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China H1 insurance premiums up 20.78 pct on yr to 1,148.87 bln, CIRC

2014-08-06 GMT+8:00

BEIJING, Aug. 4 (Xinhua) – China's insurance premiums amounted to 1,148.872 billion yuan in the first half of this year, up 20.78 percent year on year, according to statistics released Monday by the China Insurance Regulatory Commission (CIRC), the country's top insurance regulator.

Of the total premiums, 362.286 billion yuan were property insurance premiums, up 15.87 percent year on year; 668.726 billion yuan went to life insurance premiums, up 20.35 percent year on year; 89.292 billion yuan went to health insurance, up 52.25 percent; and the remaining 28.568 billion yuan went to accident insurance, up 17.72 percent.

Insurance indemnity and payment expenditure grew 19.21 percent year on year in the first half to 353.162 billion yuan.

Outstanding utilized insurance capital stood at 8,590.664 billion yuan by the end of June, up 11.75 percent from the beginning of this year.

By the end of June, total assets of China's insurance industry reached 9,373.715 billion yuan, up 13.09 percent from the start of this year. Net assets of the industry came to 982.275 billion yuan, up 15.91 percent from year-start.  (Edited by Hou Yujie,