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China to double per-capita premiums by 2010

By Song Hongmei (chinadaily.com.cn)
Updated: 2006-10-23 08:58

China's premium density, per-capita insurance premiums, will reach 750 yuan (US$94.84) in five years as part of goals to raise the insurance industry's competitiveness by 2010, the country's industry regulator said on Sunday.

In 2010, combined premiums may account for four percent of the country's gross domestic product (GDP), according to an outline of the China Insurance Industry's Five-Year Plan for 2006-2010 released by the China Insurance Regulatory Commission.

China's per-capita premiums amounted to 367 yuan last year while the proportion of premiums against GDP stood at 2.7 percent, according to data compiled by Swiss Re.

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The full text is available in the October Issue ofChina Insurance