China Pacific Insurance (Group) Co. Ltd. posted a 96.1% year-over-year jump in net profit for the first half.
Net profit attributable to equity holders of the parent totaled 16.18 billion yuan, up from 8.25 billion yuan in the year-ago period. EPS rose to 1.79 yuan in the six-month period from 91 fen.
Gross written premiums climbed to 207.81 billion yuan from 192.63 billion yuan, while net premiums earned rose to 185.49 billion yuan from 177.11 billion yuan year over year.
Investment income reached 31.95 billion yuan, up from 25.63 billion yuan in the prior-year half.
As of the end of June, China Pacific's core and comprehensive solvency margin ratio was 290% and 296%, respectively, down from 292% and 301% at the end of 2018.
As of Aug. 26, US$1 was equivalent to 7.15 Chinese yuan.
