China Pacific Insurance Nine-Month Profit Rises 24% on Year

By Gaurav Raghuvanshi Features Dow Jones Newswires

China Pacific Insurance (Group) Co. Ltd. (2601.HK) Friday reported a 24% on-year increase in its net profit for the first nine months of the year as premium income rose.

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Net profit in the January-to-September period was 10.93 billion yuan (US$1.64 billion), compared with CNY8.83 billion in the same period of last year, the insurance firm said in a filing with the Hong Kong Exchange.

Gross written premium rose 24% on year to CNY233.57 billion, while operating income was up 21.4% at CNY258.96 billion, China Pacific said.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

October 27, 2017 06:20 ET (10:20 GMT)