China insurance industry's premium income grew 34.68% y-o-y from CNY1,704 billion (US$255.78 billion) to CNY2,295 billion in the first eight months of the year, according to CIRC.
Private health insurance firms' premium income jumped 94% during in January to July 2016, according to CIRC data.
China's insurance regulator said in a statement that it will enhance agriculture insurance development.
A diversified business portfolio is proving a boon to Ping An Insurance (Group) as Chinese insurers endure tough times, according to SNL team at S&P Global Market Intelligence.
Several insurers with a history of 10 years or fewer have become leading players in the five biggest insurance markets in China.
The CIRC is tackling a queue of at least 25 applications for approval to set up domestic reinsurance companies.
AIA Group will increase investment in the mainland as it sees a long-term opportunity in the growing demand for protection from the country's swelling middle-class consumers.
Hangzhou-headquartered Sinatay Life Insurance is raising its capital base - the third time for the company since 2015 - to fund its expansion.
Ant Financial Services aims to match investment demands of China's grassroots investors via artificial intelligence amongst other factors.
China GDP is projected to grow at 6% this year, said IMF Managing Director Christine Lagarde.
"There is clearly an increasing understanding of risk - as opposed to just insurance - at the board levels, and that generates a completely different discussion to the ones we had a few years ago. "
- Mr Simon Gilliat, Head of Central & Eastern Europe, Middle East and Africa, Willis Towers Watson.
Ins Communications Pte Ltd 69 Amoy Street, Singapore 069 888 Tel: (65) 6224 5583 Fax: (65) 6224 1091 | © 2015 All rights reserved.