Sunshine Insurance H1 2024 net profit rises 8.3% YoY

EPS stood at $0.04.

Sunshine Insurance Group’s first six months of the year (H1 2024) pencilled a net profit of RMB3.21b ($0.45b), up 8.3% on a year-on-year (YoY) basis. 

Similarly, profit attributable to equity owners of the parent increased 8.6% YoY to RMB3.14b ($0.44b). 

Revenue from insurance sales also climbed 4.4% YoY to RMB31.49b ($4.40b). For H1 2024, earnings per share attributable to ordinary equity holders of the parent stood at RMB0.27 ($0.04), up 8.0% YoY. 

Gross written premiums (GWP) for the six months to June saw RMB76.46b ($10.71b), up 12.8% YoY. 

Sunshine Insurance anticipates continued economic recovery in China and plans to focus on its “New Sunshine Strategy” with an emphasis on technological, green, inclusive, elderly care, and digital finance.

($1.00 = RMB7.11)