China:Total premiums shoot up by 20% in Jan-August period

Total premium income for China’s insurance industry in the January-August period rose by 20.5% from a year earlier to CNY2.77 trillion (US$418.4 billion), data from the country’s insurance regulator showed yesterday.

Premium income for property insurance firms by rose 14.4% to CNY690.1 billion, according to a statement posted on the CIRC website. Life insurance companies saw their premium income rise by 22.6% to CNY2.08 trillion.

In terms of business classes, premiums rose by 13.4% for property insurance to CNY638.8 billion; by 27.3% to CNY1.75 trillion for life insurance, by 3.1% to CNY319.5 billion for health insurance, and by 20.1% to CNY60.6 billion for accident insurance.

Total claims paid and redemptions rose by 7.8% during the first eight months of the year to CNY743.6 billion, compared to the corresponding period last year.

Source: http://www3.asiainsurancereview.com/News/View-NewsLetter-Article/id/40509/Type/eDaily/China-Total-premiums-shoot-up-by-20-in-Jan-August-period/1/sid/34995?utm_source=News&utm_medium=Email&utm_campaign=AIR_eDaily

2017/10/15 News