China Reinsurance (Group) (1508) Q3 2024 earnings summary

Executive summary

• Unaudited financial data for the nine months ended 30 September 2024 were disclosed, prepared under PRC Accounting Standards for Business Enterprises.

• Disclosure is in line with regulatory requirements following the issuance of RMB5.0 billion capital supplementary bonds.

Financial highlights

• Total assets reached RMB285.38 billion as of 30 September 2024.

• Net profit for the period was RMB979.94 million.

• Gross written premium amounted to RMB56.16 billion for the nine-month period.

• Investment income totaled RMB4.15 billion.

• Total liabilities stood at RMB262.71 billion, with owners' equity at RMB22.67 billion.

Segment performance

• Premiums earned were RMB43.72 billion, with reinsurance premium income at RMB39.17 billion.

• Claims paid reached RMB18.39 billion, with claims recoverable from reinsurers at RMB11.82 billion.

• Change in insurance contract reserves was RMB34.22 billion, offset by RMB5.97 billion recoverable from reinsurers.