Core Viewpoint - Sunshine Insurance has reported a relatively stable half-year performance, with growth in total premium income and net profit, indicating resilience in its operations amid market challenges [1][2]. Financial Performance - Total premium income for the first half reached 80.81 billion yuan, a year-on-year increase of 5.7% [2]. - Insurance service income was 32.44 billion yuan, up 3.0% year-on-year [2]. - Net profit attributable to shareholders was 3.39 billion yuan, reflecting a 7.8% increase compared to the previous year [2]. - The group's embedded value at the end of the period was 128.49 billion yuan, an 11.0% increase from the end of the previous year [2]. - Total assets surpassed 600 billion yuan for the first time, reaching 625.56 billion yuan [4]. Business Segments Life Insurance - Sunshine Life achieved total premium income of 55.44 billion yuan, a 7.1% increase year-on-year [3]. - New business value was 4.01 billion yuan, with a comparable year-on-year growth of 47.3% [3]. - The embedded value of Sunshine Life was 106.20 billion yuan, up 13.8% from the previous year [3]. - Individual insurance premium income grew by 12.1% to 15.34 billion yuan, with new single premium income at 3.44 billion yuan [3]. Property and Casualty Insurance - Sunshine Property and Casualty reported original insurance premium income of 25.27 billion yuan, a 2.5% increase year-on-year [4]. - Non-auto insurance premiums accounted for 50.6% of total premiums, an increase of 4.5 percentage points [4]. - The combined ratio was 98.8%, showing a 0.3 percentage point improvement year-on-year [4]. Investment Performance - Total investment assets reached 591.86 billion yuan, with total investment income of 10.7 billion yuan, a year-on-year increase of 28.5% [5]. - Investment income was 6.35 billion yuan, reflecting a 42.3% increase, driven by higher dividend income and trading gains [6]. - The annualized net investment return rate was 3.8%, down 0.2 percentage points year-on-year, while the annualized total investment return rate was 4.0%, up 0.2 percentage points [6]. Asset Allocation - As of June 30, equity investments amounted to 129.45 billion yuan, representing 21.8% of the investment portfolio [8]. - The company emphasizes investments in high-dividend value stocks and sustainable growth stocks, with nearly 90 billion yuan allocated to stocks and equity funds [8]. - Sunshine Insurance has been strategically investing in high-dividend value stocks since 2021 and plans to expand into sustainable income-generating assets starting in 2024 [8].
大增28.5%！6000亿上市险企，上半年总投资收益107亿