Improvement in underwriting performance attributed to a lower expense ratio and operational scale expansion, though the agency noted earnings remain reliant on investment returns to offset losses
The reinsurer also reported US$89.7m in net profit after tax, according to parent Fosun International's unaudited half-year results, as it continued expanding its footprint across India, Europe and North...
Mainland China earnings came under pressure from bancassurance reforms and a greater reliance on participating products, but growth elsewhere lifted group profitability.
Stronger underwriting across motor, fire and casualty insurance helped offset higher catastrophe losses, while overseas investment income supported earnings growth.
Higher investment income and robust life insurance results propelled shareholder profit despite mixed performance across the group's non-life businesses.
