BUSINESS China Life Insurance reports double-digit growth in premium revenue

BUSINESS

China Life Insurance reports double-digit growth in premium revenue

Global Times

02:41, March 16, 2020

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China Life Insurance Company’s logo stands atop a building in Beijing. China Life paid more than other listed State-owned firms for business-related entertainment expenses in 2012, according to survey results released Tuesday by information provider Gaotime. (Photo: CFP)

China Life Insurance Co., one of the country's biggest insurers, said its premium income rose 20.51 percent in the first two months of 2020.

The revenue reached about 228 billion yuan (about 32.56 billion US dollars), increasing from 189.2 billion yuan a year ago, according to unaudited figures released by the insurer.

The rise in premium income came as the insurer had already made a good start before the COVID-19 outbreak and enhanced its online services timely amid the epidemic.

Health insurers are encouraged to expand liabilities of accident and health insurance plans to cover COVID-19 infection in offerings, the China Banking and Insurance Regulatory Commission said last month.

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