In both areas of business, the global volume of premiums amounted to almost 130 billion euros last year. Growing markets collected about 80% of this rise, and China owns two-thirds of it. After a lost decade, the growth of premiums should return to a pre-crisis level; China can become the world's largest market, the study said.
The survey also mentions that general insurance set a tone for the industry last year, which not only doubled the growth of life insurance in 2017 (+ 5%), but also performed a record growth since 2012. Almost all regions made a positive contribution to the growth of premiums; nevertheless, the difference in growth rates between the growing and industrialized countries remained significant: the premiums of growing countries jumped by 11.6%, and developed markets showed growth rates of only 3.5%.
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