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Earnings roundup: China Pacific, Vienna Insurance earnings up YOY in H1

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Earnings roundup: China Pacific, Vienna Insurance earnings up YOY in H1

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the insurance space.

Multiline

China Pacific Insurance (Group) Co. Ltd. booked a 96.1% year-over-year jump in net profit for the first half.

Net profit attributable to equity holders of the parent came in at 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.

As of Aug. 26, US$1 was equivalent to 7.15 Chinese yuan.

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Vienna Insurance Group AG posted first-half net result after noncontrolling interests of €151.0 million, an increase from €136.6 million a year earlier.

Annualized EPS for the first half rose year over year to €2.36 from €2.04.

For the second quarter, net result after noncontrolling interests came in at €67.5 million, versus €61.1 million in the second quarter of 2018.

Property and casualty

People's Insurance Co. (Group) of China Ltd. reported net profit attributable to owners for the six months ended June 30 of 15.48 billion yuan, up 54.1% from 10.05 billion yuan in the prior-year period. Basic EPS rose to 35 fen from 24 fen.