CHINA – China to remain biggest growth market: Munich Re

Munich Re, the world’s biggest reinsurer, said China will remain its biggest growth market in Asia, as it considers countries such as India too unpredictable to step up investment. “Our biggest customers in China are still growing their business by more than 15 percent a year, driven by motor insurance as the boom in car sales continues,” said management board member Ludger Arnoldussen to the media. “We want to expand our market position in Asia, but is has to be done on a profitable basis,” he added.