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Insurance sector grows 20% in four years

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A report by Ireland-based Research and Markets Ltd. has said that Macau's insurance sector grew 20% from 2009 to 2013 in terms of gross written premiums, Macau Business Daily reported.

The nonlife insurance segment registered a 20% compound annual growth rate during the period, the report said. Macau's insurance penetration "stood at 1.6% in 2013, compared to the Asian average of 6%," said the report. "The industry is set to grow owing to its booming gambling industry [and] developments in tourism and infrastructural growth," added the report.

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