China Continent Insurance expands animal coverage amid booming pet economy expected to reach US$73 billion by 2023 | South China Morning Post

China Continent Insurance (CCI) has been rapidly expanding its pet insurance coverage options this year amid a booming pet economy, aided by an ageing population, more people living alone, and new technologies that reduce fraud. Multiple product upgrades and an integrated pet insurance product released this year by CCI, a unit under state-owned China Reinsurance Group, offer higher limits for a wider scope of incidents related to pets. With help from fintech giant Ant Group , an affiliate of South China Morning Post owner Alibaba Group Holding , the company's monthly pet insurance revenue surpassed 10 million yuan (US$1.5 million),…