PICC P&C Says Profit Doubled Last Year on Expenses, Insurance Claims Cuts
Wednesday, January 19th, 2011 Auto Life & HealthPICC Property & Casualty Co., China’s biggest non-life insurer, said profit more than doubled last year to the highest since its Hong Kong listing in 2003, as the company cut expenses and claims. The unit made a “considerable” underwriting profit from motor insurance, the biggest business segment, Zhou Shurui, supervisory chairman of parent PICC Group, told reporters in Beijing yesterday. He cited unaudited numbers without being specific.
External References & Further Reading
http://www.bloomberg.com/news/2011-01-19/picc-p-c-says-profit-doubled-last-year-on-expenses-insurance-claims-cuts.html
