New China Life Jan-Aug Premiums Broke CNY67bn
Monday, Sep 06,2010, 9:59:19 PM Click:
New China Life Insurance Co. obtained more than CNY 67 billion premiums in the first eight months of 2010, representing a year-on-year increase of 60%.
Premiums derived from its core insurance business exceeded CNY 39 billion. The core business covered 55% of its total businesses, of which personal regular-premium business took a 94% weight. Of its bancassurance premiums, 22% came from new single-premium bancassurance, of which those with a maturity of over five years accounted for 94%.
The 13-month persistency rate of its personal insurance and bancassurance exceeded 85% and 95% respectively and 25-month persistency rate maintained a leading position in the life insurance industry. These can endure positive growth of regular-premium products and further boost the core insurance business.
NCL takes a second place on China top 500 list of life insurers just behind China Life Insurance Co.
The life insurer will continue to spend more in improving service procedure and serve platform to provide a wider range of quality services for clients, said president He Zhiguang.
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