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The latest update is out from People’s Insurance Co (Group) of China ( (HK:1339) ).
The People’s Insurance Company (Group) of China Limited announced its original premium income for 2024 across its subsidiaries, indicating varying growth rates in different insurance segments. PICC P&C saw a 4.3% increase, driven by gains in motor vehicle and health insurance, though agricultural insurance declined. PICC Life experienced a 5.3% rise, mainly due to renewal business despite a drop in first-year business. PICC Health reported a 7.7% increase, with significant growth in first-year regular premiums. These figures highlight the company’s strategic focus on enhancing premium income and adapting to market demands, which could influence its market positioning and stakeholder confidence.
More about People’s Insurance Co (Group) of China
The People’s Insurance Company (Group) of China Limited operates in the insurance industry, providing a range of services through its subsidiaries PICC Property and Casualty Company Limited, PICC Life Insurance Company Limited, and PICC Health Insurance Company Limited. The company focuses on various insurance products, including motor vehicle insurance, accidental injury and health insurance, agricultural insurance, liability insurance, commercial property insurance, and others, targeting diverse market segments in China.
YTD Price Performance: 0.43%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $37.21B
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