The People's Insurance Company (Group) of China (1339) Q1 2026 earnings summary

Executive summary

• Total operating income for Q1 2026 was RMB148,536 million, down 5.1% year-over-year.

• Net profit attributable to owners was RMB8,814 million, a 31.4% decrease year-over-year.

• Insurance revenue increased 2.0% to RMB138,881 million compared to Q1 2025.

• The decline in profit was mainly due to lower investment returns amid capital market volatility.

Financial highlights

• Profit before tax fell 42.7% year-over-year to RMB11,805 million.

• Net cash flows from operating activities dropped 58.0% to RMB15,350 million.

• Basic earnings per share was RMB0.20, down 31.4% year-over-year.

• Weighted average return on equity decreased by 1.9 percentage points to 2.8%.

• Total assets stood at RMB2,023,515 million, nearly flat from year-end 2025.

Outlook and guidance

• The group aims to accelerate its transformation into a world-class insurance and financial group, focusing on high-quality development and stability.