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Growth of Property and Casualty Insurance Hit 20% in 2011

 

Monday, Jun 27,2011, 9:58:13 AM   Click:

Recently, several insurers published their premium report of May 2011. In terms of property and casualty insurance, premium revenue of Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An P&C) increased totally 36.2% in January to May compared to the same period of 2010. At the same time, premium revenue of China Pacific Property Insurance Co., Ltd. (CPIC Property) and PICC Property and Casualty Co., Ltd. (PICC P&C) went up 18.6% and 10.9% respectively.

Seen from life insurance, according to new accounting standards, premium revenue of China Pacific Life Insurance Company (CPIC Life) rose 11.5% in the first five months of 2011 compared to the same period a year earlier. In addition, the premium revenue of Taiping Life Insurance Co., Ltd. (Taiping Life Insurance) under old accounting standards decreased 8.4% in January to May. It is expected that the total premium revenue of Ping An Life Insurance Company of China, Ltd. (Ping An Life) increased totally 22.8% in the first five months of 2011.

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