Apr. 27, 2012 (China Knowledge) - The top four life insurance companies in China reaped a combined insurance premium income of RMB 229.4 billion in the first quarter of this year, 1.6% less than in the same period of 2011, sources reported.
In the first three months, New China Life Insurance Co<601336><1336>, the only one of the four companies that saw growth in premium income, booked RMB 35.1 billion in premium income, 16.0% more than in the corresponding period of 2011.
China Life Insurance Co Ltd<601628
>, the country's largest life insurance company, experienced the biggest decline of 7.5% in premium income, which stood at RMB 113.8 billion.
Ping An Life Insurance Co Ltd, the life insurance unit of Ping An Insurance (Group) Co<601318
>, realized RMB 48.4 billion in premium income, reflecting a drop of 1.7% year on year.
China Pacific Insurance (Group) Co Ltd<601601
> saw its life insurance premiums fall 0.62% year on year to RMB 32.1 billion in the first quarter.