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New China Life's premium income hits RMB 94.8 bln in 2011

Jan. 18, 2012 (China Knowledge) - New China Life Insurance Co<601336><1336>, a major life insurer in China, announced yesterday that its unaudited insurance premium income amounted to RMB 94.80 billion last year.

The figure reflected an only 1.2% increase from the previous year.

In the month of December, the company's insurance premium was RMB 6.03 billion, down 2.65% from the previous month.

New China Life raised a total of US$1.89 billion through dual listing in Shanghai and Hong Kong in December, which was the largest IPO in the world since September last year when Sinohydro Group<601669> raised US$2.1 billion through an IPO on the Shanghai bourse.

China's insurance industry reaped RMB 1.43 trillion in insurance premiums in 2011, 10.4% more than that in the previous year, China Knowledge reported earlier.

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