The People's Insurance Company (Group) of China (1339) Q2 2025 earnings summary

Executive summary

• Net profit for H1 2025 reached RMB 36,155 million, up 14.8% YoY; net profit attributable to owners was RMB 26,671 million, up 14.0%.

• Insurance revenue rose 7.1% YoY to RMB 280,250 million; total assets grew 6.3% to RMB 1,878,102 million.

• Interim cash dividend per 10 shares proposed at RMB 0.75, up 19.0% YoY.

• Comprehensive solvency margin ratio stood at 276%, indicating strong capital adequacy.

• Group A-shares and H-shares reached multi-year highs; P&C and Life & Health segments posted historical bests in key metrics.

Financial highlights

• Total assets: RMB 1,878,102 million (+6.3% vs. end-2024); net assets: RMB 390,638 million (+6.3%).

• Insurance revenue: RMB 280,250 million (+7.1% YoY); original premiums income: RMB 454,625 million (+6.4% YoY).

• Net profit: RMB 36,155 million (+14.8% YoY); EPS: RMB 0.60 (+14.0% YoY).

• Annualized total investment yield: 5.0% (+0.9pp YoY); total investment income: RMB 40,758 million (+40.2% YoY).

• Net cash flows from operating activities: RMB 74,845 million (+6.9% YoY).

Outlook and guidance

• Focus for H2 2025 includes high-quality development, risk prevention, digital transformation, and supporting new productive forces.

• Plans to consolidate P&C insurance leadership, accelerate non-vehicle insurance, and expand health and pension services.

• Emphasis on innovation, cost reduction, efficiency improvement, and risk management.