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Agricultural premium income up in first 3Q
(Xinhua)
Updated: 2005-11-14 09:27
In the first three quarters of this year, China reported 607 million yuan
(US$74.85 million) of premium income on agricultural insurance, up 66.07 percent
over the same period last year, according to latest statistics from the China
Supervision Commission on Insurance.
The agricultural premium accounted for 0.63 percent of the total property
insurance, up 0.21 percentage points year-on-year. During the period, the
compensation for agricultural items reached 197 million yuan (US$24.29 million),
up 64 percent over the same period last year.
Zhou Yanli, vice-chairman of the commission, said at a forum held in Beijing
Saturday that after several years of readjustment, China's agricultural
insurance has bidden farewell to the situation of shrinking business.
China now has set up three agricultural insurance companies in Shanghai,
Jilin and Heilongjiang provinces. Besides, the government is also launching
trials in nine provinces and regions including Jiangsu, Sichuan, Liaoning
provinces and Xinjiang Uygur Autonomous Region to encourage them to set up
various kinds of agricultural insurance mechanism. China also introduced in
overseas agricultural insurance companies to join in the trial, said Zhou.
Zhou said that agricultural insurance is still a new thing in China. The
commission will continue to pace up support in this regard to help promote
further development of the sector.
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