Insurer's profit rises
By Cao Qian |
March 30, 2011, Wednesday
|
Print Edition
Print Edition
PING An Insurance (Group) Co yesterday said net profit rose 23.9 percent to 17.94 billion yuan (US$2.73 billion) last year on growing premiums, rising banking and investment incomes.
Insurance, one of its three pillar businesses, continued to grow at a rapid pace with premium income from the property and casualty division and life insurance reaching a new high, according to statements filed yesterday by the country's second-largest insurer to stock exchanges in Hong Kong and Shanghai.
Net income at Ping An Bank gained 61 percent to 1.74 billion yuan, and net profit of Ping An Securities rose 49 percent to 1.59 billion yuan, the Shenzhen-based firm said.
Insurance, one of its three pillar businesses, continued to grow at a rapid pace with premium income from the property and casualty division and life insurance reaching a new high, according to statements filed yesterday by the country's second-largest insurer to stock exchanges in Hong Kong and Shanghai.
Net income at Ping An Bank gained 61 percent to 1.74 billion yuan, and net profit of Ping An Securities rose 49 percent to 1.59 billion yuan, the Shenzhen-based firm said.
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