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China’s First Half Insurance Premiums Soar

Premiums of China Pacific Insurance's subsidiary reached Yuan35.2 billion in the first half of the year

China’s insurance premiums in the first half of the year grew 6.4% on the year, to reach Yuan597.6 billion ($87.47 billion) – reported in Reuters.

China Pacific Insurance Group, a life insurer, stated that premiums of its life insurance subsidiary reached Yuan 35.2 billion in the first half of the year, while premiums from its asset insurance subsidiary was Yuan18.6 billion.

Chen Wenhui, assistant chairman at the China Insurance Regulatory Commission, said: “Life insurance premiums in the first half of the year rose 3.4% from a year earlier to 440.0 billion yuan, while asset insurance premiums gained 15.8 % to 157.6 billion yuan.”