Insurers expect better fortunes in 2013, after tough 12 months

Six leading players report combined net profits of $7.51 billion in 2012, a 22 percent drop from 2011

Despite a plunge in 2012 net profits, China's major insurance companies say they expect a more prosperous 2013, thanks to the relaxation of rules making it easier for them to raise new funds and expand into investment businesses.

In the past two weeks, six of China's largest insurers listed in Shanghai and Hong Kong have released annual figures for 2012, showing combined net profits of 46.7 billion yuan ($7.51 billion), a 22 percent drop on 2011.