SHANGHAI - China Pacific Insurance (Group) Co., Ltd. (CPIC) disclosed today that its subsidiaries have experienced a rise in accumulated primary premium income for the period from January 1, 2024, to November 30, 2024. The life insurance division, China Pacific Life Insurance (NS:LIFI) Co., Ltd., reported an increase of 2.2% year-on-year, reaching RMB 228.842 billion. Meanwhile, China Pacific Property Insurance Co., Ltd., including data from its subsidiary Pacific Anxin Agricultural Insurance Co., Ltd., saw a 7.0% growth, with accumulated income amounting to RMB 187.033 billion.
The company has emphasized that the reported figures are unaudited and investors should take note of this when considering the information. The premium income calculations adhere to the PRC Accounting Standards for Business Enterprises No. 25 - Original Insurance Contracts and the Ministry of Finance's Regulations regarding the Accounting Treatment of Insurance Contracts.
CPIC, headquartered in Shanghai, operates as a joint stock company with limited liability under the laws of the People's Republic of China. The announcement of the income growth comes as part of the company's regular financial disclosures and is intended to provide transparency to shareholders and potential investors.
This report is based on a press release statement and has not been independently verified. Investors are advised to exercise due diligence when using this information for investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.