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December 17, 2004

Korean Insurance Market to Grow 4.1%

South Korea, which is second only to Japan and larger than China in the Asian insurance market, will likely post real growth of 4.1 percent over the next five years, a senior manager of Swiss Re said Tuesday.

``Japan is an already developed country in insurance penetration and density. China is rapidly growing with very high expectations but its uncertainty is much higher. Korea is somewhere between them," Andreas Bollmann, head of Property and Casualty division of Swiss Re told the Korea Times.

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Posted by Tom Troceen