BANCASSURANCE LEADS GROWTH AT MINSHENG LIFE

Bancassurance sales spearheaded strong growth in first half premiums at Chinese life insurer Minsheng Life Insurance this year. Total premium income for the period was Yuan3.66bn. Of that bancassurance represented Yuan2.567bn, a 464.3% increase on last year. New standardised personal policies were up 87.6% to Yuan496m, while premiums produced through intermediaries including insurance brokers and agents grew 151.1% year-on-year. Minsheng Life Insurance was the number one Chinese life insurer in terms of intermediary sales and number three over all in the first half.