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China big life insurers' premiums up in Feb

(Agencies)
Updated: 2009-03-10 14:33

Combined insurance premiums at China's big three life insurers in February continued to grow, but at a slower pace compared to the previous month, the Shanghai Securities News reported on Tuesday.

Related readings:  China to allow insurers to invest in property  Insurers increase stock investments in January  Premium income of Chinese insurance industry up 39.1% in 2008

Total premiums at China Life Insurance, the life insurance arm of Ping An Insurance (Group) Co and China Pacific Insurance (Group) Co rose 5 percent on the year to 46.7 billion yuan ($6.8 billion), the paper quoted unnamed sources as saying.

The slower growth in February was partly caused by restructuring of product lines at some companies, the paper said.

The insurance industry slowed down considerably late last year, but rose strongly in January, defying expectations for a further decline in growth.