European re/insurers have made “significant progress” in China following regulations to open up the Chinese market in 2019, according to analysts at RBC Capital Markets.
Although this progress has largely been overlooked due to the pandemic, RBC notes that several insurers, including AXA and Allianz, have taken actions to seize early opportunities in China.
China is currently the second largest insurance market globally and is seen to be the key driver of global insurance growth in the next decade.
