China Reinsurance (Group) Corp has recorded a 27.8% jump in GWP to CNY84.6bn ($11.8bn) and a 42.4% surge in net profit attributable to shareholders to CNY3.3bn, in the January-to-June period compared to the corresponding half of last year. These results are reflected in the company's interim financial statements.
The growth was mainly attributable to the rapid development of protection-type life and health reinsurance and financial reinsurance as well as the inclusion of premium income from Chaucer.
Last December, China Re completed the acquisition of a 100% stake in London headquartered international specialty insurance and reinsurance group Chaucer.
In the first half of this year, China Re's investment income amounted to CNY6.1bn, increasing by 21.5% year on year.