Revenue from life insurance tapers off
By Xiao Feng |
August 17, 2011, Wednesday
|
Print Edition
Print Edition
GROWTH in Shanghai's life insurance business slowed in the first half of this year due to frequent interest rate increases while the property insurance sector benefited from fast-developing shipping services, the city's insurance regulator said yesterday.
Revenue from life insurance premiums reached 29.2 billion yuan (US$ 4.6 billion) in the first half, 6.2 percent higher from a year earlier, the Shanghai Bureau of the China Insurance Regulatory Commission said in a statement.
The increase was lower than the average 9.7 percent growth nationwide, and the 37.9 percent in Shanghai in the first half last year.
The regulator said revenue was also affected by a new calculation that took effect this year.
Revenue from life insurance premiums reached 29.2 billion yuan (US$ 4.6 billion) in the first half, 6.2 percent higher from a year earlier, the Shanghai Bureau of the China Insurance Regulatory Commission said in a statement.
The increase was lower than the average 9.7 percent growth nationwide, and the 37.9 percent in Shanghai in the first half last year.
The regulator said revenue was also affected by a new calculation that took effect this year.
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