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China's Picc Property & Casualty Optimistic On Returns For H2

 

Tuesday, Aug 16,2011, 10:47:38 PM   Click:

Chinese insurer PICC Property & Casualty Co., (SEHK:02328) on Monday said that despite the turbulence of the market, it was still optimistic about the company's rate of returns from investment for the second half of the year. Wu Yan, president of the company, said during a news conference in Hong Kong that the company had expanded investment in fixed income assets and this would hedge against fluctuations in the market. The company released a better-than-expected H1 report showing that its net profits doubled from the year earlier period, reaching 5.29 billion yuan (US$827.9 million), thanks to a large growth in profits from accepting insurance.

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