Di­rect pre­mi­ums see 17.8% growth in first 11 months

China Daily (Canada) - - BUSINESS -

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.

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