Friday, March 23, 2018

China’s premium income falls in January, says CIRC

China’s enhanced regulation of the insurance sector took a toll on the insurance industry’s premium income in January.

According to the China Insurance Regulatory Commission (CIRC), premium income dropped 19.9% to Rmb685 billion (US$109 billion) in the first month of this year, compared to an increase of 18.2% in 2017.

The drop in insurance premium income came as the insurance regulator, along with other financial regulators, tightened its grip on the sector as part of the Chinese government’s efforts to pre-empt and defuse major financial risks.

CIRC’s report further showed that total assets of the insurance industry stood at Rmb16.9 trillion at the end of January, up 0.93% from the beginning of the year.

Outstanding investment by insurers stood at Rmb15 trillion as of the end of January, up 0.7% from the start of 2018.

Of the total investments, some 34.5% went to the bond market while another 13.4% was invested in stocks and securities funds.


Related Articles

InsuranceAsia News video

Patrick Rozario, Moore Stephens

Follow InsuranceAsia News

Partner Content

White Papers

Print Edition


Defending Asia's evolving risks