People’s Insurance Co (Group) of China (HK:1339) has released an update.
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People’s Insurance Co (Group) of China has reported significant growth in original premiums income for the first nine months of 2024, with figures reaching RMB428,330 million for PICC P&C, RMB96,623 million for PICC Life, and RMB43,963 million for PICC Health. Notably, PICC P&C experienced a 4.6% overall increase, driven by gains in multiple insurance sectors, while PICC Life and PICC Health saw increases of 5.9% and 10.5% respectively, despite some categories such as single premiums facing declines. The company advises investors that the disclosed financials are preliminary and have not undergone audit procedures or review by the Audit Committee.
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