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China Taiping’s premium rose 27% in the first seven months of 2017

15-08-2017

 

On August 14, China Taiping Insurance Holdings (Stock code: HK00966) released the premium income from January to July 2017. Taiping Life; Taiping General Insurance and Taiping Pension accumulated a premium this year amounting to about RMB 98.938 billion annual growth of 27.02%.

 

Among them, the accumulated premium income of Taiping Life; Taiping General Insurance and Taiping Pension of the first seven months of 2017 was about RMB 835.7 billion; RMB 12.329 billion and RMB 3.062 billion, increasing respectively by 28.79%, 18.57% and 16.55% comparing to the same periods in 2016.

 

The Mid-Year Work Conference took place on 25th July 2017 in Shanghai. China Taiping disclosed that the total premium income for the first six months had achieved RMB 100.80 billion, which exceeded the hundred billion mark for the first time.  Total asset of the Group has exceeded RMB 500.00 billion and total asset under management is nearly RMB 900.00 billion. China Taiping over-fulfilled all the business objectives and made gratifying achievements. The rate of premium income growth, the value of new businesses and the intrinsic values for Taiping Life have all performed well.  The rate of growth of domestic General insurance premium is above market average.  The Group's corporate annuity business has been ranked as the fastest growing company in the market. Credit Suisse recently issued a research report that raised its forecast for China Taiping's new business value growth from 29% to 38%.