RSS Feed
China Pacific life insurance Co., Ltd. and Taikang life insurance Co. are set to pay special bonus to holders of participating insurance policies.
China Pacific Life, currently being the third-largest life insurer in the country, decides to pay a total CNY 860 million such bonus, and Shanghai-listed Taikang Life will pay more than CNY 3.6 billion.
The two insurers once did so in 2008 when the participating insurance products were mired in stiff competition from various funds and investment-linked insurance. Since participating insurance has replaced investment-linked insurance and universal insurance to dominate the Chinese market, many insurers are adding ante on it.
Stiffer competition between China Pacific Life and Taikang Life for the third position in life insurance industry is another reason for the upcoming generous payment of special bonus, said market watchers. Both expect to attract more clients.
China Pacific Life obtained CNY 33.7 billion premiums from new personal insurance policies in the first five months of 2010, meanwhile Taikang Life got CNY 34 billion, up 56.5 percent year on year.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Posted in 
