In­sur­ers’ pre­mium in­come growth slows

New Straits Times - - Business -

Pre­mium in­come growth at China’s in­sur­ers slowed in the first half of the year to 23 per cent from 37 per cent a year ago, said the coun­try’s in­surance reg­u­la­tor, as a crack­down on lever­age in the fi­nan­cial sec­tor be­gan to bite. China’s big in­sur­ers have at­tracted reg­u­la­tory at­ten­tion for ac­qui­si­tions of overseas as­sets while us­ing client money from high-yield in­vest­ment prod­ucts sold to con­sumers, lead­ing to calls for self-dis­ci­pline and a wider sweep of the fi­nan­cial sys­tem to re­duce risk and de­viance.

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