China's premium income surges to RMB 915.05 bln in Jan-Nov

Published: 29 Dec 2008 17:36:54 PST

Dec. 29, 2008 (China Knowledge) - China's premium income surged by 42% year on year to RMB 915.05 billion at the end of November, according to statistics released by the China Insurance Regulatory Commission (CIRC).

The growth rate is 17.6% higher than that of the corresponding period of last year, said the industry regulator.

Premiums from property and life insurance rose 17.5% and 51.8% from a year earlier to RMB 215.9 billion and RMB 699.14 billion, respectively. Meanwhile, the insurance compensation and payment reached RMB 267.5 billion, representing an increment of 32.7% from last year.

At the end of November, the insurance industry reaped an investment return of RMB 93 billion despite of the bearish stock market, of which 86% comes from deposits and bonds and 11.7% from stocks and funds.

Wu Dingfu, CIRC chairman, said the premium income for the entire year will reach approximately RMB 1 trillion.

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