China Re issues profit warning

China Reinsurance Corporation has said that its 2016 net profit attributable to the equity shareholders may decrease by 30 percent to 35 percent compared to 2015.

In 2015, China Re’s net profit attributable to the equity shareholders of the company was RMB 7.58 billion ($1.10 billion).

The decrease in results in 2016 will be mainly due to a year-on-year decrease in investment income, the company said in a statement filed at the Hong Kong stock exchange. The announcement is based on preliminary estimates.

Details of the audited financial information of the company for the year 2016 will be disclosed in the 2016 annual results announcement and the 2016 annual report of the company.

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