China Taiping Insurance (00966) said its profit attributable to owners for the six months ended 30 June 2016 dropped 47.1% year-on-year to HK$3,099 million.
Basic and diluted earnings per share were HK82.7 cents.
Total premiums written and policy fees amounted to HK$93,929.63 million, an increase of 10% from a year earlier. Group embedded value grew 2% year-on-year to HK$119,948.63 million.
Life insurance's new business value was HK$5,236 million, up 61.3% year-on-year.
No interim dividend will be distributed.
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