Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road
News for Outlets

【Financial Str. Release】Top five listed insurers in China report growths in Q1 premium incomes

April 16, 2021


Abstract : The five largest listed insurers in China earned in total 973.178 billion yuan of premium incomes in the first quarter, up 2.64 percent year on year, reported Xinhua-run Xinhua Finance Friday.

0416-1.png

BEIJING, April 16 (Xinhua) -- The five largest listed insurers in China earned in total 973.178 billion yuan of premium incomes in the first quarter, up 2.64 percent year on year, reported Xinhua-run Xinhua Finance Friday.

In the first quarter, they, namely China Life Insurance Company Limited (601628.SH), the People's Insurance Company (Group) of China Limited (601319.SH), Ping An Insurance (Group) Company of China, Ltd. (601318.SH), China Pacific Insurance (group) Co., Ltd. (601601.SH) and New China Life Insurance Company Ltd. (601336.SH) made 323.9 billion yuan, 203.40 billion yuan, 243.78 billion yuan, 138.71 billion yuan and 63.39 billion yuan of premium incomes.

Except for Ping An Insurance (Group) Company of China, Ltd., others all saw their quarterly premium incomes increase from the first quarter of 2020, with respective rises at 5.23 percent, 4.97 percent, 6.27 percent and 8.84 percent.

Ping An Insurance (Group) Company of China, Ltd. reported for the first quarter 5.45 percent year-on-year decline in its premium incomes due to the slowdown of renewal premium income growth.

Market watchers said that the good start for the four large listed insurers was resulted from their upsized inputs and benefits from the changed definition of critical illness and apart from China Life Insurance Company Limited, the other four all embraced hefty growths in new business.

For Ping An Insurance (Group) Company of China, Ltd., new contract premiums from its individual life insurance and health insurance business grew 19 percent year on year to 51.2 billion yuan.

According to the non-banking financial research team of China Merchants Securities, market players remained currently relatively pessimistic over the future growth of insurers because mainly of the slack sales in February and March.

However, the research team attributed the bad February-March sales to short-term factors such as changes in the strategies of insurers and working paces of insurance agents. As these factors are digested gradually, the listed insurers are still likely to realize U-shaped rebounding in this year. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: China Q1 Top five listed insurers Financial Str. Release

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial