China Pacific Insurance Records Strong Improvement in Life Business While P&C Segment Struggles
China Pacific Insurance’s first-half results recorded a 45.6% decline in net profits against the year-ago period due to unfavorable stock market performance and increased reserves on lower bond rates. The results reflected a strong improvement in life insurance, while property and casualty insurance remained challenging despite modest improvement in the combined ratio. Life insurance new business value surged 55.9% from the year-ago period, with embedded value growing 4.7% from 2015. New busines...China Pacific Insurance (Group) Co., Ltd. is a China-based company mainly engaged in the insurance business. The Company operates its businesses through life insurance business, including individual life insurances, group life insurances, and short-term casualty and health insurances, among others; property insurance business, including motor vehicle insurances and non motor vehicle insurances, as well as asset management business, including bond investment, equity investment and investment real estate, among others. Through its subsidiaries, the Company is also engaged in the pension business. It operates its businesses primarily in domestic market.
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