Forecast: Premium of Special Risks Insurance of Property Insurance Companies in China

The premium of special risks insurance in Chinese property insurance companies has steadily increased from 2013 to 2023, from 38.98 to 79.07 hundred million Yuans Renminbi. The value in 2023 stood at 79.07 hundred million Yuans Renminbi. Year-on-year variations over the last two years show a growth of 4.39% in 2022 and 4.18% in 2023. The consistent upward trend is notable despite some slight downturns, such as in 2016.

The last five years have seen a CAGR of 5.86%, indicating robust growth. This growth is expected to continue with a forecasted CAGR of 2.87% over the next five years, leading to a total forecasted growth rate of 15.17% by 2028. This suggests a steady yet moderate increase in premiums.

Future trends to watch for include:

• The impact of regulatory changes on the insurance market.
• Technological advancements in risk assessment and management.
• Potential economic fluctuations that could affect insurance premiums and demand.
• Emerging risks related to climate change and cyber threats influencing insurance underwriting.