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  • October 1, 2014
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  1. Business - China Business

    Chinese insurer PICC P&C's first-half profit rises 16.8pc on underwriting

    Posted Aug 27th 2013, 12:00am by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com Profit of insurer PICC P&C rises 16.8pc Stronger-than-expected underwriting profits and investment income lifted the first-half earnings of PICC Property and Casualty (PICC P&C) 16.8 per cent year on year but the outlook for the mainland's non-life insurance sector remains challenging. PICC P&C, the mainland's ...

  2. In Brief

    Posted Dec 01st 2007, 12:00am by Staff Reporter

    ... PICC shares retreat on motor insurance losses Shares of PICC Property and Casualty closed down 1.96 per cent at HK$12.02 yesterday after the insurer announced that operating and accumulated losses in the compulsory motor insurance sector for the year to June hit 1.03 billion yuan. Jasmine Wang ...

  3. Business - China Business

    Claims drag down profit growth at PICC P&C

    Posted Mar 29th 2014, 01:13am by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com Gains in investment income at mainland's biggest non-life insurer fail to offset costs Claims drag down profit growth at PICC P&C PICC Property & Casualty (PICC P&C), the mainland's biggest non-life insurer, saw its profit growth slow to 1.5 per cent last year as increased claim costs offset an improvement ...

  4. Business - Money

    PICC to lift capital with 5.8b yuan rights issue

    Posted May 21st 2013, 02:15pm by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com PICC to lift capital with 5.8b yuan rights issue A planned rights issue would help PICC Property and Casualty, the mainland's biggest non-life insurer, to record faster premium growth and business expansion, analysts said. But shares in PICC fell 2.55 per cent to close at HK$9.94 in Hong Kong despite analysts' positive views ...

  5. Business - Comment - MONEY MATTERS SHIRLEY YAM

    There is little comfort from the line-up of main investors

    Posted Nov 24th 2012, 12:00am by Shirley Yam

    ... Shirley Yam PICC is keen to float and that puts it in a weakened bargaining position. Further, it may be doing the right job, but not a great one There is little comfort from the line-up of main investors The initial public offering of the mainland's largest general insurer, People's Insurance Company (Group) of China (PICC), raises lots of doubts. The firm is trying ...

  6. Business - Money

    PICC raises US$3.1b in Hong Kong's biggest IPO this year

    Posted Nov 30th 2012, 02:26pm by Bloomberg

    ... years, two people with knowledge of the matter said. PICC Group sold about 6.9 billion shares at HK$3.48 apiece, near the bottom of a marketed range, said the people, asking not to be identified ... spokeswoman for PICC Group declined to comment on the final price. Founded in October 1949, PICC Group offers property, casualty, life and health insurance products. It had about 130 million ...

  7. Insurance giant PICC posts profit rise of 192pc

    Posted Mar 26th 2011, 12:00am by Toh Han Shih

    ... Toh Han Shih The Hong Kong share price of PICC Property and Casualty fell 4.6 per cent to HK$9.23 yesterday, despite the mainland insurer announcing an almost 200 per cent jump in net profit for last year. PICC's net profit soared 192.3 per cent to 5.21 billion yuan (HK$6.2 billion), while turnover grew 28.8 per cent to 154.31 billion yuan in 2010. Its operating cash flow ...

  8. Business - Commodities - DISPOSALS

    Sinopec sells 30pc stake in fuel unit for 107b yuan

    Posted Sep 15th 2014, 04:40am by Eric Ng

    ... and Shenzhen PICC Tencent Munsun Energy Investment Fund, backed by PICC Asset Management and internet giant Tencent Holdings. Other investors include Haier Electronics Group, conglomerate Fosun ...

  9. Business - China Business - REGULATION

    Chinese insurers fined 111m yuan over price fixing in car policies

    Posted Sep 03rd 2014, 10:19am by Kwong Man-ki

    ... 15.99 million yuan and China United Property Insurance got a fine of 10.29 million yuan. PICC Property & Casualty, the first company to report to the NDRC and submitted a report on the key ...

  10. Business - Money

    PICC jumps in debut trading, lifted by strong retail demand

    Posted Dec 07th 2012, 01:20pm by Jeanny Yu

    ... Jeanny Yu PICC Group (1339.HK) rose sharply on its debut on Friday as retail investors flooded in to buy the shares speculating that Hong Kong's biggest initial public offering (IPO) ... on the Hong Kong market stood at HK$35.69 billion. “We got a great number of orders from retail clients this morning to buy PICC, much bigger than the last few IPO stocks, ” said Jonathan Wang, ...




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