China will become world’s biggest insurance market by mid-2030s, speeding past US on the way, says analyst

//China will become world’s biggest insurance market by mid-2030s, speeding past US on the way, says analyst

China will become world’s biggest insurance market by mid-2030s, speeding past US on the way, says analyst

China’s insurance market will quadruple in 14 years to US$2.36 trillion, on the way speeding by the US, currently the world’s leader, according to Swiss Re Institute.Insurance premiums will hit US$2.36 trillion in 2032, up from about US$575 billion in 2018, the Zurich-based re-insurance company said Thursday. The US market is worth about US$1.47 trillion.“Asia is the place to be [for insurers],” said Jerome Haegeli, Swiss Re Group’s chief economist. “The region and its engine of growth are…

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By | 2019-03-07T10:03:12+00:00 March 7th, 2019|Business|Comments Off on China will become world’s biggest insurance market by mid-2030s, speeding past US on the way, says analyst