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Scott Yao, an official at Zurich General Insurance Co. (China) Ltd., said that demand for marine insurance from Chinese firms will rise with an increase in the number and value of overseas projects under the "Belt and Road" initiative, reports Shanghai Daily.
Chinese contractors are taking up more advanced projects overseas and engaging deeper in the management of these projects, said Mr. Yao.
The demand for cargo insurance and affiliated Delay in Start-Up Insurance is likely to continue double-digit growth in the coming years, added Mr. Yao.