Chinese insurers' premium income up 32.45% in Q1

BEIJING - Premiums received by Chinese insurers rose 32.45 percent in the first quarter, compared with the same period last year, official data showed Wednesday.

Premiums reached 1.59 trillion yuan ($230 billion) from January to March, said the China Insurance Regulatory Commission (CIRC).

By the end of March, the industry had combined assets totalling 16.2 trillion yuan, up 7 percent from the beginning of the year.

The commission attributed the steady growth of premium income to better regulation and risk protection.

Since the beginning of this year, financial regulators have worked to prevent systemic risks as the importance of financial security grows. Last month, the CIRC announced a targeted campaign against violations to restore market order, with measures against false capital contributions, chaotic corporate governance, irregular investments and fake data.