Ping An Insurance Group (601318.SH) and China Life Insurance (601628.SH) both posted lower premium income growth for July, reports China Business News.

China Life posted premium income of 19.8 billion yuan in July, up 10.13 percent month-on-month. Total year-to-date premium income through the end of July grew 5.23 percent year-on-year to 10.7 billion yuan.

China Life’s market share has fallen for four straight months since February. Premium income growth in April and May was negative.

Ping An posted premium income of 13.6 billion yuan in July, up 11.73 percent month-on-month. Premium income year-to-date as of July 31 totaled 129.5 billion yuan. Life insurance income grew 35 percent year-on-year to 78.8 billion yuan in the first seven months, while premium income of property insurance, health insurance, and annuity insurance respectively grew by 6.6 billion yuan, 12.34 million yuan, and 400 million yuan in July to total 47.3 billion yuan, 69.33 million yuan, and 3.3 billion yuan.