Life insurance premium income growth slows in Q1

2014/5/28

From:Macau Business

The combined gross premium income of Macau’s life insurers was MOP1.44 billion (US$180.33 million) in the first quarter of this year, 12.1 percent more than a year earlier, Monetary Authority of Macau data show.

The growth rate was slower than in the preceding quarter.

The Macau branch of China Life Insurance (Overseas) Co Ltd overtook American International Assurance Co (Bermuda) Ltd’s Macau branch as market leader in the first quarter.

China Life had MOP530.87 million in premium income in Macau, or 36.9 percent of the market, having had 26.3 percent of the market last year.

Copyright@Macau Business