China's urbanization presents challenges and opportunities for insurers

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By 2025, China is likely to be home to 221 cities with a population of more than one million people, and this urbanization poses insurance opportunities and challenges, Asia Insurance Review reports.

Among the key challenges is the country's susceptibility to natural calamities, including earthquakes. Robert Wiest, head of strategy and operations for Swiss Reinsurance Co. Ltd.'s Asian operations, told Lloyd's Market News that China is expected to become a peak catastrophe zone for the reinsurance sector.

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