Insurance premiums up 21% in first half
19 July 2007
Chinese insurance firms saw first-half premiums increase by 20.7% over the same period last year, the industry regulator announced on Wednesday, Xinhua reported (in Chinese). Premiums from the original insurance contracts between January and June hit US$49.1 billion, according to the China Insurance Regulatory Commission (CIRC). The CIRC said it has strengthened industry regulation and taken measures to guard against financial risks to safeguard the stability of the insurance market. During the first half of the year 351 institutes and 205 individuals were punished for violating industry regulations.