LIFE insurance companies in China, both domestic and foreign-funded, collected 481.89 billion yuan (US$70.55 billion) in premiums in the first seven months of this year, up 66.7 percent year on year, the China Insurance Regulatory Commission said yesterday.

The growth rate was 2.3 percentage points higher than in the first half alone, it said. In terms of life insurance premiums, the total included 203 billion yuan for China Life, up 54 percent, 61.4 billion yuan for Ping An's life insurance company, up 30 percent, and 43.7 billion yuan for Pacific Insurance's life assurance branch, up 58 percent.