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Ping An Insurance net profit grows 68%+ YOY in H1

Ping An Insurance (Group) Co. of China Ltd.'s first-half consolidated net profit attributable to shareholders of the parent company was up by 68.1% year over year to 97.68 billion Chinese yuan.

The group's operating return on embedded value, not annualized, was 11.2%.

The life and health insurance businesses' operating profit, after tax, increased by 36.1% to 48.43 billion yuan. The operating return on embedded value of the business was 14.2%, while its new business value rose 4.7% to 41.05 billion yuan.

Premium income at Ping An Property & Casualty was 130.47 billion yuan, up 9.7% from the first half of 2018. The combined ratio of the business was 96.6%, its operating profit grew 69.5% year over year to 10.04 billion yuan.

As of Aug. 14, US$1 was equivalent to 7.02 Chinese yuan.