trending Market Intelligence /marketintelligence/en/news-insights/trending/xQDTh--V1f965pxdy4_iWw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

PICC Group FY'17 net profit rises 13% YOY

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


PICC Group FY'17 net profit rises 13% YOY

People's Insurance Co. (Group) of China Ltd. reported a 13% year-over-year rise in net profit for full-year 2017.

Profit attributable to equity holders of the parent rose to 16.10 billion Chinese yuan from 14.25 billion yuan in 2016. Basic EPS rose to 38 fen from 34 fen.

The S&P Capital IQ consensus GAAP and normalized EPS estimates for the company's Hong Kong-listed shares were 40 fen and 42 fen respectively.

Gross written premiums climbed 8.3% to 476.45 billion yuan in 2017 from 439.87 billion yuan in the prior year, and net written premiums increased to 448.58 billion yuan from 407.13 billion yuan. Investment income also rose to 36.48 billion yuan from 33.08 billion yuan in 2016.

Meanwhile, total benefits, claims and expenses jumped to 464.82 billion yuan from 428.39 billion yuan in 2016.

The group's comprehensive solvency margin ratio rose to 299% as of end-2017 from 284% as of end-2016. The core solvency margin ratio rose to 235% from 220% during the same period.

The company's board declared a final dividend of 3.94 fen per share, up from 3.38 fen per share in 2016.

Unit PICC Property & Casualty Co. Ltd. reported a 9.9% year-over-year increase in full-year 2017 profit, to 19.81 billion yuan.

As of March 22, US$1 was equivalent to 6.33 Chinese yuan.