China Pacific Insurance earns RMB 77.8 bln in premiums in Jan-Sep

Oct. 15, 2009 (China Knowledge) - China Pacific Insurance (Group) Co<601601>, the country's third-largest life insurer by premiums, said the unaudited premium income from its two units amounted to RMB 77.8 billion in the first nine months of this year, according its filing with the Shanghai Stock Exchange.

The figure reflects a 1.4% rise compared with the same period of last year.

During the period from January to September, the premium income of China Pacific Life Insurance totaled RMB 50.8 billion, down from the RMB 54.6 billion the company reported in the same period of last year.

China Pacific Property Insurance realized RMB 27 billion in premiums during the same period, compared with the RMB 22.1 billion recorded in the corresponding period of last year.

China Pacific Insurance, in which U.S. private equity firm Carlyle Group holds a 17.32% stake, is the country's second-largest insurance company among insurers engaged in property insurance after Beijing-headquartered PICC Property and Casualty Co<2328>, which booked a RMB 95.72 billion in premium income during the period.