No denying that from market size. Dilemma for Insurers?
Be global, be a leader and therefore must succeed in China? Or focus on other markets and segments?
There again the same can be said for insurtechs as the large market size is a catalyst for Chinese Insurtechs. With ZhongAn, Tencent and WeChat fired mini-apps spearheading innovation it is a cauldron of competition.
What do you think and plan?
Insurance premiums will hit US$2.36 trillion in 2032, up from about US$575 billion in 2018, the Zurich-based re-insurance company said Thursday. The US market is worth about US$1.47 trillion. “Asia is the place to be [for insurers],” said Jerome Haegeli, Swiss Re Group’s chief economist. “The region and its engine of growth are driving different sectors of the industry.”
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