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Taikang Life sees 4.8% drop in 2011 premium income

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.







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