Companies

PICC P&C says profit tripled in 2010

(Xinhua)
Updated: 2011-03-26 12:46

BEIJING - China's largest general, non-life insurer, PICC Property and Casualty Company Limited (PICC P&C), said Friday its 2010 net profit tripled from a year ago in an expanding market network.

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Net profits hit 5.21 billion yuan ($788 million), an increase of 192.3 percent, the best performance since its listing in 2003.

Sales revenue increased 28.8 percent to 154.31 billion yuan.

By the end of last year, the company's total assets rose 22 percent from the beginning of the year to 201.79 billion yuan.