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Chinese insurance sector doubles annual profits

BritCham / CBBC
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Asia Insurance Review, 27/01/15
 
The mainland Chinese insurance industry recorded profit of CNY204.7 billion (US$33 billion) last year, more than double the amount of the previous year, the country's insurance regulator has announced.
 
Capital gains from premium investments stood at CNY535.9 billion with a rate of investment return of 6.3%, according to a media statement from the China Insurance Regulatory Commission.
 
Total premium income by insurance companies reached CNY2.02 trillion last year, up by 17.5% year-on-year. The sector's total assets stood at CNY10.2 trillion as of the end of December 2014, increasing by 22.6% from the level at the beginning of last year.
 
2014 is the second consecutive year in which China’s insurance industry more than doubled its profits. In 2013, the insurance industry reported gains of CNY99.1 billion, an increase of 112.5%.
 
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