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Short-term health insurance: a growth engine for China's P&C insurers

Rapid growth in the short-term health insurance sector is a boon for non-life insurers in China. With strong policy support and rising demand, we expect the growth momentum to continue.

Key takeaways:

  •  Short-term health insurance is the fastest-growing property and casualty (P&C) line of business in China with average annual premium growth of c. 40% for the past decade.
  • Growth momentum continued despite the COVID-19 shock with premiums up by 35% in the first 11 months of 2020.
  • Short-term health represented 8.5% of China's total non-life premiums in the first 11 months of 2020, up from 2.7% in 2015.
  • Practitioners expect short-term health to exceed 20% of total health insurance premiums in three years, up from 12% in 2019.
  • With strong policy support and rising demand, we expect the growth momentum to continue.

This edition also contains the crossword solutions from our 2020 Economic Insights annual compendium.

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finance macroeconomicgrowth buildingsocietalresilience insurance economicinsights china propertycasualty healthinsurance corona covid19 healthecosystem

Economic Insights Short-term health insurance: a growth engine for China's P&C insurers

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