GUANGDONG SEES SURGE IN FIRST-HALF PREMIUM INCOME

Premium income generated by Chinese insurers in the first half of this year totalled Yuan561.8bn, figures from the regulator show. Bancassurance prompted a 64% year-on-year increase in life insurance premiums. On the other hand property insurance premiums were up only 20% to Yuan129.9bn in the first half, according to the CIRC statistics. The Guangdong region saw the biggest year-on-year increase, up 69% to Yuan52.6bn, Jiangsu saw a 40% increase to Yuan47.5bn, Shanghai was up 44% at Yuan34.4bn and Beijing was up 40% at Yuan32.2bn.