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| Ping An sees 49.33% surge in premiums in Jan |
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| 2008-02-24 | |
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Feb. 18, 2008 (China Knowledge) - Ping An Insurance<601318><2318>, China's second largest life insurer, saw its premiums soar 49.33% in January to hit RMB 14.51 billion (US$ 2.01 billion), said the company on Friday. Ping An contributed the strong growth to the steady performance of its core business, life insurance, which totaled RMB 10.82 billion, up 42.9% year-on-year in 2007. Meanwhile, improved product mix and its tapping into the banking and asset management business also boosted its revenue. In 2007, Ping An procured RMB 100.7 billion in premiums, up17% from the previous year. Net profit is expected to double from 2006 thanks to its improved strategy and the launch of the new operation management platform. |
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