China, the second largest insurance market in 2016?

According to the China Insurance Regulatory Commission (CIRC), China should overtake Japan, during the current year, to become the second largest insurance market.

For over a decade, the Chinese insurance is progressing at great speed. The amount of premiums reached 1.9 billion CNY (286 billion USD) in the first half of 2016. The growth rate is 37.3% compared to the same period in 2015.

This strong increase is attributed to the expansion of the middle class. Note that China now has about 330 million people detaining insurance policies.

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