China Re issues profit warning

China Reinsurance Group (China Re) issued a profit warning for the first half of 2016 due to a drop in investment income.

China Re expects that the attributable net profit for the first half of 2016 will be 60 percent lower than in the same period of 2015.

In the first half of 2015, the company reported a net profit attributable to the equity shareholders of Rmb6.58 billion ($989.7 million, as of August 1, 2016).