China Pacific Insurance reports premium income growth in first four months

BEIJING - China Pacific Insurance (Group) Co Ltd, one of China's insurance giants, reported a 3.43-percent year-on-year growth in original premium income in the first four months of 2020.

The revenue reached about 153.54 billion yuan ($21.64 billion), according to the insurer.

Its two subsidiaries, China Pacific Life Insurance Co Ltd and China Pacific Property Insurance Co Ltd, saw their premium income reaching 102.76 billion yuan and 50.78 billion yuan, respectively.

Last year, the insurer saw its revenue from insurance businesses up 8 percent to 347.5 billion yuan, and its profit attributable to equity shareholders stood at 27.74 billion yuan, a 54-percent surge year-on-year.