August 15, 2019 / 9:17 AM / 6 days ago

Ping An Insurance H1 profit up 68% on retail strength

SHANGHAI, Aug 15 (Reuters) - Ping An Insurance (Group) Co of China , the country’s largest insurer by market value, posted a 68.1% rise in first-half net profit on strong retail results, marking the fastest pace of growth in at least 9 years.

Ping An, the only Asian insurer deemed globally systemically important by regulators, said on Thursday its net profit was 97.68 billion yuan ($13.90 billion) for the six months to June, a filing with the Hong Kong stock exchange shows.

That marks the fastest half-year profit growth since at least 2010 for Ping An, according to Reuters calculations.

$1 = 7.0291 Chinese yuan Reporting by Engen Tham in SHANGHAI and Cheng Leng in BEIJING; Editing by Himani Sarkar

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