China’s marine insurance industry, which has experienced a strong upswing in the last decade, has slowed as the country’s economic problems, as well as subdued trade activities and increased competition, has challenged premium growth. However, according to a new
The Best’s Special Report, titled, “China Marine Insurance Withstands Challenging Operating Environment,” notes that although cargo and hull accounted for just 1.3% and 0.7%, respectively, of China’s total property/casualty gross premium in 2014, it was the largest cargo insurance market and the second-largest hull insurance market in the world.
The economic development initiative, nicknamed
The government also is supporting the development of
These government policies are expected to improve the quality of the
Cargo gross premium in 2014 was
To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=254318.
Copyright © 2016 by A.M. Best Rating Services, Inc. ALL RIGHTS RESERVED.
Senior Financial Analyst
Manager, Public Relations
Director, Public Relations