Ping An of China Jan.-Oct. Premium Income Up 30.47%

Ping An Insurance (Group) Company of China Ltd. (SHSE: 601318) states in an announcement that its three major holding subsidiaries recorded about CNY 190 billion in original premium revenue in the first ten months this year, expanding by 30.47 percent over the period of last year.

The group's life insurance, property insurance, health insurance and endowment insurance units gained around CNY 135.473 billion, CNY 50.19 billion, CNY 151.29 million and CNY 4.21 billion in premium, leaping by 20.73 percent, 57.64 percent, 113.57 percent and 175.49 percent over the ten months of the prior year respectively.

The Chinese insurer brought in CNY 16.4 billion premium revenue in October alone, down by 8.38 percent from the previous month but up by 34.43 percent from the month of last year.

The four units pulled in about CNY 77.88 billion, CNY 50.19 billion, CNY 53.21 million and CNY 3.59 billion premium income separately in the January-October period in terms of the Chinese corporate accounting standard.