PICC P&C reports strong interim profit growth in first half of 2025

PICC Property and Casualty Company Limited (PICC P&C) announced a significant 32.3% year-on-year increase in net profit, reaching RMB24,455 million for the six months ended 30 June 2025. Profit before income tax also surged by 33.5% to RMB28,904 million, driven by strong business performance and investment income. The company's total assets grew by 3.4% to RMB804,605 million, while total equity rose by 7.8% to RMB281,061 million.

The insurer reported a 5.6% increase in insurance revenue to RMB249,040 million, alongside a 44.6% rise in underwriting profit to RMB13,015 million. The combined ratio improved by 1.4 percentage points (pp) to 94.8%, reflecting enhanced operational management. Total investment income also saw a substantial 26.6% increase to RMB17,260 million, with a 0.2 pp rise in total investment yield to 2.6% (unannualized).

PICC P&C's original insurance premium income reached RMB323,282 million, a 3.6% increase, maintaining its leading market share of 33.5% in China's property insurance sector. The board proposed an interim dividend of RMB0.24 per ordinary share for 2025, totaling RMB5,338 million, subject to shareholder approval.