News Non-Life15 Jan 2018

China:Insurance market grew by 19% in Jan-Nov 2017

15 Jan 2018

China's insurance premium income has continued to see steady growth, with a 19.17% year-on-year rise in the first 11 months of 2017, according to data released Wednesday by the country's top insurance regulator.

Premium income reached CNY3.44 trillion (US$527.6 billion) during the January-November period, according to the CIRC.

Premium income for life insurance companies rose by 21.1% to hit CNY2.49 trillion. Property insurance company premium incomes rose by 14.3% to CNY948.3 billion.

By the end of November 2017, the industry had combined assets totalling CNY16.64 trillion, representing an increase of 10% from the beginning of 2017.

The data showed that the 11-month growth of the sector was slower than that for the first 10 months which was 19.91%.


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