China High-quality Path Presents Key Opportunities for Reinsurance Industry

by swisschambei in Bank / Finance / Insurance

The insurance industry is expected to be on the track of steady development in China as the economy rapidly recovers from the COVID-19 pandemic, executives of global reinsurer Swiss Re said. China’s economic recovery this year is likely to be consumption-led and see stronger growth in contrast to the global economic slowdown, said Christian Mumenthaler, CEO of Swiss Re. “We observed that the pandemic had a lasting impact on the risks and demand for insurance,” Mumenthaler said. According to the Swiss Re Institute, global demand for risk protection has increased after pandemic, people are now more used to online interaction and rate hardening in non-life commercial insurance lines continues.

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