Insurance Post

Premiums to account for 5% of China’s GDP by 2020

Suzhou at night

The growth of the Chinese insurance industry is set to continue apace, with the China Insurance Regulatory Commission forecasting that premiums will account for 5% of gross domestic product by 2020.

The CIRC projected that Chinese customers will pay an average of $570 (£333) per capita in insurance premiums by 2020, making China the world's second-largest insurance market behind the United States

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