PICC P&C Posts Higher Underwriting Profit but Softer Investment Returns in Q1 2026

PICC Property & Casualty Co ( (HK:2328) ) just unveiled an announcement.

PICC Property & Casualty Co reported unaudited first-quarter 2026 standalone results showing insurance revenue of RMB123.0 billion and net profit of RMB8.63 billion, reflecting steady expansion under China’s 15th Five-Year Plan. The company’s insurance business grew modestly, with overall insurance revenue up 1.9% year on year, driven by 2.3% growth in motor lines and 1.2% in non-motor, while underwriting profit rose 7.5% to RMB7.15 billion and the combined ratio improved to 94.2%.

Original insurance premium income increased 1.4% to RMB183.0 billion, supported by solid gains in accident and health and liability insurance that offset declines in agriculture and other lines. Investment performance weakened, as total investment income dropped to RMB4.6 billion and the unannualised investment yield fell to 0.7%, pressured by a softer secondary equity market and a high prior-year base, though the firm continues to emphasize long-term, stable investment and has disclosed its first-quarter 2026 solvency metrics on regulatory and company websites.

The most recent analyst rating on (HK:2328) stock is a Buy with a HK$20.50 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.

More about PICC Property & Casualty Co

PICC Property & Casualty Co is a major Chinese non-life insurer, focusing on motor, agricultural, health, liability and commercial property insurance. Operating under PICC Group’s strategy to build a world-class insurance and financial group, it positions itself as an economic shock absorber and social stabilizer in support of China’s development agenda.

Average Trading Volume: 33,893,123

Technical Sentiment Signal: Buy

Current Market Cap: HK$313.6B

For a thorough assessment of 2328 stock, go to TipRanks’ Stock Analysis page.