Ping An Insurance (Group), the mainland's second-biggest life insurer, reported unaudited net profit jumped at least 50 per cent last year as a result of robust economic growth in the mainland.
Ping An said its 2005 profit was 3.33 billion yuan, implying profit was at least five billion yuan last year.
It said it would announce the final earnings 'in due course'.
Ping An, in which HSBC has a 19.9 per cent stake, said profits of its mainstay life insurance operations beat the historical record in mainland accounting terms.
The group attributed the strong performance to a marked increase in consumer spending amid a favourable macroeconomic environment.
Combined with its investment strategies, the company's operations registered profit growth across the board, it said.