Jun. 26, 2012 (China Knowledge) - China's insurance industry reaped RMB 707.83 billion in insurance premiums in the first five months of this year, 4.6% 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 personal insurance business was RMB 488.8 billion during the 5-month period, up 0.66%% YoY. The figure included RMB 436.2 billion in life insurance premium income, which reflected a decline of 1.4% YoY.
The country's property insurance premium income for the period amounted to RMB 219 billion, 14.6% more than that in the corresponding period of last year, said the commission.
At the end of May, the industry's total assets had reached RMB 6.44 trillion, 20.0% more than a year earlier. The balance of insurance funds in bank deposits had increased 28.3% from a year earlier to RMB 1.99 trillion, while that of insurance fund under investments had grown 15.6% to RMB 3.95 trillion.