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Despite the Downward Trend in Earnings at People's Insurance Company (Group) of China (HKG:1339) the Stock Rallies 3.0%, Bringing Three-year Gains to 37%
People's Insurance Co Announces Interim Results
China Merchants Securities: Overall improvement in life insurance in July, and stability in property insurance growth.
In July, life insurance premiums of various companies continued to increase, while property insurance was slightly differentiated due to the base.
Adjustments are imminent! Many agency platforms are facing a wave of delisting for dozens of old products with a reserved interest rate of 3% on insurance products.
Ant Insurance, Huize and other insurance agency platforms have released reminders that nearly 30 insurance products with a 3% reservation rate will be taken off the shelves at the end of this month. Industry insiders have analyzed that after the reservation rate is lowered, the yield of savings-type products will decrease by approximately 14%, while premiums for guarantee-type insurance such as critical illness insurance are expected to increase by 20%.
People's Insurance Co. Schedules Key Board Meeting
PICC Group (01339.HK) plans to hold a board of directors meeting on August 28 to approve its interim performance.
PICC Group (01339.HK) announced on August 16th that a board of directors meeting will be held on Wednesday, August 28th, 2024, to review and approve the mid-term performance of the company and its subsidiaries for the six months ending June 30th, 2024, and to consider payment of interim dividends (if any), as well as to deal with any other matters.
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