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China Life Insurance policies grew 6.3 percent

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percent July 15, 2010 (Chinavestor) China Life Insurance (NYSE:LFC), the largest Chinese life insurer, announced accumulated insurance premiums to reach RMB183.6 billion ($27.079 billion) for the first six months of 2010. Accumulated insurance premiums mean the value of total insurance policies sold.


The RMB183.6 billion represents an increase of 6.3 percent from RMB172.7 billion for the same period in 2009.


But as the monthly break-down of insurance policy growth testifies, the growth trend has been slowing since the beginning of the year. June was the weakest month for the company when China Life Insurance (NYSE:LFC) registered premiums income of RMB20.1 billion ($2.964 billion).

Chinese insurers have been enduring a treacherous ride in 2010 so far. Shares of China Life Insurance (NYSE:LFC) fell 13.6 percent YTD correlating very closely with that of Ping An Insurance (HKG:2318), its largest competitor.

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