According to the Statistics on China Insurance Business for 2009 recently published by the China Insurance Regulatory Commission (CIRC), total insurance premiums in China received in 2009 amounted to RMB 1.11 trillion, up 13.8% from 2008.
In particular, statistics show that property insurance premiums increased by 23.1% to RMB 287.58 billion and life insurance premiums increased by 12% to RMB 745.74 billion, compared with 2008. However, health insurance premiums saw a slight decrease from 58.55 billion to RMB 57.40 billion.
Statistics also show that total insurance payout in 2009 amounted to RMB 312.55 billion, an increase of 5.2% over 2008.
In addition, according to the CIRC’s records, the total value of assets held by insurance companies in China as at the end of 2009 amounted to approximately RMB 4.06 trillion, an increase of 21.6% over 2008.