China’s insurance sector sees steady Q3 growth in assets

It rose 10.8% to an estimated $4.12t.

Official data from the National Administration of Financial Regulation (NAFR) revealed that China's insurance sector's total assets amounted to about $4.12t at the end of the third quarter of 2023, Xinhua News Agency reported.

This represents a 10.8% increase compared to the previous year.

READ MORE: Assets of China's insurance companies see steady expansion

Additionally, China's insurance premium income rose by 11% year-on-year to $590b in the first three quarters of 2023. 

Expenditure on compensation and payment during the same period increased by 20.1% year-on-year to reach $190b.