China Life insurance premiums grow 4.7 pct in Jan-May period

China Life Insurance Co. Ltd., a leading insurer in the country, saw its premium income increase by more than 4.7 percent year-on-year in the first five months of 2019, company data showed.

Premium income in the January-May period totaled 321.6 billion yuan (about 46.7 billion U.S. dollars), according to unaudited figures released by the insurer.

Chinese insurers have seen stronger premium growth in recent months after authorities tightened regulations last year to fend off financial risks in the world's second-biggest insurance market.

The sector has shown a stronger capacity to forestall risks as its overall leverage has gradually dropped and business structure improved, the country's insurance regulator said in December.

The company also recorded a 4.7 percent increase in premium income in 2018.

(ASIA PACIFIC DAILY)