China Ping An Insurance Company, one of the nation's leading life and property insurers, raked in 3.96 billion yuan (514.3 million U.S. dollars) in net profits in the first quarter, as against its net profits of 5.99 billion yuan (777.9 million U.S. dollars) for entire 2006.

Company sources said on Friday that earnings per share stood at 0.59 yuan, and its returns against net assets at 4.4 percent.

Gross assets of the Shanghai and Hong Kong-listed company amounted to 528.3 billion yuan (68.6 billion U.S. dollars) at the end of March, up 14 percent from the end of 2006, and its shareholders' equities at 87.9 billion yuan (11.4 billion U.S. dollars), up 94.2 percent. The company's assets per share reached 11.97 yuan, up 63.7 percent.

China Ping An realized 5.99 billion yuan (777.9 million U.S. dollars) in net profits last year, up 79.3 percent year-on-year. It took in 68.99 billion yuan (8.96 billion U.S. dollars) in life insurance premiums, up 17.2 percent, and 16.86 billion yuan (2.19 billion U.S. dollars) in property insurance premiums, up 32.1 percent.