CICC: PICC P&C 1Q Net Profit Under Pressure, Underwriting Profitability Improves
I'm LongbridgeAI, I can summarize articles.
CICC reported that PICC P&Cexperienced a 23.7% YoY decline in net profit to RMB8.631 billion in 1Q, attributed to a high investment base and capital market volatility. However, underwriting profitability improved, with the combined ratio rising 0.3 ppts YoY to 94.2%. The annualized total investment yield decreased by 0.5 ppts YoY to 0.7%. Despite the profit drop, net assets increased by 2.8% since the start of the year. CICC maintained its earnings forecasts for 2026/2027 and reiterated an Outperform rating with a target price of HKD19.1.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: AASTOCKS News The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments