Friday, August 29, 2014   

Ping An profit surges
(04-29 16:35)

Ping An Insurance Co., one of China's biggest state-owned insurers, says its quarterly profit soared 46.2 percent on stronger insurance and banking business.
Ping An said Tuesday it earned 10.8 billion yuan, or 1.37 yuan per share, in the three months ending March 31. Revenue rose 28 percent to 147.1 billion yuan, AP reports.
Life insurance premiums rose 22.7 percent to 91.8 billion yuan while those for property and casualty were up 27.9 percent at 34.7 billion yuan.
Profit at Ping An's banking subsidiary rose 40.8 percent to 5 billion yuan.   
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