PICC P&C expects a year-on-year increase of approximately 80% to 100% in net profit for the first quarter
PICC P&C expects its net profit in the first quarter of 2025 to increase by approximately 80% to 100% year-on-year. The company is actively seizing the opportunities presented by the economic recovery, steadily developing its business, enhancing its insurance service capabilities, optimizing expense inputs, and improving its business structure. Benefiting from the recovery of the capital market, investment income has significantly increased year-on-year. The company is optimistic about the prospects of the Chinese economy and capital market, and is committed to maintaining market stability and supporting the development of the real economy
According to the Zhitong Finance APP, PICC P&C (02328) announced that it expects the company's net profit in the first quarter of 2025 to increase by approximately 80% to 100% compared to the same period in 2024.
In the first quarter of 2025, the company actively seizes the opportunity of China's economic recovery and improvement, insists on strengthening and optimizing its operations, and achieves steady progress in business development with robust operational quality and efficiency. The company closely focuses on the key areas and main points of the financial "five major articles," enhancing its insurance service capabilities and the support intensity of financial institutions. Under the strategic goal of building a world-class insurance financial group led by the People's Insurance Group, the company resolutely implements the overall requirements of "five first-class" standards, continuously deepens reforms, optimizes expense inputs, improves business structure, and promotes risk reduction services. Additionally, with a year-on-year decrease in major disaster losses, the underwriting profit has seen a significant year-on-year increase. At the same time, while maintaining a safe liquidity margin, the company moderately increases its allocation of high-quality equity assets with long-term value. Benefiting from the overall recovery of the capital market in the first quarter, the optimization of the company's allocation structure has amplified the positive effects of the market rise, resulting in a significant year-on-year increase in total investment income. The company firmly believes in the development prospects of the Chinese economy and the Chinese capital market, contributing "People's Insurance strength" to maintain capital market stability and serve the high-quality development of the real economy
