China sees nearly five-fold increase in auto insurance premium within 8 years

2009-04-03 Beijing

Auto insurance premium in China increased to RMB 170 billion (approx. US$25 billion) in 2008, from RMB 37 billion (approx. US$5.4 billion) in 2000, a more than 4.5-fold increase within eight years and an average annual growth of more than 20 percent, said an executive at PICC at a forum.