China Re 2010 Consolidated Assets Topped CNY100bn

China Reinsurance (Group) Corporation January 23 stated that its consolidated business income came to CNY 38.269 billion in 2010 and consolidated assets stood at more than CNY 100 billion for the first time.

China Re chairman Li Peiyu discloses that up to CNY 38.129 billion of the aggregate business income was consolidated premium revenue.

The reinsurance group will build a new management mode, enhancing management capacity. The company will take reinsurance, direct insurance and assets management as core businesses and major profit stream. Other units like insurance brokerage and insurance media will be auxiliary operations, the chairman adds.

The reinsurer recorded CNY 29.202 billion consolidated premium revenue, CNY 102.57 billion consolidated assets and CNY 1.183 billion consolidated pre-tax profit by the end of September 2010.

China Reinsurance (Group) Corporation days ago won a regulatory approval to increase its registered capital to over CNY 7.53 billion. The company had over CNY 6.33 billion in registered capital in terms of its 2009 results.