PICC Property and Casualty (02328) said its profit attributable to owners of the parent for the six months ended 30 June 2016 dropped 26.2% year-on-year to Rmb10,648 million.
Basic earnings per share were Rmb71.8 cents.
In the first half of 2016, the gross written premiums of the group reached Rmb161,893 million, representing an increase of 10.7% compared to the same period of last year. The company's market share in the PRC property and casualty insurance market is 34.9%, representing an increase of 0.7 and 1.5 percentage points compared to the interim and the end of 2015 respectively, reversing the declining trend of its market share since its listing.
Underwriting profit was Rmb6,446 million, representing an increase of 4.1% compared to the same period of last year.
No interim dividend will be distributed.
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