Shandong Insurers Q1-Q3 Underwrote CNY9.22trn Insurances

Insurance companies in Shandong Province, excluding Qingdao City, underwrote CNY 9.22 trillion insurances and compensated CNY 13.803 billion by the end of the third quarter this year, according to data from the China Insurance Regulatory Commission Shandong branch.

In the meanwhile, accumulated reserves for endowment and medical insurances came to CNY 199.169 billion.

Insurers in the province underwrote CNY 9.198 billion planting and breeding insurances and compensated CNY 127 million, benefiting 504,800 rural households.

The insurances for production, fire disasters, transport contractors and campuses have been on the stable growth, and the underwriting amount for such insurances got at CNY 0.66 trillion.

In addition, local insurance companies brought in CNY 67.449 billion premium income in the first three months this year, expanding by 28.90 percent over the period of last year. In detail, the premium revenue from property insurance and life insurance stood at CNY 17.97 billion and CNY 49.479 billion, gaining by 31.85 percent and 27.86 percent from the previous year separately.