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Chinese Insurance Sector Kept Growth amid Recession

 

Tuesday, Nov 24,2009, 11:02:51 AM   Click:

Some emerging countries have still kept robust growths in their insurance markets amid the lingering financial crisis, Yuan Li, assistant to chairman at the China Insurance Regulatory Commission, the nation's top insurance regulator, said at the 21st Century Annual Finance Summit of Asia opened in Beijing on November 22, 2009.

For instance, China, Brazil, Russia, and Singapore achieved double-digit growths in premium income in 2008, by contrast, the insurance industry was hurt in many developed countries, according to Yuan. The global insurance industry is experiencing a slow but far-reaching reform.

Data showed that the Chinese insurance industry reaped premium income of CNY 853.03 billion in the first three quarters of 2009. Insurance companies had had total assets of CNY 3.8 trillion in China by the end of September. As a whole, the industry had an adequate solvency and a healthily and steadily financial status.

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