Insurer's target
Source: Xinhua |
May 16, 2011, Monday
|
Print Edition
Print Edition
CHINA'S largest general, non-life insurer, PICC Property and Casualty Limited) is striving to become one of the top five global insurers by premium volume in the next five to 10 years, according to a top official of the company.
Wang Yincheng, president of PICC P&C, said on Saturday that in order to achieve this, the insurer seeks to increase annual premium volumes to 300 billion yuan (US$46.15 billion).
The company, which ranked No. 8 in the global non-life insurance market in 2009, witnessed a 192.3 percent jump in its 2010 net profit to 5.21 billion yuan year on year, while sales revenue increased 28.8 percent to 154.31 billion yuan from a year ago.
(Xinhua)
Wang Yincheng, president of PICC P&C, said on Saturday that in order to achieve this, the insurer seeks to increase annual premium volumes to 300 billion yuan (US$46.15 billion).
The company, which ranked No. 8 in the global non-life insurance market in 2009, witnessed a 192.3 percent jump in its 2010 net profit to 5.21 billion yuan year on year, while sales revenue increased 28.8 percent to 154.31 billion yuan from a year ago.
(Xinhua)
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