Chinese Insurers Report Increase in Premium Income

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Last updated at: (Beijing Time) Friday, July 12, 2002

Chinese Insurers Report Increase in Premium Income

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Chinese insurance companies reported 160.82 billion yuan (19.61 billion US dollars) in premiumincome for the first half year, up 58.01 percent on a yearly basis, the China Insurance Regulatory Commission said Friday.

Premiums from life insurance totaled 118.68 billion yuan (14.47 billion dollars), rising 84.37 percent year-on-year. Property insurance premiums rose 12.65 percent to 42.14 billion yuan (5.14 billion dollars).

In the first six months, indemnities paid out by insurance companies increased 9.89 billion yuan (1.21 billion dollars) from a year earlier, with 5.66 billion yuan (690.24 million dollars) onlife insurance and 4.23 billion yuan (515.85 million dollars) on properties.

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