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China's insurance premium income up 4.7% in Q1

May. 4, 2012 (China Knowledge) - China's insurance industry reaped RMB 483.5 billion in insurance premiums in the first three months of this year, 4.7% more than that in the same period of last year, according to the latest statistics released by the China Insurance Regulatory Commission.
The country's premium income from life insurance business was RMB 320.3 billion during the 3-month period, down 0.2% year on year.

The country's property insurance premium income for the period amounted to RMB 130.05 billion, 14.8%more than that in the corresponding period of last year, said the commission.

At the end of March, the industry's total assets had reached RMB 6.37 trillion, 17.8% more than that a year earlier. The balance of insurance funds in bank deposits increased 27.3% from a year earlier to RMB 2.07 trillion, while that of insurance fund under investments grew 12.6% to RMB 3.82 trillion.

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