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BIZCHINA> China Insurance
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China Life sees lower market share
By Li Huayu (chinadaily.com.cn)
Updated: 2008-05-04 10:51
In 2007, China Life Insurance had a market share of 39.73 percent, down from 44.6 percent in 2006. Its premiums reached 196.62 billion yuan ($28.13 billion), up 8.53 percent, compared with 13 percent growth in 2006.
In the first two months of 2008, the company's premiums were 59.66 billion yuan, a year-on-year increase of 38.6 percent, lower than growth of the industry's personal insurance premiums. Premium growth of China's personal insurance companies was 58.19 percent higher than a year earlier. Some analysts attributed China Life's dwindling market share to its absence of multi-purpose and unit-linked insurance businesses, which surged 558 percent and 110 percent respectively with last year's booming stock market. ...... The full text is available in the April Issue of China Insurance. (For more biz stories, please visit Industries)
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