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November 21 Insurance Daily丨The top five listed insurance companies achieved premium income of 2.52 trillion yuan in the first ten months! Insurance agents are fighting for a "good start".
The premium income of the top five listed insurance companies reached 2.52 trillion yuan in the first ten months! Product switching combined with a 'good start' preparation, life insurance premium growth slowed down starting from October 1st, and the maximum guaranteed rate for dividend insurance was lowered from 2.5% to 2.0%. With the landing of rate reductions for traditional insurance and dividend insurance, the pulse-like growth of life insurance premiums has come to a temporary halt. The latest premium data for January-October 2024 shows that China Life Insurance, Ping An Life Insurance, Taikang Life Insurance, New China Life Insurance, and PICC Life Insurance achieved a total premium income of approximately 1.55 trillion yuan, with a year-on-year growth of 5.5%, further slowing down from the premium growth rate in January-September.
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Golden Financial News | CMB International indicated that the slowing growth rate of life insurance premiums in October is in line with market expectations, mainly due to the previous scheduled interest rate reduction leading some customers to advance their savings demand, as well as listed insurance companies achieving their annual performance goals and shifting focus to a strong start in 2025, driving changes in product and operation strategies. The cumulative premium growth rate of life insurance of listed insurance companies in the first 10 months slightly decreased compared to the previous month. Channel survey results indicate that there are still certain challenges in the sales of dividend insurance; the bank predicts that the additional 2.5% pricing of whole life, annuity, and universal life insurance will continue to be the key products for sales openings in the industry, especially for mid-sized insurance companies. Looking ahead to the fourth quarter, the bank forecasts...