Insurance premiums to climb by more than 20% in China

China’s promising economic growth coupled with commendable structural changes will enhance sector performance, and expectations are that the country will uphold its pole position as one of the fastest growing insurance markets globally. Life premium growth rates are projected to expand in excess of 20% per annum, with volumes more than doubling the next 5 years to $100 bln. Meanwhile, non-life operations appear poised to expand beyond $20 bln by 2010, Financial Insights says.