Business / Industry Watch

Insurance income highest in 4 years

By Yang Ziman ( Updated: 2014-01-22 14:21

China's insurance industry achieved 365.8 million yuan ($60.4 million) investment income in 2013 with a 5.04 percent rate of return, a record high for the past four years, according to statistics the China Insurance Regulatory Commission released on Tuesday night.

Key areas for supervision are liquidity risk control, asset-liability management for insurers, and the management of high cash value insurance, the CIRC said.

Non-life insurance investment must be put under strict scrutiny. Innovation is allowed only when risks are regarded as controllable, according to CIRC's work plan for 2014.

"The most important tasks at present are making new progress in insurance for catastrophes, agriculture, business pensions and health, and liability," said Xiang Junbo, president of CIRC.

Total premiums reached 1.72 trillion yuan in 2013, up 11.2 percent and 3.2 percentage points higher year-on-year, reversing the downward growth rates of the past few years.

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