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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
PICC Property and Casualty Company
PICC Property and Casualty Company (2328) investor relations material
PICC Property and Casualty Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Oct, 2026
Executive summary
9M 2026 insurance revenue rose 2.4% YoY to RMB395,049 million; underwriting profit increased 11.3% to RMB16,545 million, with a 95.8% combined ratio, down 0.3 pp. Net profit was RMB25,954 million.
Original insurance premium income grew 1.7% YoY to RMB450,501 million.
Financial highlights
Operating income was RMB415,437 million versus RMB423,006 million in 9M 2025; operating profit fell to RMB32,148 million from RMB48,751 million.
Net profit was RMB25,954 million versus RMB40,268 million; profit before income tax was RMB31,278 million versus RMB48,704 million.
Total investment income was RMB18,012 million and the unannualised total investment yield was 2.5% for 9M 2026.
Net losses on fair value changes were RMB8,322 million versus gains of RMB10,166 million in 9M 2025.
Segment performance
Motor insurance revenue rose 1.6% YoY to RMB231,254 million; underwriting profit was RMB13,269 million and combined ratio improved 0.5 pp to 94.3%.
Non-motor insurance revenue increased 3.5% YoY to RMB163,795 million; underwriting profit was RMB3,276 million and combined ratio held at 98.0%.
Original premiums: motor RMB220,356 million, up 0.1%; accidental injury and health RMB104,836 million, up 6.1%; agriculture RMB51,772 million, down 0.8%.
Original premiums: liability RMB35,689 million, up 12.7%; commercial property RMB15,157 million, up 1.9%; other insurance RMB22,691 million, down 11.0%.
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Latest events from PICC Property and Casualty Company
- Revenue grew 7.5%, but lower investment yield weighed on profit.2328
H2 2023 - Net profit up 32% to RMB32.3bn, combined ratio at 94.0%, interim dividend RMB0.34/share.2328H1 2026
- Q1 2026 saw modest premium growth, improved underwriting, but lower net profit on weaker investments.2328Q1 2026
- Strong profit and asset growth, record investment and underwriting income, and robust solvency.2328H2 2025
- Regulatory reforms and digital innovation drive quality growth and global expansion in non-auto insurance.2328Investor Day 2025 Presentation
- Net profit up 32.3% to RMB24,455 million, with strong premium growth and improved profitability.2328H1 2025
- Net profit up 38% and insurance revenue up 5.3% year-over-year, with robust investment gains.2328Q3 2024
- Insurance revenue up 6.0%, P&C premiums up 3.7%, net profit mixed, combined ratio 96.2%.2328H1 2024
- Net profit surged on premium and investment growth, with strong solvency and digital focus.2328H2 2024
Next PICC Property and Casualty Company earnings date
H2 202626 Mar, 2027
PICC Property and Casualty Company
Next PICC Property and Casualty Company earnings date
H2 202626 Mar, 2027
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Frequently asked questions
PICC Property and Casualty Company Limited is a China-based insurance company specializing in property and casualty insurance services. A subsidiary of the People’s Insurance Company of China, PICC P&C provides a broad range of insurance products, including auto, property, liability, and agricultural insurance. Serving both individual and corporate clients, the company focuses on financial protection and risk mitigation across various sectors. PICC P&C is one of the key players in China’s non-life insurance market, leveraging a vast distribution network to reach clients nationwide. The company is headquartered in Beijing, China, and its shares are listed on the Hong Kong Stock Exchange.