China Life 1q09 premium up 1.8% compare to 1q08 and Mar MTD 09 premium down 13.4%.
There is a trend of slow down in growth compare to last year, on the other hand, month to month premium growth still keeping in a nice increasing pace.
I won't change my target price at this stage. Given that LFC's may enjoy a nice investment gain this year, there is no point for me to adjust it down simply because premium growth slow down or no growth at all for this year.
4.14.2009
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