China Reinsurance (Group) Corporation (China Re) has released its unaudited results for the first half of 2026, reporting net income of RMB 2,313 million from its property and casualty subsidiary, reflecting a slight 1.1% decrease from RMB 2,338 million in the same period last year.
China Property and Casualty Reinsurance Company Ltd. (China Re P&C) – offers a wide variety of reinsurance products for various property and casualty insurance, such as motor, property, agricultural and liability insurance, and also includes the business operated by Chaucer.
China Re P&C recorded total income of RMB 25,569 million in H1 2026, compared to RMB 26.199 million in H1 2025, while insurance revenue remained virtually flat at RMB 22,952 million.
Domestic P&C reinsurance premium amounted to RMB 21,737 million, representing a year-on-year increase of 1.4%. Allocation of reinsurance premiums was a loss of RMB 3,385 million, compared to RMB 3,167 million in H1 2025.
In the first half of 2026, China Re also reported total premium income from the overseas P&C reinsurance and Chaucer business of RMB 18,064 million, representing a year-on-year increase of 3%.
Despite insurance revenue declining 4.8% to RMB 12,208 million, the segment’s insurance service result surged 31.7% to RMB1,752 million.
The combined ratio was 81.87%, representing a year-on-year improvement of 5.08 percentage points. Losses attributable to natural catastrophes were relatively moderate, and underwriting profit remained at a relatively good level.
China Life Reinsurance Company Ltd. (China Re Life) also reported strong results, with net profit reaching RMB 3,711 million, from RMB 2,852 million reported in H1 2025.
Total income increased to RMB 12,565 million from RMB 9,600 million alongside an increase in insurance revenue to RMB 6,310 million, compared to RMB 4,737 million in H1 2025.
Reinsurance premium allocation went from a loss of RMB 862,930 million in H1 2025 to a loss of RMB 1,183 million in H1 2026.
On a group consolidated basis, net profit in H1 2026 amounted to RMB 7,1596 million, an increase of 15.1% compared to RMB 6,599 million a year earlier. Operating income stood at RMB 63,401 million, compared to RMB 61,028 million in H1 2025.
