January 30, 2018 / 10:55 AM / 19 days ago

Chinese insurers' 2017 net operating cash flow drops 65 pct -source

BEIJING, Jan 30 (Reuters) - China’s insurance companies saw their net operating cash flow fall 65 percent to 633 billion yuan ($99.9 billion) last year, a source with knowledge of the matter told Reuters on Tuesday, citing data in a government memo.

The net operating cash flow of life insurers dropped 47 percent, while property and casualty insurers saw their positions swing to negative, said the source, who was not authorised to speak to the media.

The source declined to be identified.

The China Insurance Regulatory Commission (CIRC), which has not published any data on the sector’s overall cash flow position, could not be reached for immediate comment outside business hours.

$1 = 6.3355 Chinese yuan renminbi Reporting by Shu Zhang and Ryan Woo; editing by Jason Neely

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