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Macau: China Life commands nearly 60% of life market

Source: Asia Insurance Review | Nov 2015

Mainland Chinese insurer, China Life Insurance, increased its share in Macau’s life insurance sector to 59.2% during the first half of this year from 41.96%, according to data released by Monetary Authority of Macao (AMCM).
   The overall life insurance market in Macau expanded by 72% for the first six months of the year to MOP5.65 billion (US$708 million) from MOP3.29 billion for the corresponding period last year.
   China Life increased its premiums the fastest compared to the other insurance companies in the market, raking in MOP3.35 billion in gross premiums for the first six months compared to MOP1.38 billion for the corresponding period last year.
   Life insurance accounted for 83% of the overall insurance market in Macau in the first half of this year. According to the AMCM website, there are 11 companies operating in the territory’s life insurance market.
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