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China Pacific's premium income hits RMB 101.5 bln in Jan-Jul

Aug. 14, 2012 (China Knowledge) - China Pacific Insurance (Group) Co Ltd<601601><2601>, a major insurer in the country, announced yesterday that its insurance premium income amounted to RMB 101.5 billion in the first seven months of this year, up 4.2% year on year.

The company's life insurance unit booked a premium income of RMB 60.9 billion in the period.

The company's property insurance unit saw its premium income reach RMB 40.6 billion from January to July.

China Pacific Insurance also said that its life insurance unit has obtained approval from the China Insurance Regulatory Commission to issue up to RMB 7.5 billion of subordinate bonds.

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