Mainland insurance premiums rise 11%

Life insurers, including China Life Insurance, Ping An Insurance and others, raised their premium income on average by 11% year on year in the first seven months of 2004, according to the China Insurance Regulatory Commission. All in, premiums totaled RMB 266.7 billion for the period. Income from property policies soared by 25.6%, to RMB 67.2 billion. Life premium income rose by 7%, to RMB 199.4 billion. The regulator said insurers had more than RMB 1.09 trillion in assets by the end of July, 38% more than a year earlier.