On October 16th, China Taiping Insurance Holdings (Stock Code: HK00966) announced the premium income from January to September 2017. The cumulative premium income total of Taiping Life, Taiping General Insurance, Taiping Pension was about 116.964 billion yuan (RMB), up by 25.7 percent annually.
Among them was, Taiping Life, Taiping General Insurance and Taiping Pension, where for the first nine months, the cumulative premium income was 97.58 billion yuan, 15.391 billion yuan and 3.815 billion yuan respectively, according to the same period in 2016 to increase 27.8%, 14.4% and 22.0%
In the first half of 2017, China Taiping Insurance’s total premiums exceeded 100 billion yuan for the first time, and the Group aims to maintain its rapid development for rest of the year. China Taiping Domestic insurance business and its Overseas subsidiaries business proliferated, and the operation strength continued to improve on an international level. The Group investment business has developed steadily, and asset management scale has continued to increase.
Deutsche Bank raised its target price to HK$38.7 after the August interim results of China Taiping Holdings (HK00966).