THE PEOPLE'S INSURANCE COMPANY (GROUP) OF CHINA LIMITED Interim Results
Announcement
PICC Group 601319.SH | PICC Group 1339.HK | PICC P&C 2328.HK |
Disclaimer
This presentation has been prepared by the Peoples Insurance Company (Group) of China Limited (the Company). No representation or warranty, expressed or implied, is given as to the fairness, accuracy, completeness or correctness of any information contained herein and they should not be relied upon as such. The Company shall have no liability whatsoever (in negligence or otherwise) for any loss howsoever arising from this presentation or its contents or otherwise arising in connection with this presentation. The information contained herein may be updated, rened, revised, veried or modied, and may be subject to material changes.
This presentation is based on economic, regulatory, market and other conditions as they exist on the date hereof. You should understand that future developments may potentially aect the information contained in this presentation and that the Company shall have no obligation to update, revise or rearm the information set forth in this presentation.
The information contained herein includes certain forward-looking statements or statements which are potentially of a forward-looking nature. Such statements typically contain the words will, expects, anticipates, and similar expressions. Forward-looking statements are related to future events and are subject to future happenings, and hence involving risks and uncertainties. Given these uncertainties, such forward-looking statements should not be relied upon. The Company shall have no liability to update forward-looking statements or revise the forward-looking statements to reect future events or developments.
This presentation and the information contained herein are for your reference only and may not be copied or distributed to any other parties, in whole or in part.
The Group has implemented the Accounting Standards for Business Enterprises No. ˊ Insurance Contracts (Cai Kuai [] No.) (the New Insurance Contract Accounting Standards), the Accounting Standards for Business Enterprises No. ˊ Recognition and Measurement of Financial Instruments (Cai Kuai [] No.), Accounting Standards for Business Enterprises No. ˊ Transfer of Financial Assets (Cai Kuai [] No. ), Accounting Standards for Business Enterprises No. ˊ Hedge Accounting (Cai Kuai [] No. ) and Accounting Standards for Business Enterprises No. ˊ Presentation of Financial Instruments (Cai Kuai [] No.).
The accounting standards disclosed in the Groups Annual Report adopted the Accounting Standards for Business Enterprises No. ՄOriginal Insurance Contracts (Can Kuai []No.),the Accounting Standards for Business Enterprises Terminology No. ՄReinsurance Contracts (Can Kuai []No.) , the Accounting Standards for Business Enterprises No.ՄRecognition and Measurement of Financial Instruments (Can Kuai [] No.),the Accounting Standards for Business Enterprises No. ՄTransfer of Financial Assets(Can Kuai []No.), the Accounting Standards for Business Enterprises No.ՄHedge Accounting (Can Kuai [] No.), the Accounting Standards for Business Enterprises No.ՄPresentation of Financial Instruments (Can Kuai [] No.) and the
Regulations on Accounting Treatment of Insurance Contracts (Can Kuai [] No.).
=(insurance service expenses+ (amortized ceded premium - amortized insurance service costs) + (nance expenses from insurance contracts issued ˊ nancial income from reinsurance contracts held) + Changes in insurance premium reserves) ÷ insurance revenue
= total investment income ˊ gains and losses from the disposal of investment assets ˊ gains and losses on fair value changes of investment assets ˊ impairment losses of investment assets
= (total investment income ˊ interest expenses on securities sold under agreements to repurchase)÷(average total investment assets as of the beginning and end of the period ˊ average amount of nancial assets sold under agreement to repurchase as of the beginning and end of the period) ×
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Results Overview
Results Overview
Insurance Revenue Original premiums income
Net Prot Attributable to Equity | Net Assets Attributable to Equity |
Holders of the Company | Holders of the Company |
+ 8.4% | + 9.1% | + 8.7% | +8.5% |
P&C Insurance
Combined Ratio
Remained Stable
Note: The premiums in this report are original premiums income and based on Old Accounting Standard, unless otherwise stated.
Life & Health | Annualized Total |
Embedded Value | Investment Yield |
+63.8%
Ranked in Fortune Global
5
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PICC - The People's Insurance Company (Group) of China Ltd. published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 07:53:08 UTC.
