Core Viewpoint - China Reinsurance (Group) Corporation aims to build a world-class comprehensive reinsurance group, focusing on steady progress and value enhancement while maintaining a high-quality development approach [1][3]. Group Performance - For the first half of 2025, the group reported a total premium income of 103.835 billion yuan, a year-on-year increase of 3.4%, and a net profit attributable to shareholders of 6.224 billion yuan, up 9.0% [1]. - The annualized return on equity (ROE) stood at 11.75%, with total investment income of 9.584 billion yuan and net investment income of 7.321 billion yuan, reflecting a 4.9% increase [1]. Risk Management - The group maintained strong solvency ratios, with China Re Property Insurance at 226%, China Re Life Insurance at 208%, and Dadi Insurance at 286%, while the consolidated ratio was 194% [1]. Property Reinsurance Segment - The domestic property reinsurance segment reported a premium income of 21.430 billion yuan, a 1.1% increase, while the overseas segment saw a 7.4% increase in premium income to 47.343 billion yuan [2]. - The combined ratio for domestic non-auto insurance was 73.0%, reflecting a 1.7 percentage point increase year-on-year [2]. Life Reinsurance Segment - The life reinsurance segment generated a premium income of 36.128 billion yuan, with a net profit of 2.853 billion yuan, marking a 13.6% increase [2]. - The focus on health insurance and innovative product development contributed to effective growth in profitable segments [2]. Investment Strategy - The group’s total investment assets reached 448.877 billion yuan, with total investment income remaining stable at 9.584 billion yuan [3]. - The company plans to continue its strategy of steady progress and value enhancement, aiming for high-quality development and digital transformation [3].