China Re P&C to issue RMB4.0 bn in bonds after strong half-year performance

China Reinsurance (Group) Corporation announced that its subsidiary, China Property and Casualty Reinsurance Company Ltd. (China Re P&C), has received regulatory approvals to publicly issue 10-year redeemable capital supplementary bonds not exceeding RMB4.0 billion in the National Interbank Bond Market. This issuance is intended to further enhance China Re P&C’s solvency and support business development.

This announcement follows the release of the Group's 2025 Interim Report, which highlighted a net profit increase of 11.4% to RMB6,599 million for the six months ended June 30, 2025. China Re P&C specifically reported a net profit of RMB2,338 million, despite a 2.2% decrease in insurance revenue to RMB22,959 million, mainly due to a decline in domestic agriculture insurance business. Its core solvency adequacy ratio remained stable at 148%, and the aggregated solvency adequacy ratio increased by 3 percentage points to 226% as of June 30, 2025.

The Group's total assets grew by 1.6% to RMB516,446 million, and total equity rose by 3.7% to RMB116,781 million. The issuance of these bonds aligns with the Group's strategy to strengthen its capital structure and maintain a sound solvency margin.