Insurance Giants' Jan-July Premium Revenue Differed

Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318; SEHK: 2318), the country's second biggest insurer by premiums, witnessed a growth in premium in July 2009, while two other insurance giants China Life Insurance Company Limited (SHSE: 601628, SEHK: 2628) and China Pacific Insurance (Group) Co., Ltd. (CPIC and SHSE: 601601) suffered a negative growth each.

By the end of July 2009, premium revenue of Ping An Insurance had reached about CNY 104.838 billion, growing 33.93% over the same period of a year earlier. Premium revenue of China Pacific Insurance (Group) hit a total of CNY 60.9 billion in the first seven months of this year, inching down 0.98% over a year earlier, and premium revenue of China Life, the largest life insurance firm in the nation, hit CNY 191.1 billion, dropping 5.88% over the previous year.

The China Insurance Regulatory Commission required insurance firms to curb too much concern on bancassurance since the start of August 2008.

Source: www.nbd.com.cn (August 18, 2009)

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