China's five A-share listed insurance companies have posted a combined premium income of nearly CNY2.2trn ($324m) for 2018, an increase of 10.8% over 2017.
The premium incomes for 2018 disclosed to the stock exchange by the five insurance giants were:
Premium income 2018 (CNY bn)
Premium income 2017 (CNY bn)
Change
Life business
China Life
536.2
512.3
4.7%
Ping An Life
446.9
368.9
21.1%
China Pacific Life
201.3
174.0
15.7%
New China Life
122.3
109.3
11.9%
PICC Life
93.7
106.2
-11.8%
Non-life business
PICC P&C
388.0
349.3
11.1%
Ping An P&C
247.4
216.0
14.6%
China Pacific P&C
(consolidated with Anxin Agricultural Insurance)
118.6
105.1
12.9%
Others
Ping An Pension
21.1
17.6
19.9%
Ping An Health
3.7
2.1
76.2%
PICC Health
14.8
19.3
-23.3%
Total
2,194.0
1980.1
10.8%
The aggregated growth rate of 10.8% for 2018 of the five insurance groups is estimated to have exceeded the industry average, details of which are yet to be published.
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