A Snapshot of China's Insurance Industry

Following are unaudited figures from the reports of insurance companies to the China Insurance Regulatory Commission (CIRC) for the first half of 2008. Figures compiled by CIRC.

Premium income: First-half income 561.79 billion yuan (80.3 billion U.S. dollars) in 2008, up 51 percent year-on-year.

Property insurance income: First-half income 129.93 billion yuan in 2008, up 19 percent.

Life insurance income: First-half income 431.86 billion yuan in 2008, up 64 percent.

The industry is dominated by China Life Insurance (Group) Company, whose first-half premium income was 182.06 billion yuan, or 32 percent of the national total.

Total industry assets: More than 3.02 trillion yuan, up 19 percent.

Indirect sales: Agency sales generated 126 billion yuan in premiums, or 42.3 percent of the total, in the first quarter of 2008, up 101.17 percent year-on-year, with banks contributing 72.96 percent. 

Source: CRIEnglish