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China's premium income tops $87.6b in first half

(Xinhua)
Updated: 2009-07-20 19:18

BEIJING: China's insurance premium income hit 598.61 billion yuan (US$87.64 billion) in the first half, up 6.6 percent over the same period last year, said Wu Dingfu, chairman of the China Insurance Regulatory Commission, on Monday.

Related readings:  China reports 6.4% rise in insurance premiums in H1  Chinese shares hit one-year high driven by insurance stocks  China's insurance premium income up 10% in Q1  Credit insurance premiums soaring  China's top 3 insurers post mixed Q1 premium income

Total assets of the country's insurance companies stood at 3.7 trillion yuan by the end of June, an increase of 10.9 percent from the beginning of the year, Wu said at a national insurance regulation working conference in Beijing.

The premium income figure is more than 1 billion yuan higher than the 597.55 billion yuan premium figure announced by the commission last week.

"The previous figure was an initial assessment, and the figure released today is accurate," said Cai Jipu, head of the commission's information office.