At least two insurers have reported an increase in their profits last year. The People's Insurance Company (Group) of China expected its net profit to rise by up to 15% to CNY24.88bn (USD3.6bn) last year from a year earlier. The firm also added that the net profit in 2022 will grow at least 10% to CNY23.8bn. After the deduction of non-recurring profit and loss, it said the net profit will come in at CNY23.6bn to CNY24.7bn, also an increase of 10-15% from the previous year. The PICC Property and Casualty Company also forecasted its net profit for 2022 to increase by 10-20% from a year ago. It recorded a net profit of CNY22.4bn in 2021.
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