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China Insurer Reports Excellent Performance
The China Pacific Insurance Company accumulated 7.09 billion yuan in premiums in the first half of this year and 529 million yuan in profits, a rise of 30.4 percent over the same period in 1999.
This result is due to the company's business strategy which is customized to meet the needs of the market and realize high profits. The company has also carried out a series of administrative and commercial reforms in an effort to improve business.
Headquartered in Shanghai, the insurer 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.
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