Life insurance drags on premium income

Chinese insurance companies saw their premium income drop in the first four months of 2018 year-on-year, dragged down by the decline of the life insurance business due to stricter regulations, official data showed on Friday.

But, life insurers have started to see a turnaround, with premium declines slowing during the period, an indication that the industry is beginning to absorb the negative effect of tighter regulatory scrutiny.

The insurance sector reported total premium income of 1.66 trillion yuan ($259 billion) in the first four months of the year, down 7.84 percent year-on-year, according to China's banking and insurance regulator.