China insurers Jan-Sept net profit at $5.8b

China’s insurance companies booked aggregate profit of almost US$5.8 billion in the first three quarters of 2009, compared to a US$900 million loss in the same period last year, Reuters reported. China’s insurance industry regulator said premiums rose 8.1% in the first nine months of the year to US$126 billion. “The insurance market has stabilized and its steady growth is better than expected,” the China Insurance Regulatory Commission (CIRC) said in a statement on its website. The CIRC expects growth to continue in the fourth quarter.