Date
22 October 2017

China insurance premium income 4th largest globally, report says

China’s insurance industry generated 1.72 trillion yuan (US$284.26 billion) in insurance premium income in 2013, up 11.2 percent from the previous year, financial information provider Aastocks.com reported Tuesday, citing Xiang Junbo {項俊波}, chairman of the China Insurance Regulatory Commission. China’s insurance premium volume is now the world’s fourth largest, Xiang said. Property insurance contributed 621.2 billion yuan in original premium income, up 16.5 percent from 2012, while life insurers saw their premium income rise 8.4 percent to 1.1 trillion yuan, the report said. The industry’s combined profit surged 112.5 percent to 99.14 billion yuan for the year, according to Xiang.

– Contact HKEJ at [email protected]

MY/AC/CG

 

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