CHINA RE (01508) announced its financial results for the six months ended June 30, 2025. The group recorded total revenue of RMB 61.028 billion during the period, representing a year-on-year increase of 0.56%. Net profit attributable to shareholders reached RMB 6.244 billion, up 9.03% compared to the same period last year. Basic earnings per share stood at RMB 0.15.
In the first half of 2025, the group focused on consolidating its leading position in the domestic reinsurance market while continuing to advance the development of domestic commercial insurance business and national policy-oriented business platforms. The company strengthened innovation-driven initiatives and technology applications, increased innovation momentum, enhanced the transformation of innovation outcomes, and maintained risk reduction services to create new value through leveraging professional advantages.
The group continued to upgrade its customer service system, strengthened underwriting team capabilities, and enhanced technical expertise. It actively expanded emerging businesses including construction engineering quality latent defect insurance (IDI), short-term health insurance, catastrophe insurance, agricultural index and agriculture-related insurance, and cyber security insurance, resulting in continued optimization of business structure.
For the first half of 2025, the property reinsurance segment generated insurance service revenue of RMB 22.959 billion, down 2.2% year-on-year, accounting for 44.3% of the group's total insurance service revenue (excluding inter-segment eliminations). The decline in property reinsurance segment insurance service revenue was primarily attributed to the decreased scale of earned premiums from domestic agricultural insurance business.
Net profit for the property reinsurance segment was RMB 2.338 billion, down 9.3% year-on-year. The decline in net profit was mainly due to two factors: first, underwriting performance was affected by domestic business structure adjustments and international catastrophe events; second, investment performance was impacted by interest rate fluctuations, with fair value gains on trading bonds being weaker than the same period last year.