SUNSHINE INS Delivers 38.8% Surge in H1 Net Profit; Gross Written Premiums Rise 12.5%

Bulletin Express
Aug 28

Sunshine Insurance Group Company Limited (abbreviated as SUNSHINE INS) released its unaudited results for the six months ended 30 June 2026, highlighting solid progress under its “New Sunshine Strategy”.

Revenue and Profitability • Gross written premiums reached RMB 90.91 billion, a 12.5% increase year-on-year. • Insurance revenue held broadly stable at RMB 32.36 billion (-0.3%). • Net profit climbed to RMB 4.83 billion, up 38.8%, while profit attributable to shareholders rose 38.5% to RMB 4.69 billion. • Earnings per share advanced to RMB 0.41; weighted average ROE improved to 8.3% from 5.7%.

Segment Performance Life Insurance • Life GWPs grew 21.1% to RMB 67.16 billion. • First-year regular premiums expanded 22.0% to RMB 13.60 billion. • Value of new business rose 16.4% to RMB 4.66 billion; contractual service margin increased 6.7% to RMB 61.45 billion. • Individual-agent productivity averaged RMB 37,000 per active agent, a 31.3% uplift.

Property & Casualty Insurance • Original premium income declined 6.5% to RMB 23.62 billion due to the halt of new financing-type guarantee policies; excluding guarantee cover, premiums climbed 5.3% to RMB 24.01 billion. • Underwriting combined ratio improved slightly to 98.7% (-0.1 ppt); underwriting profit rose 8.3% to RMB 0.31 billion. • Segment net profit advanced 55.1% to RMB 0.80 billion.

Asset Management • Total investment assets reached RMB 667.76 billion, up 4.3% from year-end 2025. • Annualised total investment yield stood at 3.6%; annualised comprehensive investment yield was 2.3%. • Third-party assets under management at Sunshine Asset Management amounted to RMB 191.02 billion.

Balance Sheet and Capital Adequacy • Total assets expanded 4.4% to RMB 702.83 billion; shareholders’ equity declined 4.9% to RMB 55.34 billion, mainly reflecting fair-value movements. • Group comprehensive solvency ratio remained robust at 185%, well above the 100% regulatory minimum. • Embedded value reached RMB 129.43 billion, a 7.2% increase from year-end 2025.

Cash Flow and Dividend • Net operating cash inflow improved to RMB 38.44 billion. • No interim dividend was declared for the period.

Governance Updates • The Company completed elections for its seventh Board of Directors and Board of Supervisors and appointed new joint company secretaries in August 2026.

SUNSHINE INS stated that it will continue to focus on value-oriented growth, digital transformation and prudent asset-liability management to support high-quality development.

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