Photo by PIRO4D from Pixabay
China’s insurers hold steady assets in Q2
Year-to-date, assets grew 7.6%.
As of the end of the second quarter of this year, the total assets within China's insurance sector reached Y29.2t ($4.06t), reported by Xinhua news agency.
This marks a 7.6% increase from the start of the year, as reported by the National Financial Regulatory Administration.
READ MORE: Assets of China's insurance companies log steady expansion
Breaking down the data, property insurers experienced a 7.8% rise in assets to Y2.9t since the beginning of 2023, while life insurers witnessed a 7.1% growth, totalling Y25t.
ALSO READ: China’s insurers to take a hit from elevated risk in trust sector: Fitch Ratings
Reinsurance companies and insurance asset management firms also saw increases in their assets, with growth rates of 10.3% and 3.5% respectively from the start of the year.
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