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China Taiping's premium income up 12.74% in Jan-Feb

Mar. 14, 2012 (China Knowledge) - China Taiping Insurance Group Co, the parent company of China Taiping Insurance Holdings Co Ltd<0966>, announced that its insurance premium income grew 12.74% year on year to RMB 8.53 billion in the first two months of this year.

The company said in a statement that premium income from life insurance business rose 10.13% year on year to RMB 7.29 billion and that from property insurance business grew 18.92% to RMB 1.07 billion in the two-month period.

The pension insurance business generated RMB 166 million of premium income, reflecting a robust growth of 283.03% year on year.

China Taiping said earlier that it reaped a total of RMB 42.4 billion in insurance premium income in 2011. Taiping Life Insurance Co realized RMB 31.46 billion in premium income, 4.74% less than in 2010, according to an earlier report from China Knowledge.

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