Direct premiums see 17.8% growth in first 11 months
Direct premiums written, the total insurance premiums received before taking into account reinsurance ceded, rose 17.8 percent in China from a year ago to 1.87 trillion yuan ($300.8 billion) during the first 11 months of this year, according to data provided by the China Insurance Regulatory Commission on Wednesday. The growth rate is slightly lower than an 18.25 percent rise for the first 10 months. Of the total 1.87 trillion yuan, 677.42 billion yuan were collected by property insurers, up 16.05 percent on a yearly basis, while the remaining 1.19 trillion yuan were collected by life insurers, an 18.82 percent increase from a year earlier. Wednesday’s data also showed that Chinese insurance firms have paid 642.36 billion yuan in claims from January toNovember, up 15.83 percent year-on-year. inNovember boosted air cargo traffic, the newsletter said. was charged on Tuesday by the Seoul Central District Prosecutors’ Office for flouting a local transportation lawprohibiting rental cars from operating as cabs. head of Asia banks research inHongKong at UBS. Daiwa CapitalMarkets, which has a $1 trillion estimate for carry-trade inflows since 2008, bets on the difference between yields in China and overseas. It sees a 5.7 percent drop in the yuan next year.