The China Pacific Insurance Company accumulated 12.2 billion yuan in premiums last year and 416 million yuan in profits, a rise of 30 percent over 1998.

This excellent result is due to the company's business strategy which is customized to meet the needs of clients and realize high profits. The company has also tightened cooperation with commercial banks and large enterprises and groups nationwide in an effort to improve business.

With headquarters in Shanghai, the China Pacific Insurance Co. is the first national state-owned joint-stock commercial insurance company in China, and ranked 48th among the world's top 200 insurers, according to the latest rating by Standard & Poor's. (Xinhua)