On January 18th, China Taiping Insurance Holdings (Stock Code: HK00966) released its premium income from January to December 2017. Its affiliated companies Taiping Life, Taiping General Insurance and Taiping Pension’s accumulative total premium income this year was roughly 140.597 billion yuan (RMB, same below), according to 20.63% annual growth.
Among them, the 2017 annual cumulative premium income of Taiping Life, Taiping General Insurance and Taiping Pension was 113.925 billion yuan, 22.069 billion yuan and 4.604 billion yuan respectively, up by 20.73%, 21.39% and 14.82%.
Credit Suisse has recently issued a research report that states its confidence on the growth prospects of the Chinese insurance industry. Chinese Taiping (00966), one of the best insurance company within the industry, has remained as a leader in investment rating and raised its target price to HK $40.