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Reinsurance Market Size, 2017-2021: Industry Will Reach 198 Billion

Reinsurance Market will Procure $198 billion by 2020

 

Deerfield Beach, FL -- (SBWIRE) -- 10/25/2017 -- 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.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."

The report provides insights into market size, forecast, and analysis for the reinsurance market over a China. Reinsurance market is estimated in terms of revenue (USD million), for the period from 2013 to 2018, whereas study provides significant information related to the market. The study also offers important market dynamics such as market drivers and restraints for the reinsurance market along with their expected impact as they have on the demand over the forecast period. Additionally, the report includes the study of opportunities, which are available in the reinsurance market across China.

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Insurance infiltration in China is severely low. However, the region is susceptible to the range of natural catastrophe including earthquake, hurricane, and others. These all factors hamper economic development and sustainability in case of natural hazards. New parameters are established to expand a competitive market by developing new products, which are suitable for consumers. The government is supporting towards the growth of private sector in the insurance industry for the enhancement public health insurance.

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Reinsurance is segmented into two methods, namely, facultative reinsurance and treaty reinsurance. Treaty reinsurance further divided into proportional and non-proportional types. Reinsurance premiums will increase at an annual growth rate of approximately 12% over the next few years. According to the Ministry of Health of China, public expenditure on healthcare rise around 20% from the previous year. The non-life segment's share is estimated to shows healthy growth from slightly over 34% to 40%.

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The China reinsurance market competitive segments include both domestic and foreign reinsurers. There are some leading global reinsurance companies such as Swiss Re, Munich Re, Lloyd's Insurance Company (China) Ltd, China Life Reinsurance Company Ltd, and Taiping Reinsurance Company Ltd. The China Re and Central Huijin Investment Corporation accounted for around 84% share of China reinsurance industry in 2013.