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Distracted by the booming stock market, the premium income of life insurance companies in China dropped in general in the first five months of this year. The situation is worst for markets of developed regions like Beijing, Shanghai and Guangdong, the Shanghai Securities News reported Wednesday.

The premium income for life insurers in Beijing, Shanghai and Guangdong in January was 2.482 billion yuan (US$326.6 million), 2.751 billion yuan and 3.163 billion yuan respectively. The same figures in May dropped to 2.193 billion yuan, 2.207 yuan, and 2.539 yuan respectively.

However, if compared on a year-on-year basis, life insurers in most markets in China saw a monthly growth in premium income between January and May, except for Beijing and Shanghai.

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The full text is available in the July Issue of China Insurance.

(For more biz stories, please visit Industry Updates)