First-Quarter Profit of China Insurers May Have Risen 110%, Regulator Says
The combined first-quarter profit of China’s insurers may have risen 110 percent from a year earlier to 18 billion yuan, Wu Dingfu, Chairman of the China Insurance Regulatory Commission, said in a statement posted to the regulator’s Web site.
First-quarter premiums gained 39 percent from a year earlier to 454 billion yuan, according to the statement. Wu also reiterated in the statement that China’s insurers aren’t allowed to invest in property.
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