China’s insurance premium income up 7.8 pct in Q1

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Beijing

China’s insurance premium income went up 7.8 percent year on year in the first quarter of 2021, data from the country’s top insurance regulator showed.

Premium income reached 1.8 trillion yuan (278.2 billion U.S. dollars) during the January-March period, according to the China Banking and Insurance Regulatory Commission.

By the end of March, the industry had combined assets totalling 24.3 trillion yuan, up 11.7 percent from a year earlier.

Authorities have moved to tighten regulation on the insurance sector in recent years as they put priority on preventing systemic financial risks.—Xinhua