BEIJING, March 29 (Xinhua) -- China's top 5 listed insurance companies will enjoy a better expectation for annual investment income since A-shares stock market has rebounded significantly this year, reported the Xinhua-run China Securities Journal.
China's major insurance companies have recently upgraded their forecast for firms' investment yields in the 2019 fiscal year.
“Affected by capital market's strong performance, the value of the insurance companies' open market equity assets has significantly increased, while there is still some uncertainty in investment income due to stock market volatility and accounting policies. However, thanks to the companies' proper market orientation and equity investments arrangement, major insurance firms predicted companies' investment returns will show a positive growth this year,” said Zhao Peng, vice president of China Life Insurance Company.
In 2018, China's top 5 listed insurance companies achieved a total investment income of 345.8 billion yuan, a decrease of nearly 54 billion yuan or 13.47 percent. The total investment return rate was only 5.2 percent for Ping An Insurance, and that of remaining four were below 5 percent last year.
(Edited by Bao Nuomin, Yang Yifan, baonuomin@xinhua.org, yangyifan@xinhua.org)
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