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Leading insurer company in China posts rising 2019 net profits
(MENAFN)
The People's Insurance Company (Group) of China Limited (PICC), the biggest insurer company in China, said in a financial report that an increase of 66.6 percent in its net profits was regisetered 2019.
The yearly financial report of the company said that the total net profits of the insurer increased to reach a total of USD3.2 billion in the earlier year of 2019.
The company said that the rise in profits came due to the ongoing expansion in buisnesses and the better capacity to make profits in China.
The premiums of the company increased 11.23 percent compared to the previous year to set at a total of USD77.83 in 2019.
The company saw its total assets rise 9.8 pecent compared to the previous year to reach a total of USD160 billion.
The People's Insurance Company (Group) of China Limited (PICC), the biggest insurer company in China, said in a financial report that an increase of 66.6 percent in its net profits was regisetered 2019.
The yearly financial report of the company said that the total net profits of the insurer increased to reach a total of USD3.2 billion in the earlier year of 2019.
The company said that the rise in profits came due to the ongoing expansion in buisnesses and the better capacity to make profits in China.
The premiums of the company increased 11.23 percent compared to the previous year to set at a total of USD77.83 in 2019.
The company saw its total assets rise 9.8 pecent compared to the previous year to reach a total of USD160 billion.
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