Ping An’s P&C unit’s insurance revenue grow 6%

Chinese insurer Ping An Insurance (Group) Co. of China Ltd.’s property and casualty unit saw insurance revenue growth of nearly 6% year-on-year to 80.6 billion Chinese yuan ($11 billion) in the first quarter of this year, Reinsurance News reported. The underwriting combined ratio stood at 99.6%, up year-on-year mainly due to snowstorms early in the Chinese New Year period and increased customer travel.