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The Shanghai branch of New China life insurance Co., Ltd. has witnessed premium of more than CNY 900 million by February 8, 2010, re-showing the robust growth trend.
At the same time, the premium from the bancassurance, personal insurance, and group insurance grew greatly respectively. Specifically, bancassurance premium hit CNY 590 million, including installment premium of CNY 110 million.
In 2010, the Shanghai branch reaped annual premium of CNY 7.7 billion, leaping 66% over the same period of a year earlier and captured 11.5% market share, taking the third place in the city market for four consecutive years. The premium of new personal insurance policies hit CNY 260 million, leaping 51% over a year earlier, much higher than the average market growth of 13%. The branch still took the first place with CNY 6.8 billion bancassurance premium, leaping 73% over a year earlier and including installment premium of CNY 2.25 billion.
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