Ping An’s net profit up 49%

Chinese insurer Ping An Insurance (Group) Co. of China Ltd.'s net profit increased 49% year-on-year to RMB38.4 billion ($5.55 billion) in the first quarter of the year, as its investment income improved, Reuters reported. The insurer’s gross written premiums grew 2.1% year-on-year to RMB133.1 billion.