Magazine date:
Jul 2008 The sector's regulation commission has announced that on June 12, 2008, the insurance companies disbursed 306.6 million CYN (45 million USD) to the victims of the earthquake which shook the Sichuan Province on May 12, 2008. This amount paid is broken down as follows: 171.6 million CYN (25 million USD) for the life class of business and 135 million CYN (20 million USD) for property insurance. The companies have received a total of 249 000 claims advices.
In terms of human cost, the earthquake toll has been particularly heavy with 69 163 lives claimed.