China is boosting global insurance

Global insurance owes a great deal to China which, alone, accounts for half the additional premiums underwritten in 2016, excluding health insurance.
insurance China

This finding emanates from a survey conducted by Allianz Research. Out of the 158 billion USD in additional premiums recorded at the global level, 73 billion USD are underwritten in China.

In 2016, the total global premiums amounted to 4754 billion USD, a 4.4% increase. Outside China, this growth falls to 2.7%. China is indeed a country that is particularly effective in life insurance, the class of business of which it reported a 30% growth in premiums in 2016 while at the global level, life premiums could not grow any more than 4.7%.

The life insurance penetration rate in China is of 2.4%. The non life insurance premiums have been increased by 9% in China compared to 4% at the global level.

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