News eDaily20 Aug 2018

China:Insurance sector expands by 3.3% in 1H2018

20 Aug 2018

China's insurance sector saw premium income fall by 3.33% year on year to CNY2.2trn ($319.3bn) in the first half of the year, according to official data.

The decline slightly narrowed from the 5.9% fall seen in the first five months, reports the Xinhua news agency.

Property insurance firms posted a 14.2% increase, but life insurance companies, which account for over 70% of the total premium income, registered an 8.5% dip, data from the CBIRC showed.

At the end of June, the industry had combined assets totalling CNY17.6trn, up 5.35% from the beginning of 2018.

 

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