China Life Insurance Company doubles its profit
Posted on May 23, 2008
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According to The New York Times, the China Life Insurance Company has exceeded the expected profit by more than a half. This was caused by investment gains in the stock market and rising premiums from the Chinese economy. In 2006, it has earned only 8.97 billion yuan but in the first half of 2007, it has earned 23.29 billion yuan or $3.08 billion. It has an increase of 17% in gross written premiums and policy fees, or 63.7 billion yuan in the first half. This is good news for China’s largest insurance company and the insurance industry as a whole: this means that more and more people recognize the importance of having life insurance and can afford buying one.
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