Chinese non-life insurance market forecasts for 2025

insurance life ChinaAccording to GlobalData, the direct premiums of the Chinese non-life market should reach 2 130 billion CNY (333.125 billion USD) in 2025 against 1 360 billion CNY (196.8 billion USD) in 2020. The average annual growth rate is estimated at 9.5% over the period 2020-2025.

The non-life insurance growth depends mainly on the evolution of the motor class of business which will account for a market share of 60.7% in 2020.

However, these estimates may vary depending on regulatory changes, economic challenges and developments in the Covid-19 pandemic.

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