By Saurabh Chaturvedi
PICC Property & Casualty Co. (2328.HK) said Friday its net profit for 2017 rose 9.9% from the previous year, boosted by higher premiums earned.
In a stock-exchange filing, the Chinese insurer said net profit for the year rose to 19.81 billion yuan ($3.13 billion) from CNY18.02 billion a year earlier.
The result was lower than the CNY22.50 billion estimate of 17 analysts polled by S&P Global Market Intelligence.
Its net earned premiums for the year stood at CNY309.08 billion, up from CNY270.26 billion a year ago.
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