China Continent Property & Casualty Insurance Co, a unit of China Reinsurance Group (China Re), said its 2007 premium income is expected to reach 10 bln yuan.

In a statement on its website, the company said it had earned premiums of 9 bln yuan as of Nov 16, making it the fifth largest property insurer in China.

China Re has reportedly promised to inject at least 300 mln usd into China Continent, the only insurance unit within the group.

Early this year, Central Huijin, a wholly-owned subsidiary of China Investment Corp, approved a capital injection of 4 bln usd into China Re, which is seeking a dual listing in Hong Kong and Shanghai. The new capital is expected to be split among China Re's six units.

China Continent's shareholders also include five overseas investors from Hong Kong, Thailand and Indonesia, including Sun Hung Kai Properties Ltd.