Jan. 16, 2012 (China Knowledge) - China's Taikang Life Insurance Co has said that its insurance premium income fell 4.8% year on year amid a slowing Chinese insurance industry.
The life insurer saw its insurance premium income drop to RMB 82.6 billion last year from RMB 86.77 billion in 2010.
Taikang Life, which is 12.02% held by Goldman Sachs Group Inc, reaped a profit of more than RMB 2 billion in 2010.
Chairman Chen Dongshen said last year that the insurance firm aims to launch a dual listing in Shanghai
and Hong Kong
within three years.
In 2011, China's insurance industry reaped RMB 1.43 trillion in insurance premiums, 10.4% more than that in the previous year. The growth rate was slower than the 30% increase in 2010.