Ping An's profit climbed 15% last year

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Profit attributable to shareholders was 62.4bn yuan (£7.25bn) up from 54.2bn yuan in 2015; revenue climbed to 774.5bn yuan. The insurer's P&C premiums grew 8.7% to 178bn yuan buoyed by motor insurance premiums which surged 13.4% to 148bn yuan; the overall P&C combined operating ratio was 95.9%. Overall the company, which has a significant life insurance footprint - making up around half of its profit, has 131 million customers with 2.21 contracts per customer. Earlier this year Ping