Feb. 27, 2007 (China Knowledge) – The total insurance premiums collected by insurance companies from their insurance products in Shanghai reached RMB 40.7 billion for 2006, according to a press release from the Shanghai branch of China Insurance Regulatory Commission (CIRC).

Out of the total insurance premiums, premiums from non-life insurance products increased to RMB 10.52 billion and the remaining RMB 30.18 billion came from life insurance products.

The premiums collected by foreign insurance companies increased 34% to RMB 7.8 billion compared to a year ago, accounting for 19.17% of the total.

As at the end of 2006, the total assets of insurance companies in Shanghai reached RMB 127.6 billion, out of which, total assets of foreign insurance companies increased to RMB 27.26 billion, accounting for more than 21% of the total.