Insurance market premiums keep growing

China insurance outlook stay positive according to the latest report of the rating agency Fitch on the local market.

According to Joyce Huang, director of Insurance at Fitch, life insurance companies should keep a satisfactory progress of their premiums, thanks to the shifting of their product mix and the expanding of their marketing and sales forces, and that despite the tightening of regulations issued by the Insurance Commission (CIRC).

In the non-life sector, premium growth is expected to be supported by the steady increase of the vehicle fleet, the expansion of distribution channels of insurance policies and the positive evolution of non-motor lines in the turnover.