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The product was launched on April 22, 2008, when the Shanghai Stock Exchange Composite Index closed at 3,147, compared to 1,706 on November 4. During the period the company sold only two investment-linked life insurance policies in Shanghai, said the executive, adding that both of them were sold to the insurer's employees.
Besides, many other local life insurance companies have also withdrawn their investment-linked insurance products from banks, said a financial consultant with Bank of China. And he disclosed that universal life insurance policies were not well sold in the city, either, but only participating insurance can attract consumers' attention sometimes.
In addition, Ping An Insurance (Group) Company of China Ltd. said that its premium from investment-linked insurance products accounted for about 7% of its overall premium revenue presently.
From www.nbd.com.cn, Page 1, Wednesday, November 05, 2008 info@SinoCast.Com
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