PICC P&C (02328) recorded a net profit of 8.631 billion yuan in the first quarter, a decrease of 23.7% year-on-year.
China Property and Casualty Insurance (02328) announced that in the first quarter of 2026, the company achieved insurance service revenue of 123.015 billion RMB, with a net profit of 8.631 billion RMB, a year-on-year decrease of 23.7%. Among them, motor vehicle insurance achieved insurance service revenue of 760.56 billion RMB, a year-on-year increase of 2.3%, while non-motor vehicle insurance achieved insurance service revenue of 469.59 billion RMB, a year-on-year increase of 1.2%; underwriting profit was 7.154 billion RMB, a year-on-year increase of 7.5%, and the combined ratio was 94.2%, a year-on-year decrease of 0.3 percentage points.
PICC P&C (02328) announced that in the first quarter of 2026, the company achieved insurance service income of 123.015 billion RMB, with a net profit of 8.631 billion RMB, a decrease of 23.7% compared to the previous year. Among them, the insurance service income from motor vehicle insurance reached 76.056 billion RMB, an increase of 2.3% year-on-year, and the insurance service income from non-motor vehicle insurance reached 46.959 billion RMB, an increase of 1.2% year-on-year. Underwriting profit was 7.154 billion RMB, an increase of 7.5% year-on-year, with a combined ratio of 94.2%, a decrease of 0.3 percentage points compared to the previous year.
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