BEIJING, April 26 -- China's insurance premiums surged 42.2 percent year on year to 1.2 trillion yuan (184.44 billion U.S. dollars) during the first quarter (Q1) of the year, an official with the insurance watchdog said Tuesday.
Insurers paid out 289.13 billion yuan in compensation during the period, up 25.1 percent from one year earlier, Bai Yun with the China Insurance Regulatory Commission told a briefing.
Life insurance premiums soared nearly 88 percent year on year to 579 billion yuan.
The Internet is really transforming the way insurance is sold in China, Bai said.
Online life insurance premiums skyrocketed 554.86 percent from one year earlier to hit 9.3 billion yuan.
Total assets of the country's insurance companies rose to 13.85 trillion yuan at the end of March, up 12.09 percent from the start of the year.
The evolution of J-10 fighter
Top 10 Asian beauties in 2016
What's happening in Xisha Islands?
When female soldiers meet flowers
North Sea Fleet conducts drill in West Pacific Ocean
Old photos record the change of Sichuan over a century
Breathtaking aerial photos of tulip blossoms in C China
Horrific: Pit swallows 25 tons of fish overnight
Vietnamese Su-30 fighters fly over Nanwei Island in South China Sea
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
Affection for young actors takes root, who says you have to be a teen to be a fan?
High-end brands closing mainland stores as Chinese spend more overseas
Private detectives cash in on China’s rampant marital infidelity
HRW meddles ineptly in deportation caseDay|Week
