Ping An units see 6pc fall in income

Ping An Insurance (2318) said the gross premium income of its four subsidiaries for the first quarter fell 5.99 percent year-on-year to 257.8 billion yuan (HK$283.5 billion).

Gross premium income Ping An Life Insurance Company of China fell 11.02 percent to 174.2 billion yuan, while the gross premium income of Ping An Property & Casualty Insurance Company of China inched up 4.87 percent to 72.5 billion yuan in the first quarter. Gross premium income of Ping An Annuity Insurance Company of China and Ping An Health Insurance Company of China was 11 billion yuan in the first quarter in total, up 19 percent.

Meanwhile, China Life Insurance's (2628) first-quarter gross premium income rose 13 percent to 307.8 billion yuan while New China Life Insurance's (1336) gross premium income rose 34.92 percent to 58.25 billion yuan in the first quarter.