China's insurance intermediary sector to experience high growth in next five years

Jiang Ming, chairman of China-based insurance broker D.Tong Insurance Sales & Service Ltd., has said that the nation's insurance intermediary segment is expected to experience high growth rates for the next five years, Asia Insurance Review reported citing media reports. The segment is benefitting from changes in the insurance market, such as the introduction of high-end pension products and critical illness insurance, and the reform of commercial auto insurance pricing. China Insurance Regulatory Commission's crackdown has transformed the segment from "small, fragmented, messy, lacking" to a professionalized sector, Mr. Ming said.

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