China Reinsurance Logs 87% Profit Growth in 2024; Shares Plunge 10%

MT Newswires Live

03-31

China Reinsurance (HKG:1508) reported an 87% jump in attributable profit for 2024 to 10.6 billion yuan from 5.65 billion yuan a year earlier, according to a filing with the Singapore Exchange on Friday.

Earnings per share rose to 0.25 yuan compared with 0.13 yuan in the comparable period.

Operating income was up 8% year over year to 118.1 billion yuan from 109.4 billion yuan due to higher insurance revenue.

The board recommended a final dividend of 0.050 yuan per share for the year ended Dec. 31, 2024.

Shares of the reinsurance company plunged over 10% in recent trading.

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