Thursday, October 19, 2017

China insurers’ premium income up 20.45%

Chinese insurers’ premium income remained robust through August this year, growing by as much as 20.45% since the year started.

Data from the China Insurance Regulatory Commission (CIRC), the country’s top insurance watchdog, showed that the total premium income generated by the Chinese players during the period rose to Rmb2.77 trillion (US$418.39 billion).

The CIRC statement on its website also showed that premium income for property insurance firms surged 14.44% to Rmb690.1 billion for the January-August period.

Meanwhile, outstanding investment reached Rmb14.46 trillion, representing an increase of about 8% from the beginning of the year, the statement said.

The commission attributed the steady growth of premium income to improved regulations and risk protection. Since the start of this year, financial regulators have sought to prevent systemic risks to ensure financial security.

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