China presents reinsurers with both challenges and opportunities.
While rapid economic growth and investment in infrastructure offer lucrative opportunities, a changing regulatory system, low insurance penetration and a lack of sophistication among buyers mean there are still hurdles to overcome.
There is no doubt that China is a growing force both economically and politically globally. As a result, the amount of infrastructure in the country has grown exponentially in recent years, with investment being poured into developments ranging from housing to roads and railways.
“China’s strong investment in infrastructure has created opportunities for reinsurers,” says Rade Musulin, chief operating officer of Aon Benfield Analytics, Asia Pacific. “These have led to larger risks requiring higher amounts of insurance and, in turn, increasing demand for reinsurance.”
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Insurance, Reinsurance, Emerging markets, China, Peak perils