China's Insurance Funds Used in First Three Quarters Hit USD2.22 Trillion
Xu Wei
/SOURCE : Yicai
China's Insurance Funds Used in First Three Quarters Hit USD2.22 Trillion

(Yicai Global) Nov. 21 -- China's insurance funds used in the first nine months of this year amounted to CNY14.6 trillion (USD2.2 trillion), up nearly 9.38 percent from the end of last year, showed data released by the China Insurance Regulatory Commission (CIRC) yesterday.

Of the total amount, the bank deposits reached CNY2.01 trillion, accounting for 13.73 percent; bonds amounted to CNY5.13 trillion, comprising 35 percent; stock and securities investment funds hit CNY1.88 trillion, making up 12.86 percent, and other investments totaled at CNY5.63 trillion, accounting for 38.41 percent.

During the same period, the insurance industry's net assets hit CNY1.86 trillion, an increase of 7.86 percent compared with the end of last year, and the total assets amounted to CNY16.58 trillion, up 9.69 percent.

From January to September, the original insurance premium income of China's insurance industry amounted to CNY3.05 trillion, an increase of 21.01 percent year-on-year, showed CIRC data. Of this total, the premium revenues of original property and casualty insurance business hit CNY723, 028 million, 13.49 percent increase year-on-year. The premium revenues of original life insurance reached CNY1.89 trillion, up 28.12 percent year-on-year.

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Keywords: Insurance , CIRC , Premium , Revenue