THE city plans to launch a five-year campaign to regulate the insurance industry and improve its service.

The campaign is expected to be carried out in stages, with different years allotted to different aspects of the insurance market.

The city’s insurance industry has achieved fast development in recent years, which generated a total income of more than 15.3 billion yuan last year, a 33.4 percent year-on-year increase. The growth was 4 percentage higher than the average level in Shandong Province.

There are 46 insurance institutions in the city, including 24 property insurance companies and 22 life insurance ones.

Besides, there are 56 insurance agencies and 23 insurance branches in the city.

The output of the city’s insurance industry is close to 28 billion yuan.

(Li Hao, Fu Jun)