Performance | PICC Group's profit increased by 9.6% last year

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People’s Insurance Company of China (01339) announced that its annual profit for the year ending December 31 last year was RMB 46.207 billion, an increase of 9.62% year-on-year. Earnings per share were RMB 1.04, with a final dividend of RMB 0.145 per share.

During the period, total operating revenue was RMB 6,692.54 billion, up 7.56% year-on-year. Insurance service income was RMB 5,707.17 billion, an increase of 6.1%; original insurance premium income was RMB 7,383.33 billion, rising 6.5%.

In property insurance, underwriting profit was RMB 12.535 billion, a year-on-year increase of 119.4%. In life insurance, PIC Life’s original insurance premium income increased by 18.8%, first-year premium payments rose by 32.4%, renewal premiums grew by 16.1%; new business value under comparable standards increased by 64.5%. In investment business, total investment income was RMB 92.987 billion, up 13.2% year-on-year, with a total investment yield of 5.6%, remaining relatively stable.

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