Shanghai-based Pacific Antai Life Insurance Co, a 50-50 joint venture between ING Group and the China Pacific Insurance (Group) Co, said its first half premium income totaled 340 mln yuan, up 16.5 pct year-on-year.

Net profit totaled 25.8 mln yuan for the period, the venture said in a statement published with China Pacific's newsletter.

Pacific Antai Life had premium income of 629 mln yuan in 2006.

ING Group has another 50-50 insurance joint venture in China, with the Beijing Capital Group. The venture, ING Capital Life Insurance Co, posted premiums of 411 mln yuan last year.