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Premium income for the insurance industry in the Asia-Pacific region will double by 2020, according to a study published by Munich Re’s Economic Research Department. With more than €1 trillion, nearly half of the estimated additional global primary insurance premiums will be generated in Asia-Pacific until 2020 (worldwide €2.2 trillion). The contribution from “emerging Asia” – markets such as China or India – to this figure will be nearly 70 percent (about €670bn). 

Five of the expected global Top 10 primary-insurance growth markets will be in the Asia-Pacific region, both in property/casualty (“P/C”) and in life, according to Munich Re. The company said that it expects China to be the country with the highest increase of primary insurance premiums worldwide until 2020 (additional €425bn), followed by the United States (additional €350bn) and Japan (additional €157bn). 

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