China will be the world’s number two insurance market by 2025

According to the data published by the Chinese insurance commission, the sector’s turnover went beyond the mark of 2 billion CNY (311 billion USD) in 2014. The insurance market has grown at an average rate of 17.5%. If the increase stays the course at the same pace, China is poised to become the world’s second market as of 2025.

Numerous foreign insurers are always attracted by the sustained activity witnessed by the Chinese insurance industry. The local authorities have adopted a gradual deregulation policy for the sector, paving the way for foreign players to tap into the new opportunities.