Chinese insurer Ping An has achieved a net profit rise of 27.9% in the first half of the year to reach 9.87 billion yuan ($1.65 billion).

Steady growth in insurance and banking was behind the boost, Ping An said in a statement to the Shanghai Stock Exchange.

Gross written premium was 93.1 million yuan ($15.4 million) and accounted for about 15.8% of China’s total written premiums for the first six months of the year.

CEO Ma Mingzhe says robust growth in the Chinese economy is expected in the second half of the year, but the uncertainty of the international market is expected to create difficulties for Ping An.