Insurers' profits rose by 25% in 2010

The profits made by insurers in China are up by 25% in 2010, totaling 8.7 billion USD. The premiums volume reported is poised to reach 1340 billion CNY (203.5 billion USD), that is, an increase of 30% over one year.
The official statistics of the 2006-2010 five-year plan report an annual turnover growth rate of 24.2%.
The authorities said they had received more than 100 applications for license for the establishment of new insurance companies. Most of these requests came from large state owned companies.