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China's insurance premium income up 10% in Q1

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-04-21 17:09

China's insurance sector saw its premium income total 327.7 billion yuan ($47.98 billion) in the first quarter of this year, an increase of 10 percent on a yearly basis, the industry regulator said in a statement on Tuesday.

Premiums from life insurance grew 9.4 percent to 255.8 billion yuan in the first three months, while those from the property and casualty sector jumped 12 percent to 71.86 billion yuan, according to the China Insurance Regulatory Commission.

Meanwhile, insurers realized an investment profit of 43.3 billion yuan in the first quarter, with return on investment standing at 1.4 percent. As of the end of March, the total assets of the insurance sector stood at 3.5 trillion yuan, up 6 percent over the beginning of this year.