The People's Insurance Co (Group) of China Ltd Class H

01339: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$8.60	Zbjlv	Ggnsvvwv

PICC Group’s Q2 Posted Higher Net Profit Growth on Improving P&C Insurance Margins

Iris Tan

Aug 30, 2022

PICC Group posted a solid second-quarter result with total revenue growing 7.4% to CNY 336.9 billion and net profits increasing 5.7% to CNY 17.9 billion year on year. Second-quarter net profit growth improved strongly to 32% year on year, versus an 11% decline in the first quarter. The accelerated growth was a result of a 160% increase in second-quarter P&C underwriting profits on reduced traffic and related claims during COVID-19 lockdowns, and a low base in the second quarter of 2021.

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