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Member, Beacon International Group, Ltd.
Standard & Poor's Corp. has said that China's nonlife insurance sector is forecast to grow at a rate of 15% per year for the coming one or two years, Asia Insurance Review reported.
The ratings agency said this expected growth would come from a base of premiums worth around $106 billion in 2013 and $92 billion for the first nine months of 2014. "We maintain our stable outlook on the non-life sector," said S&P, adding that insurers with strong networks and underwriting skills are expected to beat their peers.