China Jan.-Oct. Premium Income Up 32.28%

Insurance companies in China gained about CNY 1.24 trillion in premium revenue in the first ten months this year, rising by 32.28 percent over the period of last year, according to data by the China Insurance Regulatory Commission.

In detail, the premium income from property insurance and life insurance stood at around CNY 322.63 billion and CNY 915.68 billion respectively.

The insurance companies across the country made CNY 105.9 billion premium revenue in October alone, advancing by 35.6 percent from the month of last year, or dropping 13.55 percent from September.

The Chinese insurance industry's assets and deposits came to more than CNY 4.89 trillion and CNY 1.31 trillion as of October end separately.

In addition, insurers nationwide raked in CNY 1.01 trillion original premium revenue in the first eight months, in terms of the data by the Chinese insurance regulator.

China Pacific Insurance (Group) (SHSE: 601601), China Life Insurance (SHSE: 601628) and Ping An Insurance (Group) Company of China (SHSE: 601318), three top insurance companies of the country, saw premiums expand in accordance with old accounting standards in the first eight months this year.