China Taiping’s net profit leaps 19.4% YoY in H1 2024

EPS stood at HK$1.54.

China Taiping Insurance’s first half (H1 2024) net profit surged 19.4% year-on-year (YoY) to $1.17b (HK$9.0b), thanks to growth in revenue and insurance service results.

The company’s earnings per share stood at $0.20 (HK$1.54), higher than the $0.18 (HK$1.37) last year.

The insurer’s revenue also bagged a 3.2% YoY growth, totalling $7.27b (HK$55.9b). Similarly, its insurance service expenses dipped 3.4% YoY to $5.62b (HK$43.2b).

Profit attributable to owners also witnessed a 15.4% YoY jump to $0.78b (HK$6.03b).

($1.00 = HK$7.80)