On the evening of August 27, PICC Group disclosed its semi-annual report!
In the first half of 2025, PICC Group achieved a net profit of 35.888 billion yuan, a year-on-year increase of 17.8%; the net profit attributable to shareholders of the parent company was 26.530 billion yuan, a year-on-year increase of 16.9%.
It is worth noting that as of June 30, 2025, the investment asset scale of this large insurance company exceeded 1.7 trillion yuan, an increase of 7.2% compared to the beginning of the year.
PICC Group is a &#34;specialty store&#34; among China's listed insurance companies, with property insurance products as its &#34;basic plate,&#34; primarily relying on auto insurance, corporate property insurance, and liability insurance as important sources of income.
This interim report reveals further &#34;growth momentum&#34; in PICC Group's property insurance business.
<h2>Property Insurance Premium Income Continues to Grow</h2>
It is reported that in the first half of 2025, PICC Group achieved insurance service income of 280.25 billion yuan, a year-on-year increase of 7.1%; original insurance premium income was 454.625 billion yuan, a year-on-year increase of 6.4%.
Among them, PICC Property and Casualty Insurance continued to consolidate its core business role: in the first half of 2025, it achieved original insurance premium income of 323.282 billion yuan, a year-on-year increase of 3.6%, with a market share of 33.5%.
Taking the most &#34;important segment,&#34; motor vehicle insurance, as an example, the auto insurance business accounted for 73.4%, an increase of 1.0 percentage points year-on-year, and motor vehicle insurance achieved insurance service income of 150.276 billion yuan, a year-on-year increase of 3.5%.
In simple terms: premium income is equivalent to &#34;gross income&#34;; insurance service income represents &#34;net operating income,&#34; indicating the actual money the insurance company earned during the period that can be recognized in the income statement.
<h2>Life Insurance Premiums Continue to Rise</h2>
In the first half of this year, PICC Group's life insurance business showed a positive development trend, achieving original insurance premium income of 90.513 billion yuan during the reporting period, a year-on-year increase of 14.5%; first-year premium income was 22.682 billion yuan, a year-on-year increase of 25.6%; renewal premiums were 49.251 billion yuan, a year-on-year increase of 11.7%.
<h2>Total Investment Income of 41.478 Billion Yuan</h2>
In the first half of 2025, PICC Group achieved total investment income of 41.478 billion yuan, a year-on-year increase of 42.7%; the annualized total investment return rate was 5.1%, an increase of 1.0 percentage points year-on-year.
Regarding the year-on-year growth rate of total investment income, PICC Group explained: “Actively seizing investment opportunities in the capital market, optimizing equity structure, and extending asset duration.”
It is noteworthy that PICC Group disclosed an average total investment return rate of 4.5% over the past three years.
Looking at PICC Asset Management under PICC Group: as of June 30, 2025, the asset management scale was 1.94 trillion yuan, an increase of 2.3% compared to the beginning of the year; in the first half of this year, it achieved operating income of 864 million yuan and a net profit of 391 million yuan

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Net profit of 35.888 billion yuan, a year-on-year increase of 17.8%

- In the first half of 2025, China Life Insurance achieved a net profit of 35.88 billion yuan, a 17.8% increase year-on-year, with total investment income reaching 41.48 billion yuan, up 42.7%.  
- The company reported a growth in insurance service revenue of 280.25 billion yuan, with property insurance premium income rising by 3.6% and life insurance premium income increasing by 14.5%.  
- As of June 30, 2025, the investment asset scale surpassed 1.7 trillion yuan, reflecting a 7.2% growth since the beginning of the year.

The overall investment return rate rose to 5.1%! PICC Group's investment income in the first half of the year increased by more than 40%