CPIC’s Strong NBV Growth Continued; P&C Profitability Boosted by Improvement in Auto Insurance
China Pacific Insurance’s 2016 results recorded a 32% decline in net profit against the year-ago period, owing to the unfavorable stock market performance that led to a 19% drop in investment return, along with increased reserves on lower bond rates, which expanded to 32% of total premium. The results reflected solid improvement in the life insurance business, with new business value, or NBV, achieving industry-leading growth of 56% from 2015. This growth exceeded our expectations, owing to a 34...
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