China Life, is poised to disburse between 500 million and 1 billion CYN

According to the first estimates, China Life, which controls about 70% of the Chinese market, is poised to disburse between 500 million and 1 billion CYN (72 and 144 million USD) in indemnifications for the earthquake victims. The insurer counts 110 000 clients in the affected areas, and the 516 claims filed up to the date of May 14, 2008 amount to 134 million CYN (19 million USD).
PICC property & Casualty Co., the country's number one property insurer, is set to disburse sums comprised between 1 and 2 billion CYN (144 and 288 million USD), which accounts for 1% to 2% of the premium volume it did generate in 2008.