Chinese Insurers' Premium Income Grew 21.3% to USD380 Billion In First Seven Months, CIRC Says
Xu Wei
DATE:  Sep 01 2017
/ SOURCE:  Yicai
Chinese Insurers' Premium Income Grew 21.3% to USD380 Billion In First Seven Months, CIRC Says Chinese Insurers' Premium Income Grew 21.3% to USD380 Billion In First Seven Months, CIRC Says

(Yicai Global) Sept. 1 -- China's insurance companies reported premium income of CNY2.53 trillion (USD383 billion), up 21.3 percent annually, in the period January through July this year, the China Insurance Regulatory Commission said on its official website.

Property and casualty insurance companies earned CNY609.6 billion, up 14.1 percent on the year, while life insurers brought in CNY1.92 trillion, up 23.78 percent.

Chinese insurers paid out CNY658.4 billion in compensation and payments in the first seven months, an increase of 8.71 percent annually, CIRC data show.

China's overall insurance fund balance was CNY14.43 trillion at the end of July, up 7.73 percent from earlier this year, with stocks and securities investment funds making up CNY1.84 trillion or 12.76 percent of the total.

Total assets at Chinese insurers were at CNY16.32 trillion as of the end of July, up 7.98 percent from earlier this year. Property and life insurers boasted total assets of CNY2.48 trillion and CNY12.77 trillion, respectively, up 4.48 percent and 2.66 percent compared to earlier this year.

Net assets at Chinese insurance firms totaled CNY1.82 trillion as of the end of July, an increase of 5.68 percent from earlier this year.

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Keywords:   Insurance,CIRC