Top 10 trends and prospects of China’s insurance industry 2013
Deloitte China's GFSI Center of Excellence (COE) recently released the Top 10 trends and prospects of China’s insurance industry 2013 report, providing a review on the development of the insurance industry in China in 2012 and a prediction of the future trends in 2013. Barry Man, Deloitte China's lead insurance partner expressed that the growth rates of both property & casualty insurance and life insurance are further slowing down, compared to those in 2011 and the 20% compounded average growth rate of China insurance industry in the past ten years (2001-2010). The downturn trends in the capital market will bring further challenges to China insurance industry and affect its solvency. However, China's growing demands for insurance will continuously boost the development of the insurance industry in the years to come.