China's PICC reports rise in H1 revenue, net profit

BEIJING -- The People's Insurance Company (Group) of China Limited (PICC), the country's leading insurer, registered an increase in revenue and net profit in the first half of this year (H1).

The insurer's business revenue reached 344.1 billion yuan ($53.05 billion) in the first six months, up 2.2 percent year-on-year.

Its net profit attributable to shareholders of its parent company amounted to 16.9 billion yuan, up 34 percent year-on-year.

In the January-June period, the PICC provided 2 trillion yuan of risk protection insurance for agriculture and 270 billion yuan for technological companies.