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PICC Property and Casualty Company (2328) investor relations material
PICC Property and Casualty Company Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Insurance revenue for Q1 2026 reached RMB123,015 million, up 1.9% year-over-year, with net profit at RMB8,631 million.
Original insurance premium income totaled RMB182,995 million, a 1.4% increase year-over-year.
The company maintained a focus on innovation, refined management, and high-quality development.
Financial highlights
Net profit for Q1 2026 was RMB8,631 million, down from RMB11,312 million in Q1 2025.
Operating income was RMB127,945 million, with investment income at RMB10,420 million.
Total investment income for Q1 2026 was RMB4,600 million, with a total investment yield (unannualised) of 0.7%.
Net cash flows from operating activities were RMB6,725 million, down from RMB8,172 million year-over-year.
Outlook and guidance
The company is aligning with China's 15th Five-Year Plan, emphasizing capacity building and innovation to support economic and social development.
- Strong profit and asset growth, record investment and underwriting income, and robust solvency.2328
H2 202526 Mar 2026 - Insurance revenue up 6.0%, P&C premiums up 3.7%, net profit mixed, combined ratio 96.2%.2328
H1 202410 Dec 2025 - Net profit up 38% and insurance revenue up 5.3% year-over-year, with robust investment gains.2328
Q3 202410 Dec 2025 - Net profit up 32.3% to RMB24,455 million, with strong premium growth and improved profitability.2328
H1 202510 Dec 2025 - Net profit surged on premium and investment growth, with strong solvency and digital focus.2328
H2 20241 Dec 2025 - Regulatory reforms and digital innovation drive quality growth and global expansion in non-auto insurance.2328
Investor Day 2025 Presentation7 Nov 2025 - Net profit jumped 50.5% year-over-year on strong underwriting and investment gains.2328
Q3 202530 Oct 2025 - Net profit jumped 92.7% year-over-year in Q1 2025, with strong underwriting and investment gains.2328
Q1 202510 Sep 2025
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