BIZCHINA / Center
Life insurance Q1 premiums up
(Xinhua)
Updated: 2007-05-18 10:32
China Insurance Regulatory Commission (CIRC) said on Thursday that --
under new accounting rules -- the country's life insurance premiums
reached 145 billion yuan in the first quarter of 2007, up 17.8 percent
year on year.
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Reinsurance premiums, excluded under the previous accounting rules, have
been added to the total under the new rules which came into force on
January 1.
Despite the excellent performance by life insurance, the CIRC warned
insurers to look into risks from potential interest rate hikes.
The country's insurance companies reported premiums worth 196 billion
yuan during the same period, an increase of 22.7 percent year on year,
official statistics showed.
The total assets of the insurance sector climbed to 2.25 trillion yuan by
the end of March, about 271 billion yuan more than that at the beginning
of this year.
(For more biz stories, please visit Industry Updates)
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