Insurers raise investment returns
By Zhang Fengming |
January 22, 2010, Friday
|
Print Edition
Print Edition
PROPELLED by China's stock market, Chinese insurers improved their investment returns last year, the insurance regulator said yesterday.
Insurers reaped a total of 214.2 billion yuan (US$31.4 billion) from their investments in 2009, or a yield of 6.41 percent, the China Insurance Regulatory Commission said on its Website. The yield was 4.5 percentage points higher than the level in 2008.
"The insurance sector is developing better than expected," the CIRC said. "Insurers are showing better investment management with balanced income between fixed investment and equity holdings."
The returns from fixed investments totaled nearly 103 billion yuan while those from stocks were 103.6 billion yuan.
Insurers earned more than 53 billion yuan in profit last year as their investment returns improved, a turnaround from 2008 when they made a loss.
The benchmark Shanghai Composite Index surged 80 percent last year, shoring up insurers' stock holdings.
Total premium income rose 13.8 percent to 1.1 trillion yuan last year, the first time the insurance premium broke the 1 trillion yuan mark.
The CIRC is trying to shift the industry's growth engine from investment-linked products to traditional protection-driven polices as premiums surged in 2007 and 2008.
It also asked insurers to trim their reliance on banks and postal offices to sell their policies and instead build up their own sales agents and channels.
Insurers reaped a total of 214.2 billion yuan (US$31.4 billion) from their investments in 2009, or a yield of 6.41 percent, the China Insurance Regulatory Commission said on its Website. The yield was 4.5 percentage points higher than the level in 2008.
"The insurance sector is developing better than expected," the CIRC said. "Insurers are showing better investment management with balanced income between fixed investment and equity holdings."
The returns from fixed investments totaled nearly 103 billion yuan while those from stocks were 103.6 billion yuan.
Insurers earned more than 53 billion yuan in profit last year as their investment returns improved, a turnaround from 2008 when they made a loss.
The benchmark Shanghai Composite Index surged 80 percent last year, shoring up insurers' stock holdings.
Total premium income rose 13.8 percent to 1.1 trillion yuan last year, the first time the insurance premium broke the 1 trillion yuan mark.
The CIRC is trying to shift the industry's growth engine from investment-linked products to traditional protection-driven polices as premiums surged in 2007 and 2008.
It also asked insurers to trim their reliance on banks and postal offices to sell their policies and instead build up their own sales agents and channels.
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