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China’s Insurance Premiums Rise 6.5% In January-August

CIRC stated that the insurance sector's total assets has increased 21% to RMB3.68 trillion in August

According to the statistics released by the China Insurance Regulatory Commission, the insurance industry of China has realised RMB759.5 billion in insurance premium income during the first eight months of this year. This is 6.5% more than the figure garnered during the same period last year, reported China Knowledge.

The source claims that China Life Insurance, a life insurance company, has reported RMB210.7 billion in unaudited insurance premium income for the first eight months, while Ping An Life Insurance recorded an unaudited premium income of RMB118.88 billion.

CIRC stated that the insurance sector’s total assets has increased 21% from a year earlier, to RMB3.68 trillion in August. However, the figure reflects a 4% decline as compared to RMB3.8 trillion in July as the Shanghai Composite Index fell more than 22% last month.

In August, the insurance sector’s total investments declined 4.35% from RMB2.44 trillion to RMB2.34 trillion, quoted China Knowledge Online.