News Life and Health04 Apr 2018

China:Total premiums continue to decline in 2nd month of the year

| 04 Apr 2018

Total premium income in China's insurance industry in January-February declined 18.48% from the corresponding period a year earlier to CNY970.34 billion (US$154.42 billion), according to data released yesterday by the CIRC.

In comparison, China's insurance industry premium income fell by 19.9% to CNY685 billion in the month of January 2018, compared to the same month a year ago.

For insurance companies, premiums generated by P&C insurers stood at CNY194.63 billion for the first two months of this year, an increase of 17.65% over the corresponding period last year. However, life insurers posted a 24.31% plunge in premiums to CNY775.71 billion.

For classes of business, non-life premiums increased by 15.43% to CNY177.22 billion; life premiums fell by 24.71% to CNY690.17 billion, health insurance declined by 18.19% to CNY87.5 billion while accident insurance increased by 18.81% to CNY15.46 billion.

Total assets in the insurance sector amounted to CNY16.9 trillion at 28 February, up 0.81% from the start of the year.


 


 

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