02328 PICC P&C
- 10.080
- -0.020-0.20%
PICC P&C News
PICC P&C Reports Growth in Premium Income
picc p&c (02328.HK) total insurance premium income from January to August amounted to 382.151 billion yuan, a year-on-year increase of 4.3%.
On September 13, Gelunhui reported that PICC P&C (02328.HK) announced that the total original insurance premium income from January 1, 2024 to August 31, 2024 was 382.151 billion yuan, a year-on-year increase of 4.3%.
Express News | PICC Property and Casualty - Original Insurance Premium Income Jan to August RMB 382,151 Mln
[Brokerage Focus] Tianfeng Securities maintains a "buy" rating on PICC P&C (02328), indicating its stable pricing and scale advantages.
Jinwu Finance News | Tianfeng Securities issued a research report, stating that PICC P&C's net income attributable to shareholders in the first half of 2024 decreased by 8.7% YoY to 18.491 billion yuan. The premium scale is stable and rising, with original premium income of 311.996 billion yuan in the first half of 2024, a YoY increase of 3.7%. The market share of premiums is 34%, and insurance service income is 235.841 billion yuan, a YoY increase of 5.1%, maintaining industry leadership. The bank mentioned that the company's underwriting profit is 8.999 billion yuan, a YoY decrease of 5%, mainly due to frequent natural disasters in the first half of the year and rising comprehensive cost ratios. In terms of investment, affected by the performance of the A-share market in the first half of the year
The third "国十条" of the insurance industry has activated the trillion-dollar retirement financial market. The direction of the development of the three-pillar retirement insurance has been determined!
① Vigorously develop commercial insurance annuities to meet the diversified retirement protection and long-term financial planning needs of the public; ② Encourage the development of new products and exclusive products that adapt to the individual pension system; ③ Support pension insurance companies in conducting commercial pension business and promote the development of exclusive commercial retirement insurance.
Shenwanhongyuan: Bullish on the improvement of insurance interest rate risk stage and the performance exceeding expectations has a positive catalytic effect on the valuation of the sector.
The performance of the insurance sector in the first half of the year exceeded expectations, bullish on the improvement of interest rate spread risk stage and the positive catalyst for the valuation of the insurance sector from some institutions that have exceeded expectations in the third quarter.
PICC P&C Confirms New Independent Director
PICC P&C Announces Chairman's Resignation
PICC Property & Casualty: Wang Tingke Resigned as Chairman of Board, Nonexecutive Director >2328.HK
PICC P&C (02328): Wang Tingke resigns from the positions of Non-Executive Director, Chairman of the Board of Directors, and Chairman of the Strategic Planning Committee.
picc p&c (02328) announced that the company has received the resignation letter from non-executive director and chairman Mr. Wang Tingke. Wang Tingke...
picc p&c (02328): Xue Shuang's qualification as an independent director has been approved.
picc p&c (02328) announced that the company recently received a notice from the China Banking and Insurance Regulatory Commission regarding Xue Shuang, a Chinese national...
PICC P&C: 2024 Interim Report
Hong Kong stocks closed (09.05) | Hang Seng Index fell 0.07%, insurance and real estate stocks rose, petroleum stocks fell again.
In the early morning of Hong Kong stock, it surged and then fell back, and then it continued to fluctuate weakly throughout the day. The Hang Seng Index and the China Enterprises Index both experienced four consecutive declines, while the Hang Seng Tech Index slightly gained.
Hong Kong stocks surged | The People's Insurance (01339) rose more than 3%, leading the mainland insurance companies. Citigroup said that the majority of insurance companies performed better than expected in the first half of the year.
Mainland insurance companies continued their recent upward trend. As of the time of writing, the People's Insurance (01339) rose 3.05%, to HKD 3.04; PICC P&C (02328) rose 2.93%, to HKD 10.54; China Pacific Insurance (02601) rose 2.23%, to HKD 20.65; Ping An Insurance (02318) rose 0.85%, to HKD 35.4.
Head insurance asset management profit remained stable with slight increase in the first half of the year, but the industry is generally concerned about increased pressure in the second half of the year. "Stocks and bonds both face challenges."
① According to multiple insiders in the insurance asset management industry, the investment performance of various institutions in the bond market improved in the first half of the year. However, the subsequent challenges of the stock and bond markets will test the investment capabilities of these institutions. ② Some industry experts pointed out that currently, it is difficult to invest in non-standard (products). The latest data shows that the business of innovative products in insurance asset management contracted in the first half of the year, and the issuance of non-standard bond rights is still in a downward trend.
Hong Kong stock market anomalies | Mainland insurance stocks rebound in early trading, Citigroup raises target price for mainland insurance stocks, the effects of the integration of banking and insurance policies gradually manifest.
Mainland insurance companies rebounded in early trading. As of the time of writing, PICC P&C (02328) rose 2.54% to HKD 10.50; AIA (01299) rose 1.11% to HKD 54.95; China Pacific Insurance (02601) rose 0.74% to HKD 20.35; China Life Insurance (02628) rose 0.35% to HKD 11.42.
Insurance stocks started off well. Za online (06060) rose by 2.41%. The State Council instructed to cultivate and strengthen patient capital such as insurance funds.
Jingwu Finance News | Insurance stocks are up at the beginning of trading. As of the time of writing, Zhongan Online (06060) is up 2.41%, Sunlight Insurance (06963) is up 2.26%, PICC P&C (02328) is up 1.95%, PICC Group (01339) is up 1.69%, and AIA (01299) is up 1.29%. In terms of news, at the executive meeting of the State Council held on August 30th, several opinions were discussed to promote the high-quality development of the insurance industry. The meeting pointed out that the insurance industry plays an important role in guaranteeing and improving people's livelihoods, disaster prevention and mitigation, and serving the real economy. It is necessary to strengthen the high quality of the insurance industry.
China Merchants Securities: High dividend stocks are expected to continue to be a key direction for increases in risky assets allocation.
China Merchants released research reports stating that the investment assets of listed insurance companies account for a large proportion of the industry, with a steady and healthy growth in scale in the first half of 2024, maintaining a balanced and stable allocation structure, and a significant improvement in the total investment yield.
[Brokerage Focus] Haitong International maintains a 'outperform the market' rating for PICC P&C (02328), pointing to the continuous optimization of the vehicle insurance business structure and far superior profitability space compared to small and medium-
Jingu Wealth News | Haitong Int'l released research reports stating PICC P&C (02328) announced its 2024 interim performance: 1) The net income attributable to the parent company in the first half of the year reached 18.49 billion yuan, a decrease of 8.7% year-on-year, with Q1 and Q2 decreasing by 38.3% and increasing by 17.4% respectively. 2) Underwriting profit was 9 billion yuan, a decrease of 5.0% year-on-year. 3) Net assets attributable to the parent company reached 242.8 billion yuan, up 4.9% from the beginning of the year. 4) ROE (unannualized) was 7.7%, a decrease of 1.3 percentage points year-on-year. The bank stated that 1) the original premium income in the first half of the year increased by 3.7% year-on-year, with the company's market share at 34.0%, an increase from the beginning of the year.
PICC P&C Releases 2024 Interim Financial Report
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