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Sichuan's insurance premiums up 59% in H1

By Li Huayu (chinadaily.com.cn)
Updated: 2008-09-01 15:47

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During the first half of 2008, Sichuan province's insurance industry raked in a premium income of 26.44 billion yuan ($3.85 billion), up 58.84 percent year-on-year, 7.75 percentage points higher than the national average growth, reported statistics from the China Insurance Regulatory Commission Sichuan bureau.

According to the statistics, the industry provided 11.91 trillion yuan in insurance guarantee to the province's enterprises, families and individuals, up 165.85 percent. The province's total insurance payouts were 6.38 billion, up 35.22 percent year-on-year.

In the first half, Sichuan established five new insurance company branches. As of the end of June, the province had 42 insurers, including 21 property and casualty (P&C) and 21 life insurers. One holding insurance company, as well as one P&C and three life insurance companies are waiting to be launched.

The province had 83 specialized insurance intermediary agencies and 178 branches, including 71 insurance agencies and 145 branches, seven insurance brokers and 31 branches, and five loss adjustors and two branches. The total number of concurrent-business insurance agencies reached 10,244, employing 100,600 insurance salespeople.

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The full text is available in the August Issue of China Insurance.Please visit publications for more subscription details.