CPIC admits 'grave' property and casualty underwriting issues
Shanghai-based giant China Pacific Insurance's profits climbed 19.3% last year to 11bn yuan (£1.19bn) despite "grave" problems in its property and casualty arm.
The combined ratio in its property casualty business, which had gross premium revenue of 93.1bn yuan (up 13.8% on 2013), was 103.8% up 4.8 points over 2013 - CPIC's first loss in six years.
Motor
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