China's properties and casualty insurance (P&C) premium revenue saw high growth in the first 11 months in 2006, Xinhua learned from China Insurance Regulatory Commission.

Premium from four major parts - vehicle insurance, enterprise property insurance, cargo transport insurance and liability insurance amounted to 126.4 billion yuan (15.8 billion U.S.dollars) in the first 11 months, up 24 percent year on year, and accounting for 91.6 percent of property premium.

Statistics show that China's motor vehicle insurance revenue hit 100.87 billion yuan, up 27.6 percent over the same period last year. Compulsory traffic accident liability insurance, which was charged from July, 2006, saw a premium revenue of 17.9 billion yuan.

Enterprise property insurance premium was 15.1 billion yuan, up 6.8 percent over the same period last year, accounting for 10.4 percent of the insurance companies' businesses.

Cargo transportation insurance premium stood at 5.13 billion yuan, an increase of 7.3 percent year on year, accounting for 3.6 percent of the insurance companies' businesses.

Liability insurance as one of the parts that China plans to give priority to foster, achieved a premium revenue of 5.34 billion yuan, earmarked an increase of 32.7 percent year on year.

With a premium of 853 million yuan, agricultural insurance saw an growth of 31.4 percent over the same period last year.

Source: Xinhua