PICC Property & Casualty Co Class H ( (PPCCF) ) has released its Q1 earnings. Here is a breakdown of the information PICC Property & Casualty Co Class H presented to its investors.
PICC Property & Casualty Co Class H is a joint stock company incorporated in China, primarily engaged in the insurance sector, offering a range of property and casualty insurance products. The company has reported its unaudited financial results for the first quarter of 2025, showcasing significant growth in both revenue and profit.
In the first quarter of 2025, PICC Property & Casualty Co achieved an insurance revenue of RMB 120,741 million, marking a 6.1% year-on-year increase. The company also reported a net profit of RMB 11,312 million, representing a substantial 92.7% increase compared to the previous year. This growth is attributed to the recovery of China’s economy and the company’s strategic focus on enhancing its business operations and insurance service capacity.
The company’s insurance business saw a year-on-year increase in original insurance premium income by 3.7%, with notable growth in non-motor vehicle insurance revenue by 11.7%. Additionally, the company recognized an underwriting profit of RMB 6,653 million, a significant 183% increase from the previous year, and a combined ratio of 94.5%, reflecting improved operational efficiency.
Looking ahead, PICC Property & Casualty Co remains committed to its strategic goals of building a world-class insurance financial group. The company plans to continue optimizing its business structure, enhancing its core competitive advantages, and focusing on high-quality development to sustain its growth trajectory.