News: China Pacific Insurance Group Co Ltd (601601.SS)
Tue, Apr 14 2015
* Says Q1 premium income at 62.25 billion yuan ($10.02 billion)
* Says 2014 net profit up 19.3 percent y/y at 11.05 billion yuan ($1.78 billion)
HONG KONG - Allianz SE struck a deal with Goldman Sachs to help the German company hedge part of its stake in China Pacific Insurance Group (CPIC) and lock in profits from two rounds of investments that Allianz made in China's third-largest insurer.
* CPIC shares close 2.9 pct down following Goldman transaction (Adds statement from Allianz in 3rd paragraph)
HONG KONG, March 19 - German insurer Allianz has struck a $700 million deal with Goldman Sachs to protect most of its stake in China Pacific Insurance Group Co Ltd (CPIC), according to a term sheet of the deal seen by Reuters.
* Says February premium income at 41.6 billion yuan ($6.64 billion)
* Says January premium income at 26.8 billion yuan ($4.29 billion)
* Says shareholder Shanghai State-owned Assets Operation Co plans to issue up to 3.5 billion yuan ($562.79 million) bonds which can be exchanged for company's shares
* Says posts 2014 premium income at 191.53 billion yuan ($30.91 billion)
* Says life insurance unit's premium income at 94.3 billion yuan ($15.25 billion), property insurance unit's premium income at 84.5 billion yuan in Jan-Nov