Total premiums of listed life insurance companies increased 12.7% in January 2012, according to insurance premium data issued by those companies.
The insurance premium of New China Life Insurance Co., Ltd. (SHSE: 601336; SEHK: 1336) hiked 19.6%; that of China Life Insurance Co., Ltd. (NYSE: LFC, SEHK: 2628, SHSE: 601628) grew 11.8%; that of Taiping Life Insurance Co., Ltd. increased 10.7%; that of China Pacific Life Insurance Company rose 4.3%.
Meanwhile, the China Insurance Regulatory Commission (CIRC) issued each company's scale premium and standard premium data for 2011, which shows that in life insurance industry, the scale premium increased 5.1% year on year, but the standard premium slipped 0.5% in 2011.
In January 2012, the original insurance premium of China Life Insurance accumulated to CNY 49.1 billion, increasing 11.8% year on year; that of China Pacific Life Insurance was CNY 12.2 billion; that of China Pacific Property Insurance Co., Ltd. was CNY 6.8 billion; that of Ping An Life Insurance Company of China was CNY 21.1 billion; that of Ping An Property & Casualty Insurance Company of China, Ltd. was CNY 9.7 billion; that of New China Life Insurance was CNY 13.2 billion.
Even though those life insurance companies' insurance premium increased in January, a reliable result on whether the increasing situation can be kept can not be made until the end of February at the earliest. The result will be made according to the combination of data in January and February, according to a research report of China International Capital Corporation Limited (CICC).
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