BEIJING (Dow Jones)--China's insurers collected CNY598.61 billion worth of premiums in the first half of this year, up 6.6% from a year earlier, China Insurance Regulatory Commission Chairman Wu Dingfu said Monday.

He said insurers had CNY3.7 trillion assets at the end of June, up 10.9% from the start of the year.

Insurers allocated 50.2% of their funds to bonds, down 7.7 percentage points from the start of the year, and 9.8% to equity investments, up 1.9 percentage points, Wu said in a statement on the CIRC's Web site.

Funds were also allocated to bank deposits among other channels, he added.