Asia Financial Holdings (HKG:0662) expects a 70% higher net profit attributable to shareholders in 2024 compared with HK$346.8 million from 2023, a Thursday Hong Kong bourse filing said.

The company attributed the expected increase to an uptick in the realized and unrealized profits from the group's investment portfolio, resulting from diversification of overseas reinsurance activities, a year-on-year rise in insurance revenue, and an upturn in the Global equity markets.

Shares of the company were up over 5% in recent trade.

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