China Pacific's Non-Auto Insurance Business Turned Profits for the First Time in Four Years
No-moat China Pacific Insurance’s 2017 results recorded 20% and 21.6% growth in net earned premium and net profits from 2016, which is largely in line with our expectation of 19.3% and 22% growth, respectively. Investment return grew 20% from 2016, also in line with our expectation for 19.5%, indicating gross investment yield up 0.2 percentage points to 5.4%. The past results highlighted continued improvement in life insurance business mix thanks to rapid growth in agent headcount and rising age...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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