China Had CNY3.5trn Insurance Capital for Use

The Chinese insurance industry totally had CNY 3.5 trillion insurance capital for use in the first ten months of 2009, and it was up 21.05% compared with the number a year ago and 14.34% compared with the number for the 2008 full year, according to the report.

In detail, the industry's overall investments hit CNY 2.51 trillion, up 15.95% year on year and 11.64% compared with the number at the end of the prior year. Its bank savings saw CNY 985.3 billion, up 36.33% year on year and 21.83% compared with the number at the end of the prior year.

Chinese- and foreign-funded property insurance companies reaped premium incomes of CNY 253.849 billion, up 20.86% year on year and 3.77% compared with the number at the end of the prior year. They are expected to achieve a new record in premium income for the 2009 full year.

Chinese- and foreign-funded life insurance companies harvested premium incomes of CNY 682.227 billion, up 5.71% year on year.

In addition, foreign-funded property insurance companies took a premium income of CNY 2.638 billion, with a 7.06% rise year on year; and foreign-funded life insurance companies CNY 33.674 billion, with a 10.52% rise year on year.