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China Life Reports Sound Top Line Growth

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advance4 September 14, 2011 (Chinavestor) China Life Insurance (NYSE:LFC), the largest Chinese life insurer, reported operational numbers for the month of August as follows. Total premiums income, e.g. insurance policies sold YTD, reached RMB237.0 billion ($37.057 billion) by the end of August.

This is a 4.08% improvment from 2010 when China Life Insurance (NYSE:LFC) reported total premiums income of RMB227.7 billion.

LFC_2011aug_premsvs2010

Investors may wonder why stock price of China Life (NYSE:LFC) fell over 40% YTD when the company is reporting healthy top line growth. The problem is with net income. We argued that the Company paid out a lot more for insurance claims than it did in the past. See our related analysis after 2011 second quarter report came out: Large claims related payout hurts LFC profitability.

Shares of rival Ping An Insurance (HKG:2318) and China Pacific Insurance (HKG:2601) are down -33.9% and -12.7% YTD, respectively.



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