Chinese premiums enjoy spike
China’s insurance premium revenue has risen 51.6% in the first quarter of the year to RMB297.9 billon ($45 billion).
The China Insurance Regulatory Commission says total property premiums increased by 24.6% compared with a year earlier and life insurance premiums soared 62.1%.
The insurance regulator says insurers’ total assets reached RMB2.94 trillion ($444 billion), up 1.5% from the end of last year.
In the first two months of this year, parts of China experienced the worst snowstorms in decades, suggesting the rise in premiums could be a result of people taking out insurance policies after the storms.
The China Insurance Regulatory Commission says total property premiums increased by 24.6% compared with a year earlier and life insurance premiums soared 62.1%.
The insurance regulator says insurers’ total assets reached RMB2.94 trillion ($444 billion), up 1.5% from the end of last year.
In the first two months of this year, parts of China experienced the worst snowstorms in decades, suggesting the rise in premiums could be a result of people taking out insurance policies after the storms.