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Agricultural insurance market in China sees strong expansion
(MENAFN)
An official of the Chinese top banking and insurance regulator said on Saturday that the agricultural insurance market in China has registered a strong expansion in the recent earlier years having more coverage and a higher income.
Vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), Liang Ta, announced at a forum in Tianjin that the sum insured in the earlier year of 2019 has reached around USD519.1 billion, ranking the top in Asia and the second globally.
The official added that the agricultural insurance premiums were predicted to hit USD9.85 billion in comparison with USD750 million seen back in 2007.
360 million rural homes benefited of more than USD34.78 billion of insurance indemnity since 2008.
An official of the Chinese top banking and insurance regulator said on Saturday that the agricultural insurance market in China has registered a strong expansion in the recent earlier years having more coverage and a higher income.
Vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), Liang Ta, announced at a forum in Tianjin that the sum insured in the earlier year of 2019 has reached around USD519.1 billion, ranking the top in Asia and the second globally.
The official added that the agricultural insurance premiums were predicted to hit USD9.85 billion in comparison with USD750 million seen back in 2007.
360 million rural homes benefited of more than USD34.78 billion of insurance indemnity since 2008.
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