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Best insurance supply - China Life Insurance broadening business 2013: China Life Insurance Co. (LFC) will primarily focus on expanding its life insurance policy service this year despite expanding stress due to slower sales in the field, Head of state Yang Mingsheng claimed Thursday.
The business will certainly additionally eye investment opportunities in state-backed tasks in regions like the Yangtze River Delta and also the Zhujiang Delta, Mr. Yang said at a press rundown after the business reported a 40% decrease in 2012 web earnings late Wednesday, pointing out a "decline in investment yield" and also an "boost in disability losses arising from continued weak point in capital markets."
Internet revenue for the YEAR finished Dec. 31 was 11.06 billion yuan ($1.78 billion) compared with CNY18.33 billion a year earlier, China's top life insurance company by premiums stated.
Mr. Yang additionally said bancassurance sales are most likely to continue falling this year as insurance companies encounter enhancing competitors from financial institution products such as high-yield riches monitoring products.
China Life's vice president Liu Jiade said regional securities market could see some enhancement this year, which would help enhance the firm's investment yield along with reduce problems losses.
Financial investment earnings for 2012 rose to CNY80.01 billion from CNY64.82 billion, while financial investment yield was up to 2.79% from 3.51%, as well as problems losses greater than doubled to CNY31.05 billion from CNY12.94 billion, it claimed late Wednesday.
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| Illusrtation China Life Insurance expanding business 2013 |
The business will certainly additionally eye investment opportunities in state-backed tasks in regions like the Yangtze River Delta and also the Zhujiang Delta, Mr. Yang said at a press rundown after the business reported a 40% decrease in 2012 web earnings late Wednesday, pointing out a "decline in investment yield" and also an "boost in disability losses arising from continued weak point in capital markets."
Internet revenue for the YEAR finished Dec. 31 was 11.06 billion yuan ($1.78 billion) compared with CNY18.33 billion a year earlier, China's top life insurance company by premiums stated.
Mr. Yang additionally said bancassurance sales are most likely to continue falling this year as insurance companies encounter enhancing competitors from financial institution products such as high-yield riches monitoring products.
China Life's vice president Liu Jiade said regional securities market could see some enhancement this year, which would help enhance the firm's investment yield along with reduce problems losses.
Financial investment earnings for 2012 rose to CNY80.01 billion from CNY64.82 billion, while financial investment yield was up to 2.79% from 3.51%, as well as problems losses greater than doubled to CNY31.05 billion from CNY12.94 billion, it claimed late Wednesday.
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