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China's insurance premium income up 18.3% in Jan-Oct to RMB 1.73 trln

Nov 26, 2014 (China Knowledge) – China's insurance industry reaped RMB 1.73 trillion in insurance premiums in the first ten months of this year, 18.3% 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 1.11 trillion in the first ten months, up 19.36% year on year.  


From Jan to Oct 2014, the nation's property insurance premium income for the period amounted to RMB 617.3 billion, 16.29% more than that in the corresponding period of last year.


The balance of insurance funds in the country had grown 14.49% from the beginning of this year to RMB 8. 8 trillion at the end of Oct 2014, of which RMB 2.46 trillion were in bank deposits, RMB 3.57 trillion in bond investments and RMB 892.52 billion in stocks and securities investments.


At the end of Oct 2014, the total assets of China’s insurance companies amounted to RMB 9.65 trillion, 16.4% more than at the beginning of this year.


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