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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.
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