China Life Insurance Co, the world’s biggest life insurer by market value, on Tuesday revised up its 2009 net profit growth forecast to more than 200 percent from 2008, citing accounting rule changes.
China Life did not give details on its 2009 earnings, but said that it posted a net profit of 10.068 billion yuan ($1.47 [...]
China Pacific Insurance (Group) Co, the nation’s third-largest insurer, rose in its Hong Kong trading debut, the best first-day performance among the three biggest public share sales in the city this year.
The shares climbed 1.1 percent to HK$28.3 at the close, erasing losses of as much as 1.8 percent earlier. The company raised HK$24.1 billion [...]
China Pacific Insurance (Group) Co and the country’s pension fund plan to raise as much as HK$25.93 billion ($3.3 billion) in a Hong Kong share sale that may be the city’s second-biggest this year, four people familiar with the plan said.
The nation’s third-largest insurer and the National Social Security Fund are offering 861.3 million shares [...]
Central Huijin Investment Co Ltd, the domestic arm of China’s sovereign wealth fund, is buying a 38.8 percent stake in New China Life Insurance Co Ltd (NCL) from Insurance Protection Fund, the latter said in a statement yesterday.
Tags: China Financial, China-Life, Insurance
To conform to the new Insurance Law, China Life Insurance Company Limited has performed compliance restructuring of its insurance products. It has upgraded or stopped the sale of some renewable riders and one-year principal products, said a source from the company’s Chengdu branch.
In Chengdu, Sichuan province alone, more than 100,000 customers are affected, according to [...]
China Life Insurance Company Limited, the country’s largest life insurer, posted a net profit of 5.95 billion yuan (871.74 million U.S. dollars) in the third quarter of this year, up 154.55 percent year on year.
The company attributed the profit surge to the improvement in the country’s equity market, which led to higher investment returns, it [...]
