Ping An 2016 P&C profit slips as expense ratio rises

Ping An's P&C net profit edged down 1.7 percent to
12.32bn yuan ($1.79bn) in 2016 as underwriting results
softened.
The combined ratio at the P&C division deteriorated by 0.3
percentage points to 95.9 percent, driven by a 1.6 point increase
in the expense ratio to 41.5 percent.
The loss ratio recorded an improvement however, falling 2.3
points to 54.4 percent.
Net P&C investment income increased by 29.2 percent to
12.5bn yuan, aided by growth in fixed-income investments and equity
in