Premiums came to more than 915 billion yuan (HK$1.04 trillion) in January through November, Wu Dingfu, chairman of the China Insurance Regulatory Commission, was quoted as saying by Xinhua News Agency. But Wu cautioned that while premiums growth was still significant, insurers' investment income was shrinking. Insurers earned about 93 billion yuan from their investments in January through November, down two- thirds from the same period last year.

They made 279 billion yuan last year, the best on record. The authorities have told insurers to broaden their investment channels, urging them to buy equity in private firms and investing in infrastructure projects. Wu said the CIRC will encourage insurance firms to do so.

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In the first 11 months of the year, insurers paid out 267.5 billion yuan in claims. Regions hit by blizzards in January and a killer earthquake in May have received 5.5 billion yuan and 1billion yuan, respectively, as insurance compensation, Wu said.

The Shanghai Composite Index lost nearly 70 percent up to October. But it picked up more than 15 percent last month after Beijing unveiled a 4trillion yuan stimulus plan.