China's insurance sector reported stable growth in premium income in the first 11 months of 2021 with improved capability to bolster the real economy, according to the China Banking and Insurance Regulatory Commission.

The premium income totaled 4.2 trillion yuan (about 658.9 billion U.S. dollars) during the period, while insurance compensation rose 15.4 percent year on year to 1.4 trillion yuan, the commission said.

The industry has played an increasingly important role in serving the real economy in recent years, as the aggregate of insurance coverage provided by the sector soared 34.6 percent from a year ago in the same period.

As of the end of November last year, total assets of the industry stood at 24.6 trillion yuan, up 12.1 percent year on year.