Posted on: Wed, 23 Jun 2010 07:27:15 EDT
Symbols: LFC
BEIJING, Jun 23, 2010 (SinoCast Daily Business Beat via COMTEX) --
China's biggest life insurer China Life Insurance Co. during the first five months of this year realized accumulative premium revenues of CNY 95.5 billion from the new personal life insurance policies, thus taking the first place among all life insurance companies based in China's Mainland.
Based in the southern boomtown Shenzhen, Ping An Insurance (Group) Company of China as the country's second biggest insurance group harvested accumulative personal life insurance premiums of CNY 35.4 billion from the new policies in the five months, thus ranking No.2, just following Beijing-based China Life.
Actually, the new accounting standards have already resulted in the reshuffle of China's life insurance sector. The robust performance of China Life can be attributed to the long-term sustainable development planning of the insurer. At the time of putting its focus on the traditional products and participating insurance, the company is also boosting the investment-linked insurance and the universal insurance.
Source: www.cnstock.com (June 23, 2010)
From Trading Markets.Com published on 06/21/2010 – 4:45 am PDT
