China's agriculture insurance income soared 112 percent to reach 10.54 billion yuan (US$1.54 billion) by last month, compared with the same period last year, the country's top insurance regulator announced on Saturday.

"With what we have achieved in 2008, we will further develop insurance related to agriculture, farmers and rural areas in 2009,'' said Wu Dingfu, chairman of the China Insurance Regulatory Commission.

According to Wu, agricultural insurance, with central fiscal support, was expanded to 16 provincial areas compared to last year, when the country initiated agriculture insurance trials in six provincial regions.

Some 4.22 billion yuan of crop and livestock insurance award has been paid to 10.32 million rural households this year.

The regulator planned to extend crop insurance to all major grain-growing areas nationwide next year, Wu said. More insurance plans would be developed for farmers.

Wu said the commission was also studying the setup of an insurance scheme against natural disasters.

(Xinhua News Agency December 29, 2008)