Magazine date:
Jul 2011 Even if engineering insurance is growing rapidly in the country, it accounts for less than 1% of the premiums collected in the non-life business.
According to the Chinese association of insurance, the premiums generated by engineering have reached 4.08 billion CNY (598 million USD) in 2008. It was only 600 million CNY (72.4 million USD) in 1998.
The increased activity is due to the investment program worth 4 trillion CNY (586 billion USD) decided by the authorities, in the thick of the 2008 financial crisis. There is no obligation for engineering insurance in China.