Forecasts, China 2nd largest insurance market by 2020

The increase of premiums in China is expected to continue at a significant rate, to represent an amount equivalent to 5% of the GDP by 2020, a total of 4.55 trillion CNY (744.2 billion USD), according to insurance commission (CIRC) forecasts.

Insurance premiums should reach 570 USD per capita by 2020, making this market the 2^nd in the world, right behind the United States.

As a reminder, the total premiums recorded at 31 December 2013 amounts to 1.72 trilllion CNY (281.3 billion USD).