Core Insights - China Reinsurance (01508.HK) reported a total premium income of RMB 103.835 billion for the first half of 2025, representing a year-on-year growth of 3.4% [1] - The company achieved a net profit of RMB 6.599 billion, an increase of 11.4% year-on-year, indicating stable growth [1] - The net profit attributable to shareholders was RMB 6.244 billion, up 9.0% year-on-year, reflecting robust performance [1] Group Performance - In the first half of 2025, the property reinsurance segment generated insurance service income of RMB 22.959 billion, accounting for 44.3% of the group's total insurance service income, with a net profit of RMB 2.338 billion [1] - The life reinsurance segment reported insurance service income of RMB 4.738 billion, making up 9.1% of the total, and a net profit of RMB 2.853 billion, which is a 13.6% increase year-on-year [1] - The direct property insurance segment earned insurance service income of RMB 24.117 billion, a growth of 4.1%, and a net profit of RMB 1.008 billion, reflecting an 80.0% increase year-on-year due to improved cost management and claims efficiency [1] Investment Performance - The total investment income for the group was RMB 9.584 billion, a decrease of 0.7% year-on-year, primarily due to stable domestic bond prices compared to significant increases in the previous year [2] - The net investment income rose to RMB 7.321 billion, a year-on-year increase of 4.9%, attributed to the strategic allocation of high-dividend assets and fixed-income investments [2]