China reinsurance market set for explosive growth to reach $198bn
China's life and non-life reinsurance market is poised to expand by more than 40% a year, according to a report by Zion Research. Zion values the market at $198bn by 2020, from $35bn in 2013, a compound annual growth rate of 40%. For insurers, premiums will rise by 10% to 15% in the next few years, the report says. Take-up of insurance in China is still relatively low and the country is at risk from a range of natural disasters.

China Reinsurance Market sales is growing at USD 198 Billion in 2018

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Zion Research has published a new report titled “Reinsurance Market in China (Life and Non-life) by Premium Category (Treaty Reinsurance and Facultative Reinsurance): Industry Perspective, Comprehensive Analysis and Forecast 2013 - 2018.” According to the report, the China reinsurance market was valued at around USD 35.0 billion in 2013 and is expected to reach at approximately USD 198 billion by 2020, growing at CAGR of slightly above 40% from 2014 to 2018.Request Sample Report:Reinsurance is process, wherein multiple companies purchase insurance policies from other insurers to protect the insurance company from losses. Reinsurance provides assurance that insurance company can remain financially feasible, if any type of disaster happens like major hurricane. Furthermore, profits may be earned by purchasing policy and companies can avoid the losses by sharing risk. China is the highest populated country in the world, owing to this its reinsurance market is estimated to propel with high growth rate. Insurance infiltration in China is severely low. However, region is susceptible to range of natural catastrophe, comprising earthquakes, flooding and others. This all factors hampered economical development and sustainability when disasters occur.Domestic and foreign reinsurers are concern about to diminish the risks caused by natural disasters. Reinsurance premiums will increase at an around 10 to 15% over the next few years. Also some key factors such as primary market improvement, awareness of risk and demand of solvency increases are contributing to increase rate of market across global. China was the third highest insurance industry in 2013 across the world. China ranked third in the world and second in Asia in 2013. In terms of gross premium, China reinsurance market valued at USD around 35 billion in 2013.Browse the full "China Reinsurance Market (Life and Non-life) by Premium Category (Treaty Reinsurance and Facultative Reinsurance): Industry Perspective, Comprehensive Analysis and Forecast 2013 - 2018" report atReinsurance market mainly classified into facultative and treaty reinsurance. Some other reinsurance products available in market including life insurance, non life insurance, personal accident and health insurance. New parameter is estimated to expand a competitive market by developing new products, which are suitable to consumers. The government is devoted to enlarge its private insurance segment to enhancement public health insurance.The China reinsurance market competitive segments include both domestic and foreign reinsurers. There are some leading reinsurance companies such as Swiss Re, Munich Re, Lloyd’s Insurance Company (China) Ltd, China Life Reinsurance Company Ltd, and Taiping Reinsurance Company Ltd.Do Inquiry before buying:About UsZion Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.Each Zion Research syndicated research report covers a different sector — such as pharmaceuticals, chemical, energy, food and beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports strive to serve the overall research requirement of clients.Contact US:Joel John3422 SW 15 Street,Suit #8138Deerfield Beach,Florida 33442United StatesToll Free: +1-855-465-4651 (USA-CANADA)Tel: +1-386-310-3803Email: sales@marketresearchstore.comWebsite: