Reg­u­la­tor ap­proves 3 mu­tual as­so­ci­a­tions

China Daily (Canada) - - BUSINESS -

China’s in­surance reg­u­la­tor has ap­proved the es­tab­lish­ment of three mu­tual in­surance as­so­ci­a­tions, the first time such as­so­ci­a­tions have been set up in China, the reg­u­la­tor said at a news con­fer­ence on Wed­nes­day. China has be­come the world’s third-largest in­surance mar­ket, with in­surance pre­mi­ums reach­ing 2.4 tril­lion yuan ($364.29 bil­lion) and to­tal as­sets reach­ing 12 tril­lion yuan in 2015, ac­cord­ing to data from the in­surance reg­u­la­tor.

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