China 3 Top Listed Insurers Jan.-Aug. Premium Grew

Three top insurance companies in China saw premiums expand in terms of old accounting standards in the first eight months this year.

China Pacific Insurance (Group) Co., Ltd. (SHSE: 601601) raised premiums by 45.9 percent year on year, and the growth rate was higher than that of other two peers. Its life and property insurance units recorded CNY 65 billion and CNY 34.8 billion original premium income, expanding by 46.1 percent and 45.6 percent from a year earlier respectively. The premium income the insurance group made was CNY 96 billion by new accounting standards.

China Life Insurance Company Limited (SHSE: 601628) brought in about CNY 238.4 billion original premium revenue in the eight months, gaining by 13.2 percent over the period of last year. In the meanwhile, the insurer made about CNY 227.7 billion original premium revenue in accordance with new accounting standards.

Ping An Insurance (Group) Company of China (SHSE: 601318) increased premium income by 31 percent to CNY 155.7 billion in terms of old accounting standards; its premium income by new accounting standards was CNY 107.4 billion.