Picc Property & Casualty Co., Ltd. Class H · HKEX:2328
Picc Property & Casualty Co., Ltd. Class H — H1 2022 Earnings Presentation
29 slides from Picc Property & Casualty Co., Ltd. Class H's earnings presentation, 2022
Slide 1: 2022 Interim Results
2022 Interim Performance 2022 Interim Results PICC P&C （2328.HK） 1
Slide 2: Disclaimer
2022 Interim Performance Disclaimer This document has been prepared by PICC Property and Casualty Company Limited (hereinafter as the “PICC P&C” or the “Company”) and has not undergone independent verification. In addition to statements of historical facts, this document may also contain certain for
Slide 3: Contents
2022 Interim Performance Contents v Section I Results Overview v Section II Main Work in 2022H1 v Section III Overview of Insurance Business Operations v Section IV Overview of Insurance Fund Investment Business v Section V Key Initiatives for 2022H2 3
Slide 4: Section I Results Overview
2022 Interim Performance Section I Results Overview 4
Slide 5: Overview of 2022 Interim Results
2022 Interim Performance Overview of 2022 Interim Results Business Development Underwriting Profit Investment Income Achieved Rapid Growth Achieved Substantial Growth Declined Slightly RMB 277.408bn 34.4% RMB 8.246bn 96.0% RMB 14.231bn 5.3% Gross Written Premiums Market Share Underwriting Profit Com
Slide 6: Section II Main Work in 2022H1
2022 Interim Performance Section II Main Work in 2022H1 6
Slide 7: Promoted Six Strategic Services and Served Economic & Social Development
2022 Interim Performance Promoted Six Strategic Services and Served Economic & Social Development Serving rural revitalization Serving green environment n Premium income of “Rural Insurance” recorded RMB 17,075 million,providing risk coverage for 99.95 n The insured amount of green insurance such as
Slide 8: Higher Customer Loyalty With Quality Customer Service
2022 Interim Performance Higher Customer loyalty With Quality Customer Service Steady Growth in Continuous the Number of Growth in n The number of individual n Renewal rate of motor Customers Renewal Rate customers reached 116 insurance reached 73.0%, million, up 3.4% YTD up 1.7ppts YoY n The number
Slide 9: Took Practical Actions to Demonstrate Corporate Responsibilities
2022 Interim Performance Took Practical Actions to Demonstrate Corporate Responsibilities Successfully provided all-around support for the service of Beijing 2022 Winter Olympic Games and Paralympic Games Underwrote as the leading insurer of major programs such as ChinaSat 6D and wind power by CNOOC
Slide 10: Section III Overview of Insurance Business Operations
2022 Interim Performance Section III Overview of Insurance Business Operations 10
Slide 11: Rapid Growth in Business with Market Dominance Further Consolidated
2022 Interim Performance Rapid Growth in Business with Market Dominance Further Consolidated Market Share GWP up 9.8% YoY up 0.1ppts YoY 277,408 252,626 34.4% Market share 2021H1 2022H1 2022H1 （RMB mm） 11
Slide 12: Underwriting Profit Achieved Substantial Growth and Combined Ratio Outperformed
2022 Interim Performance Underwriting Profit Achieved Substantial Growth and Combined Ratio Outperformed the Industry Combined Ratio down 1.2ppts YoY Expense Ratio down 1.0ppt YoY Underwriting Profit up 52.5% YoY 25.5% 24.5% 97.2% 96.0% 8,246 (RMB mm) 2021H1 2022H1 5,406 Loss Ratio down 0.2ppts YoY
Slide 13: Stable Growth in Motor Insurance with Combined Ratio Outperformed the Industry
2022 Interim Performance Stable Growth in Motor Insurance with Combined Ratio Outperformed the Industry GWP up 6.7% YoY Combined Ratio down 1.3ppts YoY 128,808 120,755 96.7% 95.4% 70.4% 69.7% 26.3% 25.7% 2021H1 2022H1 2021H1 2022H1 （RMB mm） Expense Ratio Loss Ratio 13
Slide 14: Vigorous Expansion of Household Motor Insurance
2022 Interim Performance Vigorous Expansion of Household Motor Insurance and Continuous Optimization of Motor Insurance Business Structure Renewal Rate of Motor Insurance Renewal Rate of Household Motor Insurance Up 1.7ppts YoY Up 1.4ppts YoY 71.3% 73.0% 74.1% 75.5% 2021H1 2022H1 2021H1 2022H1 Numbe
Slide 15: Rapid Growth in Non-Motor Insurance with Improved Combined Ratio
2022 Interim Performance Rapid Growth in Non-Motor Insurance with Improved Combined Ratio GWP Up 12.7% YoY Combined Ratio Down 1.1 ppts YoY (RMB mm) 148,600 131,871 97.9% 96.8% 73.9% 74.3% 24.0% 22.5% 2021H1 2022H1 2021H1 2022H1 Expense Ratio Loss Ratio 15
Slide 16: Accidental Injury & Health Insurance
2022 Interim Performance Accidental Injury & Health Insurance GWP Up 14.7% YoY Combined Ratio Down 0.8 ppts YoY (RMB mm) 101.6% 100.8% 68,882 60,036 84.9% 82.7% 16.7% 18.1% 2021H1 2022H1 2021H1 2022H1 v Continued to consolidate the advantages of social medical Expense Ratio Loss Ratio insurance busi
Slide 17: Agriculture Insurance
2022 Interim Performance Agriculture Insurance Combined Ratio GWP Up 23.8% YoY Down 7.6 ppts YoY (RMB mm) 96.9% 36,721 89.3% 29,673 75.8% 77.5% 21.1% 11.8% 2021H1 2022H1 2021H1 2022H1 v Made efforts in coverage expansion, new product development Expense Ratio Loss Ratio and standard improvement for
Slide 18: Liability Insurance
2022 Interim Performance Liability Insurance Combined Ratio GWP Up 2.1% YoY Up 7.0 ppts YoY (RMB mm) 105.4% 98.4% 18,876 19,265 63.1% 71.0% 35.3% 34.4% 2021H1 2022H1 2021H1 2022H1 v Adjusted marketing strategies in time to meet Expense Ratio Loss Ratio market demand v Strengthened underwriting risk
Slide 19: Commercial Property Insurance
2022 Interim Performance Commercial Property Insurance Combined Ratio GWP Up 1.3% YoY Down 4.3ppts YoY (RMB mm) 10,121 10,252 97.9% 93.6% 57.5% 55.4% 40.4% 38.2% 2021H1 2022H1 2021H1 2022H1 v Served the risk control demand of enterprises Expense Ratio Loss Ratio v Vigorously developed high-quality b
Slide 20: Credit and Surety Insurance
2022 Interim Performance Credit and Surety Insurance Combined Ratio GWP Up 129.9% YoY Down 26.2 ppts YoY (RMB mm) 2,674 89.6% 63.4% 1,163 1,596 61.5% 29.0% 1,557 1,078 28.1% 34.4% -394 2021H1 2022H1 2021H1 2022H1 Financing Credit Non-Financing Credit Expense Ratio Loss Ratio and Surety Insurance and
Slide 21: Cargo Insurance
2022 Interim Performance Cargo Insurance Combined Ratio GWP Up 2.0% YoY Up 8.7 ppts YoY (RMB mm) 2,529 2,580 91.4% 82.7% 41.7% 58.1% 41.0% 33.3% 2021H1 2022H1 2021H1 2022H1 v Actively seized market opportunities Expense Ratio Loss Ratio v Enhanced business development 21
Slide 22: Other Insurances
2022 Interim Performance Other Insurances Combined Ratio GWP Down 13.2% YoY Up 3.7 ppts YoY (RMB mm) 9,473 79.7% 83.4% 8,226 41.5% 42.1% 38.2% 41.3% 2021H1 2022H1 2021H1 2022H1 Expense Ratio Loss Ratio 22
Slide 23: Appropriated Reserves Adequately, Enhanced Ability to Defend Risks
2022 Interim Performance Appropriated Reserves Adequately,Enhanced Ability to Defend Risks Net Loss and LAE Reserves Net Loss and LAE Reserves Ratio Up 17.8% YoY Up 4.2ppts YoY (RMB mm) 170,995 41.6% 145,199 37.4% 2021.6.30 2022.6.30 2021.6.30 2022.6.30 Note: Net Loss and LAE Reserves Ratio= Net Los
Slide 24: Section IV Overview of Insurance Fund Investment Business
2022 Interim Performance Section IV Overview of Insurance Fund Investment Business 24
Slide 25: Steadily Growth in Total Investment Assets with Prudent Investment Portfolio
2022 Interim Performance Steadily Growth in Total Investment Assets with Prudent Investment Portfolio Total Investment Assets Investment Portfolio Up 2.0% vs. Beginning of the Year Remained Prudent Cash and cash Other investments (RMB mm) equivalents 2.4% 4.3% Investments in 534,072 544,775 associat
Slide 26: YoY Increase in Net Investment Income, Slight Decline in Total Investment Income
2022 Interim Performance YoY Increase in Net Investment Income, and Slightly Decline in Total Investment Income Total Investment Income Annualized Investment Yields (RMB mm) 15,166 14,231 Change 2022H1 2021H1 YoY 9,746 Total Investment 10,497 5.3% 5.9% -0.6ppts Yield 1,877 1,937 Net Investment 3,543
Slide 27: Section V Key Initiatives for 2022H2
2022 Interim Performance Section V Key Initiatives for 2022H2 27
Slide 28: Key Initiatives for 2022H2
2022 Interim Performance Key Initiatives for 2022H2 01 02 03 04 Innovate the supply of insurance， For individual customers， For corporate customers， For government customers， promote the “Six Strategic Services” to strengthen innovation of product enhance the research and strengthen product supply a
Slide 29: Key Initiatives for 2022H2
2022 Interim Performance Key Initiatives for 2022H2 01 05 06 07 04 08 Deepen the operation mode reform of Strengthen cost control，improve the Optimise the asset portfolio，strictly Strengthen scientific and the Business Divisions，standardize the vertical management and centralized control the overall
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