BEIJING - China's top five A-share listed insurance companies posted premium income of 1.4 trillion yuan ($203.3 billion) in the first half of this year, data from company statements showed.
The five insurance giants' premium income grew 7.6 percent year-on-year in H1.
Specifically, premium income of China Life Insurance, Ping An Insurance, China Pacific Insurance, PICC (People's Insurance Company of China), and New China Life Insurance reached 378.2 billion, 446.24 billion, 207.03 billion, 321.38 billion and 73.99 billion yuan in the first six months.
Given the rising premium income, a remarkable increase in the H1 net profits of listed insurance companies is expected by various institutions.
Insurers' market performance will be boosted by China's prudent monetary policy, timely counter-cyclical adjustment, and measures to cut taxes and fees, according to a report by China Great Wall Securities, a leading Chinese securities dealer.