News Life and Health12 Mar 2018

China:January 2018 total premiums fell by 20% on plunge in life sales

| 12 Mar 2018

China's insurance industry premium income fell by 19.9% to CNY685 billion (US$109 billion) in January, according to data from the country's insurance regulator, according to data from the CIRC.

This contrasts with an increase of 18.2% in January 2017 when premiums reached CNY855 billion.

More specifically, the data show:

Business Jan 2018 Premiums (CNY bln) Jan 2017 Premiums (CNY bln) % Change
Non-life 114.5  97.4  +17.6
Life 570.6 758.0  -24.7
Total 685.1 855.4  -19.9

 

The decline in life premiums in January 2018 is attributed to the CIRC's crackdown last year on risky short-term universal life insurance products.

Total assets of the insurance industry stood at CNY16.9 trillion at the end of January, representing an increase of 0.93% from the beginning of the year.

January 2017's life premiums contributed 32% of the total life premiums of CNY2,675 billion for the whole of last year. 


 

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Other News



Follow Asia Insurance Review