China Pacific Insurance 2010 Net Up 16.3%

China Pacific Insurance (Group) Co., Ltd. (SHSE: 601601) recorded CNY 8.557 billion in net profit attributable to shareholders of parent company, rising by 16.3 percent from a year ago, and its solvency adequacy ratio came to 357 percent, in terms of its 2010 results.

The insurance company brought in CNY 139.555 billion in insurance business revenue in 2010, expanding by 44.9 percent over a year earlier. Its total assets stood at CNY 475.711 billion, gaining by 19.8 percent over the prior year.

The insurer's life insurance income increased by 41.7 percent to CNY 87.873 billion and market share was 8.8 percent, up 0.5 percentage points year on year.

Its property insurance income reached CNY 51.622 billion last year, surging by 50.5 percent from a year ago; the growth rate was 16 percentage points higher than the average of the sector.

In the meanwhile, the insurance company invested CNY 433.385 billion in capital, gaining by 18.4 percent from the previous year. It raked in CNY 20.902 billion in aggregate investment income and CNY 16.952 billion in net investment income; its return on investment and net return on investment were 5.3 percent and 4.3 percent.