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| Author: | Han, Guoqing |
| Title: | Life insurance market stepping into prosperity (original in Chinese) |
| Journal: | Economy and Information (c)
1998 : 3, p.26-27 |
| Index terms: | LIFE INSURANCE CHINA |
| Language: | chn |
| Abstract: | The business income of the insurance market in Beijing in 1997 was 8.994 billion yuan, RMB, up 90.5% over last year. Among it, the business income of property insurance was 2.637 billion yuan RMB up 8% over last year; the business income of life insurance amounted to 6.537 billion yuan RMB up 180%. over last year. The outstanding change is that the premium income of life insurance for the first time outnumbered that of property insurance. On the insurance market, life insurance accounts for 70.7% while property insurance 29.3%. In 1997, due to the lowering of financial institutions' deposit and credit interest rates and the fact that the scheduled interest rates of most long-term life insurance coverages were higher than the adjusted interest rates of banks, several life insurance companies in Beijing gained a income of 1 billion yuan RMB within a month. |
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