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China's insurance premium income up 19.5% to RMB 1.7 trln in Jan-Aug

Sep 30, 2015 (China Knowledge) - China's insurance premium income climbed 19.54% from a year earlier to RMB 1.7 trillion in the first eight months of this year, with health insurance premiums leading the growth, according to the latest statistics released by the China Insurance Regulatory Commission (CIRC).

CIRC said that revenue from health insurance premium saw a robust growth of 43.78% year on year to RMB 159.99 billion during Jan-Aug period.

Meanwhile, the premium for life insurance sector hit RMB 977.84 billion during the eight-month period, posting an increment of 21.64% year on year, while that for property insurance grew 10.56% year on year to RMB 524.19 billion.

The balance of insurance funds in the country climbed 9.21% from the beginning of this year to RMB 10.19 trillion at the end of Aug 2015, of which RMB 2.5 trillion and RMB 3.59 trillion were in bank deposits and bond investments, accounting for 24.5% and 35.2% of the total, respectively, while stock and securities investments amounted to RMB 1.33 trillion, contributing to 13.1% of the total.

By the end of Aug 2015, China's insurance industry’s net assets totaled RMB 1.44 trillion, 8.63% more than that at the beginning of this year.

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