China's insurance premium income up 9.4% in Jan-Oct

Nov. 23, 2009 (China Knowledge) - China's insurance premium income grew 9.4% year on year to RMB 936.09 billion in the first ten months of this year, said the China Insurance Regulatory Commission in a statement on its website.

The country's insurance premium income was RMB 78.1 billion in October, up 27.20% from the RMB 61.4 billion booked in October of 2008, but down 20.79% from RMB 98.6 billion of September.

The country's life insurance premium income in the first ten months was RMB 692.91 billion, up 5.7% from a year earlier, while combined premium income from property insurance reached RMB 243.18 billion, up 221.5% from a year earlier, said the CIRC.

By the end of October, China's insurance sector had total assets of RMB 3.83 trillion.

China Life Insurance Co Ltd<601628><2628><LFC>, the country's largest life insurance company, has reported that its unaudited premium income reached RMB 254.7 billion in the first ten months of this year, while smaller rival Ping An Life Insurance (Group) Co<601318><2318> recorded premium income of about RMB 108.2 billion in the period, according to earlier reports from China Knowledge.