Ping an Insurance: 1st Half Net Profit Rises 6.5% to CNY43.43 Billion

By Chester Yung Features Dow Jones Newswires

Ping An Insurance (Group) Co. of China Ltd. (2318.HK) said Thursday its first-half net profit rose 6.5% from a year earlier, thanks in part to strong premium growth and investment income.

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China's second-largest life insurer by premiums said net profit for the first six months of the year rose to 43.43 billion yuan (US$6.51 billion) from CNY40.78 billion a year earlier. Its first-half net earned premiums rose 32% to CNY321.17 billion, while investment income rose to CNY63.74 billion from CNY55.57 billion.

The insurer declared an interim dividend of CNY0.50 per share.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 17, 2017 05:15 ET (09:15 GMT)