March 9, 2018 / 9:24 AM / 5 months ago

China insurance industry Jan premium income down 19.9 pct y/y

BEIJING, March 9 (Reuters) - China’s insurance industry’s total premium income in January declined 19.9 percent from a year earlier to 685.2 billion yuan ($108.15 billion), the China Insurance Regulatory Commission said on Friday.

The decline comes amid a nationwide crackdown on short-term risky universal life insurance products as the Chinese authorities seek to reduce risks and leverage in the financial system.

$1 = 6.3357 Chinese yuan Reporting by Beijing Monitoring Desk Editing by Jacqueline Wong

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