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NCL undergoes strategic shift

(chinadaily.com.cn)
Updated: 2007-07-27 14:25

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Recent statistics from the China Insurance Regulatory Commission showed the January-May premium income of New China Life Insurance Co Ltd (NCL) totaled 9.983 billion yuan (US$1.32 billion), down 3.41 percent from the same period of last year.

But NCL officials considered the decrease the price paid for their structural reform, rather than a setback.

"Some people said our business is slowing down, but we don't think so," Said Sun yuchun, chief of strategic management center from NCL. "Although our premium income is lower, our core business has developed very fast."

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The full text is available in the July Issue ofChina Insurance.