PICC Property & Casualty Co Class H ( (PPCCF) ) has released its Q4 earnings. Here is a breakdown of the information PICC Property & Casualty Co Class H presented to its investors.
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PICC Property & Casualty Co Class H, the largest property and casualty insurance company in China, provides a wide range of insurance services, including motor vehicle, commercial property, and liability insurance. In its latest earnings report for the year ended December 31, 2024, the company highlighted a robust financial performance with a net profit increase of 30.9% year-on-year, reaching RMB 32,161 million. The company reported an original insurance premium income of RMB 538,055 million, a 4.3% increase from the previous year, and maintained a leading market share of 31.8% in the industry. Despite a decrease in underwriting profit by 43.9% to RMB 5,713 million, the company’s total investment income surged by 270.8% to RMB 34,937 million, contributing to a return on equity of 13.0%. Looking ahead, PICC Property & Casualty Co remains committed to enhancing its service offerings and expanding its market presence, while focusing on technology, green finance, and inclusive finance to support national strategies and economic development.