China Pacific Insurance (Group) Co Class H ( (CHPXF) ) has released its Q4 earnings. Here is a breakdown of the information China Pacific Insurance (Group) Co Class H presented to its investors.
China Pacific Insurance (Group) Co., Ltd., a leading comprehensive insurance group in China, offers a wide range of risk protection solutions, wealth management, and asset management services through its subsidiaries. The company operates in the life/health insurance and property and casualty insurance sectors, with a focus on high-quality development and innovation.
In its latest earnings report for the year ended December 31, 2024, China Pacific Insurance (Group) Co., Ltd. reported a strong financial performance with a 24.7% increase in group operating income, reaching RMB404.089 billion. The company’s net profit surged by 64.9% year-on-year to RMB44.960 billion, while its embedded value grew by 6.2% to RMB562.066 billion. The company also achieved a significant improvement in its MSCI ESG rating to AA, leading among domestic insurers.
Key highlights from the report include a 5.0% growth in insurance revenue to RMB279.473 billion and a 20.9% increase in new business value (NBV) for CPIC Life, with an improved NBV margin of 16.8%. The property and casualty insurance business maintained underwriting profitability with a combined ratio of 98.6% and a 6.8% rise in primary premium income. The group’s asset management segment also performed well, with a comprehensive investment yield of 6.0% and a 21.2% increase in assets under management.
Looking ahead, China Pacific Insurance (Group) Co., Ltd. remains committed to enhancing its core business segments and pursuing strategic priorities such as healthcare, AI integration, and international expansion. The company aims to continue its transformation journey, focusing on long-term value growth and high-quality development to meet the evolving needs of its customers and the market.
Overall, China Pacific Insurance (Group) Co., Ltd. has demonstrated resilience and adaptability in a challenging global environment, positioning itself for sustained growth and success in the coming years.