China Li sciphone i9 fe's premium income down 3.9% in Jan-May

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China Life's premium income down 3.9% in Jan-MayPublished: 16 Jun 2009 18:12:26 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comPetroChina seeks partner for RMB 15-bln refinery in ChongqingCNPC to start Sino-Burma pipeline construction in SepChina Life's premium income down 3.9% in Jan-MayIBM inaugurates Global Rail Innovation Centre in BeijingChina's fiscal revenue rises 4.8% in MayJun. 17, 2009 (China Knowledge) - China Life Insurance Co Ltd<601628><2628><LFC>, the country's largest insurer by premiums, on Monday announced that its unaudited premium income in the first five months of this year totaled RMB 145.6 billion.

The figure reflected a 3.9% decline compared with the RMB 151.5 billion recorded in the same period of last year. The drop was steeper than the 1.6% fall for the first four months of 2009.

In May, the insurer's premium income stood at RMB 19.61 billion, down 16.5% year on year, representing a decline for the third consecutive month.

The larger decline in premiums is a result of high base figures from last year and of the effect of the adjustment of the company's business structure.

China Life's smaller rival Ping An Insurance (Group) Co<601318><2318> said earlier that its life insurance unit, Ping An Life Insurance Co of China Ltd, recorded RMB 61.6 billion in unaudited premiums from January to May, according to an earlier report from China Knowledge.


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