China's insurance market to double in 10 years, Swiss Re CEO says

The size of China's insurance industry is expected to double in the next 10 years amid strong economic growth, making the country an even more important market for the group, said Christian Mumenthaler, group CEO of Swiss Re.

China's economy continued its steady recovery in April, official data released on Friday showed.

The country is expected to maintain an annual economic growth rate of about 5 percent, continuing to rank among the world's fastest-growing economies, Mumenthaler said in an exclusive interview with China Daily.

China's insurance market is growing faster than its economy, Mumenthaler added.

"The size of premiums could double in 10 years, so we want to be part of that. I'm very excited about the market opportunities in China," he said.