China to overtake US as world's biggest insurance market
5 years, 6 months ago

China to overtake US as world's biggest insurance market

China Daily  

BEIJING -- China is expected to surpass the United States to become the world's largest insurance market in the mid-2030s, according to a report from Swiss Re Institute. China consolidated its position as the second largest insurance market globally in 2018, with total premiums reaching $575 billion. China's share of the global premiums went from zero in 1980 to 11 percent in 2018 and is forecast to reach 20 percent over the next decade and then surpass the US as the biggest market in the mid-2030s. Global insurance premiums passed the 5 trillion dollar mark for the first time in 2018, equivalent to more than 6 percent of the world's gross domestic product, the report said.

China Market Premiums  report  largest  global  surpass  market  swiss  biggest  worlds  overtake  premiums  insurance  china  2018

History of this topic

Swiss Re bullish about insurance market's prospects in nation
8 months, 2 weeks ago

Swiss Re bullish about insurance market's prospects in nation

China Daily  

A view of the booth of Swiss Re during an expo in Shanghai. China's insurance sector is expected to double in size in the coming decade amid robust economic growth, making the country a more significant market for Swiss Re, the top executive of the global reinsurance company said. China's insurance market is growing faster than its economic growth rate, …

Prudential sees opportunities in growing middle-income group
9 months, 1 week ago

Prudential sees opportunities in growing middle-income group

China Daily  

China's efforts to focus more on domestic consumption for sustainable and balanced economic growth, along with a fast-growing middle-income group and the shifting dynamics of its demographics, will bring massive opportunities for global insurance companies, the top executive of global insurer Prudential said. China's economy is undergoing a transitional phase, with a stronger emphasis on high-quality and consumption-led growth driven …

India’s insurance sector to be fastest among G20 between 2024-28
11 months, 3 weeks ago

India’s insurance sector to be fastest among G20 between 2024-28

Deccan Chronicle  

Mumbai: India’s insurance sector is likely to be fastest growing among G20 countries from 2024-2028 with an inflation adjusted growth rate of 7.1 per cent according to reinsurance giant Swiss Re. Life business premiums growth is expected to rise to 6.7 per cent in 2024‒28 from 4.1 per cent in 2023 supported by rising demand for term life cover by …

Insurance has slowly become part of our lives
2 years, 6 months ago

Insurance has slowly become part of our lives

China Daily  

A bank employee addresses customers' queries on pension account in Yangzhou, Jiangsu province. Statistics show that China is the world's second-biggest commercial insurance market, with medical insurance for major disease alone covering more than 1 billion people. Today, there are about 350 commercial insurance companies in China, which employ about 9.71 million people. Encouraged by the sector's continuous growth, many …

Medical insurance ensures people's health, happiness
3 years, 10 months ago

Medical insurance ensures people's health, happiness

China Daily  

A community worker helps an elderly patient with online health insurance services at a hospital in Anqing, Anhui province, in July, 2020. Editor's Note: From "bare-foot doctors" to the most expansive and effective medical insurance system, China has made remarkable achievements in the healthcare sector. China runs the world's largest medical insurance system covering 1.35 billion people, accounting for 17.3 …

Medical insurance ensures people's health, happiness
3 years, 10 months ago

Medical insurance ensures people's health, happiness

China Daily  

A community worker helps an elderly patient with online health insurance services at a hospital in Anqing, Anhui province, in July, 2020. Editor's Note: From "bare-foot doctors" to the most expansive and effective medical insurance system, China has made remarkable achievements in the healthcare sector. China runs the world's largest medical insurance system covering 1.35 billion people, accounting for 17.3 …

China to overtake US as world's biggest insurance market
5 years, 6 months ago

China to overtake US as world's biggest insurance market

China Daily  

BEIJING -- China is expected to surpass the United States to become the world's largest insurance market in the mid-2030s, according to a report from Swiss Re Institute. China consolidated its position as the second largest insurance market globally in 2018, with total premiums reaching $575 billion. China's share of the global premiums went from zero in 1980 to 11 …

China to overtake US as world's biggest insurance market
5 years, 6 months ago

China to overtake US as world's biggest insurance market

China Daily  

Xinhua | Updated: 2019-07-07 15:32 BEIJING -- China is expected to surpass the United States to become the world's largest insurance market in the mid-2030s, according to a report from Swiss Re Institute. China consolidated its position as the second largest insurance market globally in 2018, with total premiums reaching $575 billion. China's share of the global premiums went from …

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