PICC Property & Casualty Co., the largest non-life insurer in China, is targeting to make a profit from their underwriting operations this year, after premium rates rebounded and improvements to the claims management of the company have been completed.

WellPoint Inc., a health benefits provider in the US, is looking for a joint venture (JV) partner in China to set up a health insurance company by 2011. The president and CEO of the company has recently visited China to meet potential partners and the Chinese regulator in charge of this industry.