A report from Beijing (through Yahoo’s news services) notes that China’s Guangdong Province collected property insurance premiums of about 10.1 billion yuan ($1.2 billion) in 2004, up 15 per cent year from the previous year.
The Guangdong Provincial Insurance Regulatory Bureau compiled the figures.
Total premium income within the province were more than 35.4 billion yuan ($4.21 billion), increasing by 15 per cent over 2003. According to the report the increase exceeded the average growth of the country as a whole for the first time since 1998.
Life premiums were 24.4 billion yuan ($2.9 billion), 15 per cent more than in 2003 and seven percentage points higher than the national average growth. Insurance claims paid out in the province hit 8.1 billion yuan ($963 million) in 2004.
Was this article valuable?
Here are more articles you may enjoy.
Brightline Lands $350 Million Assured Loan in Case of Bankruptcy 
Florida Bans Flock Cameras, License Plate Readers From State Roads 
Nuclear Verdicts Go Boom, Increase 40.7% in 2025 
State Farm Sued by LA County for Delays, Denials to Fire Victims 
