Jul. 17, 2012 (China Knowledge) - China Life Insurance Co Ltd<601628
>, the country's largest life insurance
company, has said that its insurance premium income could reach RMB 185.4 billion in the first half of this year.
The figure reflects a decline of 5.17% from RMB 195.5 billion in the same period of last year.
The insurer also said that it has completed the issue of RMB 28 billion in subordinate bonds with a maturity of ten years. China Life also expects its net profit in H1 to fall 29% YoY.
China Life's rival Ping An Insurance (Group) Co<601318
> says its life insurance unit, Ping An Life Insurance Co Ltd, realized RMB 75.37 billion in premium income from January to June, reflecting a growth of 4.4% YoY.
China Pacific Insurance (Group) Co Ltd<601601
> booked RMB 55.2 billion in life insurance premium income in the period.
New China Life Insurance Co<601336><1336> saw its insurance premium income hit RMB 55.95 billion in the six-month period.