Ironshore made a net profit of $US148.3 million ($195.7 million) in the half-year to June 30, according to Chinese parent company Fosun International.

The insurer, which has operations in Australia, made $US1.15 billion ($1.52 billion) in gross premium income, and its net combined operating ratio stood at 96%.

Hong Kong-listed Fosun completed the $US2.52 billion ($3.33 billion) Ironshore acquisition in November last year, and has not provided comparative figures for the previous corresponding period.

Fosun has a significant insurance portfolio, including businesses in Portugal, China and the US.

Its overall insurance revenue grew 145.6% to 13.09 billion yuan ($2.59 billion), but profit fell 43.5% to 1.01 billion yuan ($199.46 million).

Fosun blames the profit drop on weak global economic growth and industry pressure.