China's direct premiums written, the total insurance premiums received before taking into account reinsurance ceded, increased 19.68 percent on a yearly basis to reach 2.07 trillion yuan in the period from January to October, according to data released by China Insurance Regulatory Commission (CIRC) on Monday.
In a breakdown, 688.66 billion yuan were collected by property insurers, up 11.56 percent compared with the same period last year, while the remaining 1.38 trillion yuan were collected by life insurers, a 24.19 percent increase on year.
CIRC data also showed that Chinese insurance firms paid 692.96 billion yuan in claims in the ten months through October, up 19.84 percent year on year.
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