The Chinese reinsurance market is growing by 40% between 2014 and 2018

According to a report by Zion Research, the Chinese reinsurance market is poised to undergo a substantial progression in the course of upcoming years in the life and non life classes of business.

According to the same survey, the volume of reinsurance premiums written, set at 35 billion USD in 2013, will reach 198 billion USD by 2020.
The average annual growth rate is likely to attain 40% for the 2014-2018 period.

The emergence of new products and better coverage for natural catastrophes partly account for this big growth, in addition to the government’s pledge to promote the private sector, especially the health insurance business.

Read also:

• Booming life insurance
• Launch of the first earthquake insurance in China
• Establishment of a third local reinsurer