Insurance will continue to grow at an accelerated pace in Asia. From 2020, China and the emerging Asian countries will drive the growth of the global insurance market.
According to the latest survey by Swiss Re "Global Economic and insurance Outlook 2020", the Asian market will report the highest demand for insurance with premiums increasing by almost 9% over the next two years. However, the growth rate of global life and non life insurance should not exceed 3% per year in 2019 and 2020 despite the improvement of technologies and the digitisation of data. The Asian market growth would be at a rate three times higher than that of the global average.
China's share of global premiums will rise from 9.7% in 2017 to 16% in 2028. This share was only 0.8% in 2000.
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