Thursday, October 19, 2017

China insurers’ profits up 10% in H1

China’s insurance sector continues to expand, with industry players raking in Rmb116.1 billion (US$17.26 billion) in profits in the first six months of the year.

According to the country’s top insurance regulator, the amount is 10.03% higher compared to the same period last year.

The China Insurance Regulatory Commission (CIRC), at a press conference in Beijing, said total premium income in the January-June period surged 23% to reach Rmb2.31 trillion.

Outstanding investment also grew to Rmb14.5 trillion, or an increase of 8.28% from the beginning of this year.

The investment yield was pegged at 2.62% in the first six months.

Chinese authorities have been closely monitoring the industry since the start of this year.

Recently, they have introduced a spate of measures seeking to prevent asset-liability mismatches and speculative acquisitions by insurers.

 

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