China Pacific Insurance (Group) (HKG:2601, SHA:601601) expects a net profit attributable to shareholders of the parent between 42.2 billion yuan and 46.3 billion yuan in 2024, 55% to 70% higher than 27.3 billion yuan logged a year ago, a Wednesday Hong Kong bourse filing said.

The insurance company attributed the expected increase in profit to a significant gain in its investment income resulting from favorable national policies and positive fluctuations in the capital market, and an rise in its net profit during the reporting period.