China Reinsurance Market, 2013 - 2018Deerfield Beach, FL -- (SBWIRE) --
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Reinsurance is process, wherein multiple companies purchase insurance policies from other insurers to protect the insurance company from losses. Reinsurance provides assurance that insurance company can remain financially feasible, if any type of disaster happens like major hurricane. Furthermore, profits may be earned by purchasing policy and companies can avoid the losses by sharing risk.
Domestic and foreign reinsurers are concern about to diminish the risks caused by natural disasters. Reinsurance premiums will increase at an around 10 to 15% over the next few years. Also some key factors such as primary market improvement, awareness of risk and demand of solvency increases are contributing to increase rate of market across global.
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Reinsurance market mainly classified into facultative and treaty reinsurance. Some other reinsurance products available in market including life insurance, non life insurance, personal accident and health insurance. New parameter is estimated to expand a competitive market by developing new products, which are suitable to consumers. The government is devoted to enlarge its private insurance segment to enhancement public health insurance.
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