Premiums boost for China Life

Business | Gary Poon 16 Apr 2019

China Life Insurance (2628) yesterday said that premium income rose 11.9 percent year-on-year to 272.4 billion yuan in the first quarter this year.

Its share price increased 0.71 percent to HK$21.2 yesterday.

China Taiping Insurance (0966) meanwhile said that the gross premium income of its subsidiaries rose 9 percent year-on-year to 68.12 billion yuan from January to March.

Its income in the first quarter from life insurance increased 9.84 percent to 59.98 billion yuan and from property and casualty insurance 5.18 percent to 6.46 billion. Income from pension business in the first quarter fell 2.4 percent to 1.67 billion yuan.

China Taiping Insurance's share price increased 2.22 percent to HK$25.35 yesterday.

Among other firms reporting results, China State Construction International (3311) said its profit in the first quarter rose 28.47 percent year-on-year to HK$2.16 billion.

The firm's new contract value was HK$34.6 billion, 28.8 percent of the full-year target for 2019.

Its share price increased 2.21 percent to HK$7.85 yesterday.

Elsewhere, China Coal Energy (1898) said coal production increased 42.68 percent to 90.6 million tonnes in March and sales volume rose 54.82 percent to 179.9 million tonnes.

Production in the first quarter grew 38.12 percent to 246 million tonnes and sales 38.12 percent to 246 million tonnes and 32.96 percent to 503 million tonnes.

Its share price decreased 0.6 percent to HK$3.29 yesterday.

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