Ping An Insurance Company of China has reported a net profit of RMB19.2 billion for the full-year period of 2007, an increase of 140.2% compared to RMB8 billion recorded in 2006.
Total income was RMB137 billion for the full-year period, an increase of 55.4% compared to RMB88.1 billion in 2006. Earnings per share was RMB2.61 for 2007, compared to RMB1.27 in 2006.
Gross written premiums, policy fees and premium deposits in the life insurance business were RMB79.1 billion for 2007, compared to RMB68.2 billion in 2006. Net profit from the banking business increased by RMB1.5 billion for the full-year period of 2007.
Ma Mingzhe, chairman and CEO, said: Leveraging on the positive domestic and foreign market trends, Ping An continued to enhance its integrated financial services and global investment platform.