China’s general insurance market to reach $313 billion by 2025

A report by U.K.-based data analytics firm GlobalData PLC expects China’s aggregate general insurance direct written premiums to reach 2.13 trillion Chinese yuan ($313 billion) by 2025, up from CNY1.36 trillion in 2020, Reinsurance News reported. This reflects a compound annual growth rate of 9.5% between 2020 and 2025.