BEIJING, Feb. 14 (Xinhua) -- 31 of China's 64 life insurance companies posted profit in 2018, many of which realized a year-on-year earnings growth of over 100 percent, according to their solvency reports for the fourth quarter disclosed recently.
According to the solvency reports, 25 life insurance companies saw growth of comprehensive solvency adequacy ratio and core solvency adequacy ratio in the fourth quarter of 2018.
The total profit of life insurance companies is estimated at 169.77 billion yuan, posting an increase of 22.07 percent year on year, compared with the 26.02 percent decline of property insurance companies, reported the Xinhua-run Shanghai Securities News.
An industry insider attributed the profit growth to the initiative transformation to life protection of the companies, which increased the source of profits as well. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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