China Re’s H1 2024 net earnings triples to $830m

EPS stood at RMB0.13.

China Reinsurance saw its January to June (H1 2024) net profit nearly triple (186.5% year-on-year (YoY)) the previous year’s results, totalling $0.83b (RMB5.9b).

Similarly, profit attributable to equity shareholders of the parent surged 184.7% YoY to $0.80b (RMB5.7b).

The company’s earnings per share stood at $0.018 (RMB0.13), significantly larger than the $0.007 (RMB0.05) in H1 2023.

The company’s growth can be attributed to higher total income, which grew 11.3% YoY to $8.50b (RMB60.7b).

($1.00 = RMB7.11)