China: Growth of overall insurance business slows significantly
Source: Asia Insurance Review | Nov 2020
The insurance industry in China generated premiums totalling CNY3.32tn ($48.9bn) in the first eight months of the year. This represented a year-on-year increase of 7.15%, but the industry’s growth was 5.88 percentage points lower compared to that from the same period last year.
From January to August, life insurers posted gross insurance premium of CNY2.39tn, a year-on-year increase of 6.68%. During the same period, property insurers generated gross premiums of CNY939.4bn, a year-on-year increase of 8.36%. A