PICC GROUP 1Q26 Net Profit Falls 31.4% YoY to RMB8.814 billion
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PICC GROUPreported a 31.4% year-on-year decline in net profit for Q1 2026, totaling RMB8.814 billion. Revenue fell by 5.1% to RMB148.536 billion. Insurance service income rose 2% to RMB138.881 billion, with PICC Property and Casualty contributing RMB123.015 billion and a net profit of RMB8.631 billion. PICC Life's insurance service income was RMB6.688 billion, net profit at RMB1.962 billion, while PICC Health reported RMB8.164 billion in service income and RMB1.965 billion in net profit. The combined ratio improved to 94.2%.
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