China insurance firms Q1 profits double

China s insurance firms are expected to have more than doubled their profits in the first quarter from a year earlier, boosted by the economy s strength, the insurance regulator said. Chinese insurance companies are expected to post a 110 percent year-on-year increase in profits in the first three months to 18.0 billion yuan ($2.6 billion), the China Insurance Regulatory Commission (CIRC) said late on Tuesday. Overall premiums in January-March reached 454.1 billion yuan, an increase of 38.6 percent from a year earlier, it said in a statement on its website (www.circ.gov.cn). That compared with a 13.8 percent rise in 2009. The ...

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