China Life reports 5.5% rise in premiums
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China Life Insurance (Group) Company, the country's top insurer, announced Tuesday its premium income topped 132.9 billion yuan (19.5 billion U.S. dollars) in the first four months of the year, up 5.48 percent year on year.
The company made the announcement in a document filed to the Shanghai Stock Exchange. But the Beijing-based insurer did not specify why premium income rose.
The company's net profit rose 66.6 percent year on year to 10.21 billion yuan in the first quarter of the year.
The insurer's A-share price shed 5.56 percent to 23.97 yuan per share Monday as the benchmark Shanghai Composite Index slumped 5.07 percent to its lowest level in almost a year.
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