CPIC is steadily shifting toward value creation in the life insurance business.
Net profit growth of no-moat China Pacific Insurance, or CPIC, slowed to 27% in the first half from 88% in the first quarter. The results were a bit disappointing on a decline in life insurance agent headcount, which might indicate weaker agent sales than peers, and underwriting losses in nonauto P&C insurance business. Similar to China Life, the robust bottom-line growth was primarily attributable to write-back of insurance reserve expenses. Excluding the CNY 3.7 billion decrease in insuran...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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