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China's insurance companies report robust performances in first three quarters

Xinhua | Published: November 17, 2019 14:45:56 | Updated: November 19, 2019 10:31:19


Picture used for illustrative purpose only — Collected

The total assets of insurance companies reached 20 trillion yuan (about US $2.86 trillion) at the end of September, up 1.63 trillion yuan or 8.9 per cent from the beginning of the year, official data showed.

Among them, the total assets of property insurance companies were 2.36 trillion yuan at the end of September, up 0.6 per cent from the beginning of the year, and the total assets of life insurance companies reached 16.26 trillion yuan, up 11.3 per cent from the beginning of the year, according to the China Banking and Insurance Regulatory Commission (CBIRC).

The total assets of the reinsurance company reached 431.4 billion yuan at the end of September, up 18.2 per cent from the beginning of the year, and the total assets of the asset management company reached 58.2 billion yuan, up 4.5 per cent from the beginning of the year.

In the first three quarters, the original insurance premium income was 3.45 trillion yuan, up 12.6 percent from the same period last year, while expenditure on compensation and payment reached 941.1 billion yuan, up 3.1 percent from the same period last year, according to the CBIRC.

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