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China Life's premium income down 5.17% in H1

Jul. 17, 2012 (China Knowledge) - China Life Insurance Co Ltd<601628><2628>, 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><2318> 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><2601> 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.

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