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Back|Insurer Reports Surge in Revenue and Net Profit in Interim Results
Insurer Reports Surge in Revenue and Net Profit in Interim Results
NEWS
SCMP Tech·4 hours ago·Business·1 min read·🇨🇳China

Insurer Reports Surge in Revenue and Net Profit in Interim Results

World's largest life insurer by market value attributes growth to business development and robust investment returns.

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The Shanghai- and Hong Kong-listed insurer recorded a revenue of 434.3 billion yuan, up 81.5 per cent, and a net profit surge of over 228 per cent to 134.5 billion yuan in its interim results.

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The insurer released its interim financial results detailing significant growth in revenue and net profit.

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The Shanghai- and Hong Kong-listed insurer recorded revenue of 434.3 billion yuan (US$64.6 billion), up 81.5 per cent year on year, according to interim results released on Thursday.

Net profit surged more than 228 per cent to 134.5 billion yuan.

The company, the world’s largest life insurer by market value, attributed profit growth to business development with risk control, progress in product and business diversification, refined asset allocation and robust investment returns.

“Investment in areas related to new quality productive forces represents a key growth driver best positioned to deliver differentiated returns, and there lies broad potential for future investment and layout,” vice-president Liu Hui said at a press briefing in Beijing on Friday.

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  • ?What are the specific investments made in new quality productive forces?

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This article was originally published by SCMP Tech.

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The Shanghai- and Hong Kong-listed insurer recorded a revenue of 434.3 billion yuan, up 81.5 per cent, and a net profit surge of over 228 per cent to 134.5 billion yuan in its interim results.

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Published
4 hours ago
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4 hours ago

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