Forecasts, China 2nd largest insurance market by 2020
The increase of premiums in China is expected to continue at a significant rate, to represent an amount equivalent to 5% of the GDP by 2020, a total of 4.55 trillion CNY (744.2 billion USD), according to insurance commission (CIRC) forecasts.
Insurance premiums should reach 570 USD per capita by 2020, making this market the 2nd in the world, right behind the United States.
As a reminder, the total premiums recorded at 31 December 2013 amounts to 1.72 trilllion CNY (281.3 billion USD).
