China's insurance premium income up 8.1% in Jan-Sep

Oct. 19, 2009 (China Knowledge) - China's insurance premium income increased 8.1% year on year to RMB 858.03 billion in the first three quarters of this year, said the China Insurance Regulatory Commission in a statement published on its website yesterday.

The country's life insurance premium income in the first nine months was RMB 634.64 billion, up 4.1% from a year earlier, while property insurance premium income reached RMB 223.39 billion, up 21.4% from a year earlier, said the CIRC.

Insurance firms in China earned RMB 39.19 billion in gross profits in the first nine months of this year, whereas they earned RMB 45.77 billion in the same period of last year.

By the end of September, insurers in China had total assets of RMB 3.8 trillion, 18.9% more than at the beginning of this year.

China Life Insurance Co Ltd<601628><2628><LFC>, the country's largest life insurance company, reported RMB 237.3 billion in unaudited premium income for the first nine months of this year, according to an earlier report from China Knowledge.