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China Taiping sees 11.14% rise in premium income in Jan-Aug

Sep. 13, 2012 (China Knowledge) - China Taiping Insurance Holdings Co Ltd<0966>, or CTIH, has announced that its insurance premium income totaled RMB 29.04 billion in the first eight months of this year, 11.14% more than in the same period of last year.

The company said in a statement its life insurance business recorded RMB 23.52 billion in insurance premium income, reflecting a growth of 7.03% year on year.

The property and casualty insurance business saw its premium income jump 29.06% YoY to RMB 4.89 billion in the eight-month period.

The pension insurance sector realized RMB 632 million in insurance premium income from January to August, 72.22% more than in the corresponding period of 2011.

The company said earlier that its net profit attributable to shareholders amounted to HK$536.67 million in the first half, representing a decrease of 32.3% YoY, due to negative result from its wholly owned reinsurance operation.

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