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Belt and Road initiative could be an insurance bonanza

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Insurance industry experts said that China's Belt and Road initiative offers global insurers opportunities to provide political risk, engineering and property cover among other segments, Middle East Insurance Review reported. Wang Zhongyao, assistant general manager at China Property and Casualty Reinsurance Co. Ltd., said that the project is expected to generate demand for about $16 trillion in risk protection for engineering and property insurance between this year and 2022.

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