China's insurance sector will see development amid reforms, says credit rating firm

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Dagong Europe Credit Rating S.R.L., a unit of China-based Dagong Global Credit Rating Co. Ltd., said the Chinese insurance sector will see considerable development amid new regulatory changes, reports Xinhua.

Linas Grigaliunas, Dagong Europe’s director of financial institutions analytical team, said the Chinese insurance sector "is the only developing market among the global leaders that still promises huge growth opportunities."

The agency said China's insurance market is expected to expand by about 15% in 2014-2015.

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