BUSINESS Chinese insurers' assets up 7.2 pct in 2018

BUSINESS

Chinese insurers' assets up 7.2 pct in 2018

Xinhua

16:47, January 13, 2019

BEIJING, Jan. 13 (Xinhua) -- Total assets of China's insurance sector saw a steady increase last year, with a rise in premium income, the country's top insurance regulator said.

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(File photo: VCG)

The sector saw assets rise by 7.2 percent year on year to 18 trillion yuan (2.65 trillion U.S. dollars) in 2018, while original premium income totaled 3.8 trillion yuan, up 3.9 percent, Liu Zhiqing, an official with the China Banking and Insurance Regulatory Commission, said at a recent meeting.

The rise in premium income came amid tightened regulation last year aimed at defusing financial risks.

The sector has shown a stronger capacity to fend off risks as its overall leverage has gradually dropped and business structure improved, the regulator said in December.  

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