Insurers Jan-Apr Profit Up 158%

Aggregate profit insurers in the Chinese market gained in the first four months of this year is expected to hit CNY 27.75 billion, soaring 158.13 percent, or CNY 17 billion, year on year, according to statistics by the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator.

Of the total, CNY 7.15 billion was captured by property insurers and CNY 18.16 billion was seized by life insurers. Their capital utilization outstanding reached about CNY 3.97 trillion, increasing 6.11 percent from the year start, with return on investment of CNY 58.51 billion.

The premium revenue they gained during the four months touched CNY 565.5 billion, of which CNY 138.56 billion was captured by property insurers and CNY 426.95 billion was seized by life insurers, surging 35.02 percent and 37.1 percent, each. Of it, CNY 23.04 billion was gained by foreign insurers, with market share of 4.07 percent, up 0.72 percentage points from a year ago. Those foreign insurers' assets hit about CNY 217.37 billion, accounting for 5.04 percent of the total, up 0.4 percentage points from a year earlier.