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Life insurance premium income drops
(CRIENGLISH.com/Asia Pulse)
Updated: 2005-03-29 15:37

China's life insurance companies realized premium income of 55.124 billion yuan (US$6.7 billion) in the first two months of 2005.

The figure is 3.412 billion yuan or 5.83% less than in the same period of 2004, but property insurance companies reported a rapid growth, with premium income reaching 22.076 billion yuan, 6.237 billion or 39.38% more than in the same period of last year.

Premium income of domestic companies amounted to 53.635 billion yuan.

China Life Insurance Co Ltd, Ping An Insurance Co Ltd and Pacific Life Assurance Co Ltd ranked the top three, with income reaching 27.545 million, 9.355 million and 7.422 billion yuan, respectively.

Foreign capital companies realized premium income of 1.489 billion yuan, with American International Assurance Co Ltd (AIA), Pacific-Aetna Life Insurance Co Ltd and Generali China Life Insurance ranking the top three.

Premium income of domestic and foreign capital property insurance companies reached 21.813 billion yuan and 263 million yuan, respectively.

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