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Insurance profits double in China

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The China Insurance Regulatory Commission has said that country's insurance sector has posted a profit of 204.7 billion Chinese yuan ($32.97 billion) in 2014, more than double the profit recorded in 2013, China Daily U.S.A. reported.

Insurers' premium volume increased 17.5% year on year to CNY 2.02 trillion ($325.42 billion) for the period, said CIRC.

Capital gains from premium investment totaled CNY 535.9 billion ($86.33 billion), CIRC said, adding that the industry's total assets amounted to CNY 10.2 trillion ($1.643 trillion) at the end of 2014.

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