Jan 14 (Reuters) - Ping An Insurance (Group) Co of China Ltd , the world's second-biggest life insurer by market value, said on Saturday its 2011 insurance premium revenue was 207.4 billion yuan ($32.9 billion).

The firm said in a filing to the Shanghai stock exchange that its units, the Chinese subsidiary of Ping An Life Insurance Company, Ping An Property Insurance Company, Ping An Health Insurance Company and Ping An Annuity Insurance Company had insurance premium revenues of 118.97 billion yuan, 83.3 billion yuan, 131 million yuan and 5 billion yuan, respectively.

Earlier this month, China's new insurance regulator said the insurance industry will see lower profits in 2012 as it faces a grim operating environment and struggles with problems ranging from poor customer service to unethical salesmen.