China’s premium income falls by 2.4% in seven months
Premium revenue earned by Chinese language insurers fell by 2.Four% to Rmb2.47 trillion (US$360 billion) through the first seven months of the yr, in keeping with information launched by the China Banking and Insurance coverage Regulatory Fee (CBIRC).
Nonetheless, the decline is an enchancment in comparison with the three.three% drop recorded through the first half of the yr, based mostly on the official information.
The CBIRC didn’t present causes for the decline, though insurers in China have felt the results of tighter rules on the sector since final yr.
The CBIRC information revealed that indemnities paid by insurers within the January-July interval reached Rmb692.three billion, a 5.1% improve year-on-year.
Chinese language insurers’ excellent investments additionally reached Rmb15.7 trillion through the interval whereas the business’s whole belongings stood at Rmb17.7 trillion, up 5.Four% from the start of this yr.
Supply hyperlink – https://insuranceasianews.com/chinas-premium-income-falls-by-2-Four-in-seven-months/