PREMIUM income of insurance firms rose faster last month powered by a surge in sales of life insurance products, data from the China Insurance Regulatory Commission showed yesterday.

Insurers' premium income rose 21.6 percent to 176.85 billion yuan (US$28.8 billion) in June from last year, up from the 12.8 percent pace recorded in June 2012, according to CIRC data.

Premium income of life insurers jumped 25 percent in June, while that of property and casualty insurers was up 15.6 percent, the data showed. Total premium income in the first half increased 11.5 percent from a year ago to 951.2 billion yuan, of which premium for life insurance was up 8.97 percent and property and casualty insurance saw a 16.6 percent gain, the CIRC said.

The CIRC data comes after China's four listed insurance companies reported a surge in life insurance premium collection in June.

An Industrial Securities report attributed the fast rise in life insurance premium in part to insurance agents striving to meet requirements for the first half.