China's personal insurance market posted steady expansion in the first 11 months of the year, with premium income rising 7.4 percent year on year, according to the country's top banking regulator.

Personal insurance premiums in the country reached 3.1 trillion yuan (about 474.63 billion U.S. dollars) in the January-November period, accounting for 74.1 percent of the total premium income of the insurance industry, according to the China Banking and Insurance Regulatory Commission (CBIRC).

Total assets of the country's personal insurance companies have reached nearly 20 trillion yuan, accounting for 85.5 percent of the industry's total, said the CBIRC.

China will adopt a host of policy measures to promote the scale and quality of the personal insurance sector and facilitate its steady development, to meet people's diverse needs, according to a State Council executive meeting earlier this month.