China Life's premium income surged in 1st 9 months

China's largest life insurer China Life Insurance Co<601628><2628> said in a statement to Shanghai Stock Exchange, that it had generated RMB 158.6 billion (US$21.1 billion) in premium income in the first nine months of 2007, increasing by 6.7% compared to the same period last year.

The statistics were calculated based on China’s new accounting standard.

According to the China Securities Journal, China Life's premium income increased by 34.2% from the period of August to September, totaling at RMB 15.3 billion.

China's second largest life insurer Ping An Insurance (Group) Company of China Ltd<601318><2318>, said that its premium income was at RMB 76.02 billion (US$10.1 billion).

Total premium incomes consisted of RMB 59.7 billion in life insurance, RMB 16.3 billion in property insurance, RMB 1.09 million in health insurance, and RMB 51.54 million in endowment insurance.