Chinese PICC reports rise in premium income
Monday, 08 31 2020, Category: Insurance and Reinsurance, Country: China
Chinese PICC, the People's Insurance Company of China Ltd., the top insurer company across China, said that it saw a rise in its premium income in the starting half of the current year H1.
The premiums of the firm came in at a total of 336.84 billion yuan (around USD48.89 billion) in the period, a statement released by the company to the Shanghai Stock Exchange showed.
The net profits of the company stood at 12.6 billion yuan in the cited period, reporting a decline of 18.8 percent compared to a year ago.
The comprehensive solvency adequacy ratio of the firm came in at 325 percent in the first half year as the core solvency adequacy ratio stood at 271 percent, both being at high yet safe levels, according to the company.