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China Life sees narrowed decline in insurance premium income

Jun. 18, 2012 (China Knowledge) - China Life Insurance Co Ltd<601628><2628>, the country's largest life insurance company, has said that its insurance premium income was RMB 21 billion in May this year, down 0.5% YoY but up 9.4% from April.

In April, the company's insurance premiums fell 14.3% YoY or 44.2% MoM to RMB 19.2 billion.

In the first five months of this year, China Life booked RMB 154 billion in insurance premium income, 7.5% less than in the same period of 2011.

China Life's rival Ping An Insurance (Group) Co<601318><2318> said earlier that its life insurance unit, Ping An Life Insurance Co Ltd, realized RMB 66.15 billion in premium income from January to May, reflecting a growth of 3.2% YoY.

China Pacific Insurance (Group) Co Ltd<601601><2601> booked RMB 45.6 billion in the period, down 1.7% YoY.

New China Life Insurance Co<601336><1336> saw its insurance premium income rose 11.8% YoY to RMB 47.86 billion in the five-month period.

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