China: Insurance sector doubles annual profits to CNY204.7 bln
Source: Asia Insurance Review | Mar 2015
China’s insurance industry recorded profit of CNY204.7 billion (US$32.8 billion) last year, more than double the amount of the previous year, said the country’s insurance regulator in a media statement, reported Ecns.cn.
Capital gains from premium investment stood at CNY535.9 billion with a rate of investment return of 6.3%, said the China Insurance Regulatory Commission.
Total premium income by insurance companies reached CNY2.02 trillion last year, up by 17.5% year-on-year. The sector’s total assets stood at CNY10.2 trillion as of the end of last year, increasing by 22.6% from the level in the beginning of last year, according to the statement.
2014 is the second consecutive year in which China’s insurance industry more than doubled its profits. In 2013, the insurance industry reported gains of CNY99.1 billion, an increase of 112.5%.