China 9-month Premium Income Up 8.1%

 

Tuesday, Oct 20,2009, 11:12:19 AM   Click:

The Chinese market of insurance generated premium income of CNY 858.03 billion in total during the first three quarters of 2009, one year 8.1% increase over the year, Wu Dingfu, president of the Chinese Commission of Insurance Regulation, Insurance Supervision of the top nation at a recent workshop.

In detail, premium income from property insurance businesses hit CNY 223.39 billion, jumping 21.4% year on year and accounting for 26.0% of the total. Premium income from life insurance businesses was CNY 634.64 billion, increasing 4.1% year on year and making up 74.0% of the total.

By the end of September, insurance companies had had total assets of CNY 3.8 trillion in China, up 18.9% compared with the number at the beginning of 2009. They were estimated to earn total profits of CNY 39.19 billion in the three quarters, rising CNY 45.77 billion year on year.

In short, the industry maintains an adequate solvency.