China Life reaps RMB 264.8 bln in premium in Jan-Oct

Nov. 19, 2008 (China Knowledge) - China Life Insurance Co Ltd<601628><2628><LFC>, the country's largest life insurance company, said its unaudited premium income has reached RMB 264.8 billion in the first ten months this year, according to its filing with the Shanghai Stock Exchange.

The figure indicates a year-on-year rise of 55.1%, compared with RMB 170.1 billion it had posted for the same period of last year. However, the growth rate is lower than 57% recorded in the Jan.-Sep. period this year.

In October alone, China Life Insurance reaped RMB 16.2 billion in premium income, up 41% from RMB 11.5 billion a year earlier, but down 31% compared with RMB 23.4 billion recorded in September this year.