Picc Property & Casualty Co., Ltd. Class H · HKEX:2328

Picc Property & Casualty Co., Ltd. Class H — H1 2025 Earnings Presentation

33 slides from Picc Property & Casualty Co., Ltd. Class H's earnings presentation, Aug 27, 2025

  1. Slide 1: PICC 601319.SH 1339.HK 2328.HK

    ╚㎼☭⟛ 601319.SH ╚㎼☭宑⟛ꯟ겐㎑ 1339.HK ╚㎼鯯ꯟ 2328.HK 1

  2. Slide 2: ꄽꁩ⹨Ⲏ⻼续姍悎獏溸⚷긖䧶ꄽꁩ꭛騣悎獏包倣ꭗ┬⻎䟩⺇♨┬ꮺ⯜绢匙 续姍悎獏䨿巉⹴溸⟥䛉氮╚㎼☭宑受ꯟ겐㎑艧⚌劔ꮺ⪫⺶⪫⺶⬮㜜ն⚈✇☭性勑㸉续包倣䨿⻼溸⚈✇⟥䛉溸⪫婞䙎յ ⬮燛䙎յ㴟俠䙎䧶婞燛䙎✑⮃⚈✇僻獏䧶脢뭅獏溸ꮭ…

    ꄽꁩ⹨Ⲏ⻼续姍悎獏溸⚷긖䧶ꄽꁩ꭛騣悎獏包倣ꭗ┬⻎䟩⺇♨┬ꮺ⯜绢匙 续姍悎獏䨿巉⹴溸⟥䛉氮╚㎼☭宑受ꯟ겐㎑艧⚌劔ꮺ⪫⺶⪫⺶⬮㜜ն⚈✇☭性勑㸉续包倣䨿⻼溸⚈✇⟥䛉溸⪫婞䙎յ ⬮燛䙎յ㴟俠䙎䧶婞燛䙎✑⮃⚈✇僻獏䧶脢뭅獏溸ꮭꃎ䧶受駩⚈✇☭□┯䍎❹鰣续包倣䨿⻼溸⚈✇⟥䛉ն⪫⺶傱뀋╬氮续姍 悎獏䧶⪼⫐㵽䧶┱续姍悎獏潸⪸溸⚈✇⫐㵽䨿䑜鱎溸⚈✇䰁换䪩䬎▄ⲏ䧶鯰⚈┯駢㕈◟油䘋䧶⪼♑ⸯ㎌ն续悎獏包倣䨿鿬溸 ⟥䛉⺪茤⚷剳假յ㴟ㄌյ⟶侊յ돂駩⾕⟶婞┻婟⟥䛉⺪茤⚷ꂛ鉿ꓨ㝕剳侊ն 续姍悎獏㕈◟楓鉿劔侞溸缋嵴յ岻䔾յ䉗㐙⹴⪼♑匜⚂նꭗ┬䍎䓝槏闌⻑缩⹿㺥⺪茤⚷䔕⿱续姍悎獏╚⻼溸⟥䛉脯⪫⺶傱

  3. Slide 3: 假⚷駉⬮⮯䭰续겐㎑蔦 2023 䌑 劓 傽鱎䪃鉿վ⚕╃⚷駉⬮⮯睘 25⺵Մ受ꯟ⻉⻎տ鯯⚷ֈ2020։20 ⺵յ⚕╃ ⚷駉⬮⮯睘 22 ⺵Մꓭ鄌䈰⪾燛駌⾕駉ꓪտ鯯⚷ֈ2017։7 ⺵յվ⚕╃⚷駉⬮⮯睘 23 ⺵Մꓭ鄌鰑分鿛瓌տ…

    假⚷駉⬮⮯䭰续겐㎑蔦 2023 䌑 1 劓 1 傽鱎䪃鉿վ⚕╃⚷駉⬮⮯睘 25⺵Մ受ꯟ⻉⻎տ鯯⚷ֈ2020։20 ⺵յ⚕╃ ⚷駉⬮⮯睘 22 ⺵Մꓭ鄌䈰⪾燛駌⾕駉ꓪտ鯯⚷ֈ2017։7 ⺵յվ⚕╃⚷駉⬮⮯睘 23 ⺵Մꓭ鄌鰑分鿛瓌տ鯯⚷ ֈ2017։8 ⺵յվ⚕╃⚷駉⬮⮯睘 24 ⺵Մ㞟劻⚷駉տ鯯⚷ֈ2017։9 ⺵⾕վ⚕╃⚷駉⬮⮯睘 37 ⺵Մꓭ鄌䈰⪾ ⮬䫟տ鯯⚷ֈ2017։14⺵ 僀⚷駉⬮⮯䭰续겐㎑վ2022䌑䌑䍳䫟⼴տ䫧궣溸鯯ⲏ䫟銩⺛䔴ⷬꓠ氠վ⚕╃⚷駉⬮⮯睘 25 ⺵ˋⸯ受ꯟ⻉⻎տ鯯⚷ ֈ2006։3 ⺵յվ⚕╃⚷駉⬮⮯睘 26 ⺵Մ⫙受ꯟ⻉⻎տ鯯⚷ֈ20

  4. Slide 4: Group results

    1 ╃缥 缸ꃎ 2 ⮕升㑊 ╃ 缥 3 ┬⶯䌑 ꓨ掾䈰✑ 4

  5. Slide 5: Group results highlights

    ╃缥嚤閙 ⟛ꯟ劚ⲏ侅⪝ 䓛嬏⬥⯈巷 ⻉䌔⬥鰑分 ☳⩧ ☳⩧ ☳⩧ H 2,803 +7.1 % H 267 +14.0 % 2025䌑6劓勒 3,906 +6.3 % H 2,616 H 234 2024䌑勒 3,674 ⬥鰑分侅漩椚 䙰䫌鰑侅漩椚䌑 ╚劻嬓10艧嵟䛉⻼瓭 ⩧ H 9.5% +0.2 pp H 5.0% +0.9 pp H 0.75 +19.0 % H H 4.1% H 0.63 9.3% 5

  6. Slide 6: Share price and market data

    1.1 둛鯵ꓪ⹿㺥䧯侞兇詇 601319.SH 겐㎑A艧⮱ꂀ6䌑匡劅둛⚃ 9.06⩧ 1339.HK 겐㎑H艧⮱┪䉗13䌑匡劅둛⚃ 6.11⩧ 2328.HK ╚㎼鯯ꯟ⮱┪䉗22䌑匡劅둛⚃ 15.92⩧ 겐㎑⻉䌔⬥⯈巷 겐㎑⻉䌔⬥鰑分 362☳⩧ 3,906☳⩧ ⮱⸉⺮⻎劻假둛 ⮱⸉⺮假둛 鯯分ꯟ缸⻉䧯续椚94.8 % ☭麄ꯟ假╃ⲏ⚃⡽88☳⩧ ⮱ꂀ10䌑⻎劻劅㟲寊䌐 ⮱⸉⺮⻎劻假둛 䙰䫌鰑侅漩408☳⩧ ⮱⸉⺮⻎劻假둛 峜艧⚃╬䨗蔸2025䌑6劓30傽溸⯼㜩勶俚䰕 6

  7. Slide 7: Group revenue and investment income

    1.2 ╃ⲏ閕埛甯⣍㙨ꪍ 겐㎑⟛鰆侅⪝ 鯯分ꯟ⟛鰆侅⪝ ☳⩧ +6.4 % ☳⩧ +3.6 % 4,546 3,233 4,273 3,120 H H H H ☭麄ꯟ⟛鰆侅⪝ ⟛ꯟ鰑ꓭ䫌鰑閕埛 ☳⩧ +13.8 % ☳⩧ +7.2 % 1,312 17,607 1,153 16,418 H H 2024䌑勒 2025䌑6劓勒 7

  8. Slide 8: Group premium and profitability analysis

    1.3 ╃ⲏ缏卐䭦缩⚳ 겐㎑⟛鰆缏卐 鯯分ꯟ 㵶蔦鿕⟛鰆ⷑ鿕ꯟ嬠❛ 28.9 % 73.4% 1.0 pp 1.9 pp ╗☭긌鿕ꯟ⟛鰆侅⪝ 71.1 % 16.6% 13.0 pp 둛◟俠✅受鰆㙨ꅌ ☭麄ꯟ 鯯分ꯟ ☭麄ꯟ ╃ⲏ⶷⻎ 劻☆╃ⲏ⟛鰆侅⪝ ⟛鰆侅⪝ 17.2 % 160☳⩧ 8.9 % 870☳⩧ ԯ 劚ⲏ3.17☳╗☭㵊䨮⾕794┧勨卐㵊䨮 劻☆╃ⲏ⟛鰆ⷑ嬠 66.4% 2.0 pp ✦ 䊎Ⲙ☭麄ꯟⶥ䌑劻⹴♨┪눢䌑劻☆⟛鰆 1.8⠩ ✦ 岻㵊臅䬥䊎Ⲙ⟛鰆11☳⩧ 假╃ⲏ⚃⡽椚 3.9 pp ✦ 膷㎑䐷䬥䊎Ⲙ⟛鰆7☳⩧ 峜假╃ⲏ⚃⡽椚㙨ꅌ╬⺪嬠⺛䔴 8

  9. Slide 9: Group net profit analysis

    1.4 漥⯈㕈熝䭦缩䈷㎷ 겐㎑ 鯯分ꯟ 䪩⟛⯈巷130☳⩧ 勑⬑鰡娉⬮㜜ꓭ䳀⺆嬠❛ ⟛ꯟ劚ⲏ╃缥 ☳⩧ 44.6 % 鿲䌑⮵ 2.8 pp +1.7 % ☭麄ꯟ⻉⻎劚ⲏꁉꮪ 135☳⩧ 291 286 216 2024䌑勒⻉⻎劚ⲏꁉꮪ 1,127 H H H 䓝劻⮵㢽燛駌溸 172 ⟛ꯟ⻉⻎䔕⿱ 䫌鰑╃缥 騫俠⻉⻎劚ⲏꁉꮪ溸 46 ☳⩧ ⛓駉⺈剳 +78.3 % ⟛ꯟ⻉⻎ꓭ鄌⺈Ⲙ뀭 19 175 ⻉⻎劚ⲏꁉꮪ䶨ꨆ -102 123 98 2025䌑6劓勒⻉⻎劚ⲏꁉꮪ 1,262 H H H 9

  10. Slide 10: Group insurance service results

    1.5 鰑续㵄ⲇ┯偃㙨点 겐㎑⻉䌔⬥鰑分 ☳⩧ 鯯ꯟ⬥鰑分 ☳⩧ 6.3 % 7.8 % 219 % 276 % 3,906 3,674 2,811 2,606 겐㎑呦䖦 겐㎑缸⻉ 2024䌑勒 2025䌑6劓勒 2024䌑勒 2025䌑6劓勒 ⣹♕茤ⲇ⩪鳉椚 ⣹♕茤ⲇ⩪鳉椚 呦䖦⣹♕茤ⲇ⩪鳉椚 缸⻉⣹♕茤ⲇ⩪鳉椚 㸓ꯟ⬥鰑分 ☳⩧ ⣍䎙ꯟ⬥鰑分 ☳⩧ % % 4.3 % 31.7 % ☭⟛鯯ꯟ 213 235 413 ☭⟛㸓ꯟ 396 195 171 262 148 148 ☭⟛⣍䎙 149 2024䌑勒 2025䌑6劓勒 2024䌑勒 2025䌑6劓勒 175 315 10

  11. Slide 11: Group solvency and ratings

    1.6 낊ꯟꮑ䱽劔ⲇ劔侞 ꮑ螅ꓨ掾낊ꯟ 겐㎑缋觝嵛Ⲙ⬥⻓ꓭ嵤748☳⩧ 6.9 % 㴟ㄌ낊䱽勨⯜ 鯯ꯟ⬥䍎侅⟛鰆椚 0.6 pp 㸓ꯟ假╃ⲏ鯬⡺鰑ꓭ䧯续椚 0.51PP 鯯ꯟSARMRA駬⮕ 㸓ꯟ낊ꯟ缸⻉駬绣 A级 㑏䭦⻉閕缋觝 ⣍䎙ꯟ낊ꯟ缸⻉駬绣 AA级 䊎㝧䲀ꂛ䫟鉿⻉┞ ⫙⟛ꯟ낊ꯟ缸⻉駬绣 AA级 낊ꯟ⻉閕倁䐮駦ꂛ┞婢点 겐㎑낊ꯟ⢟㟲䪃鉿甯⣍勑⹿气ꓨ㝕낊ꯟ◜⚂ 11

  12. Slide 12: Group investment performance

    1.7 ⲍ茤✑氠劔侞⹿䮢 璺卋⹿䮢缋嵴⭀괭㊮⾕獘⚷甯㴼㊮ⲍ茤 ˙鰡♕佻⮃2,335☳⩧ 14 % ˙劚ⲏ㵄✅缋嵴䫌鰑閕埛 ˙槏 鰡 ⚂ 俚 鱪 1 . 1 ☳ ⚂  傽 性 낊ꯟ⟛걁ꓭ뀭 鱪1.1 ┧☳⩧ 58.2┧⚂ 1,780┧☳⩧ ˙璺卋⢳㟲锟趴㴼傽㐌괭瞏 153 ˙ꓭ鄌◩碋㝕倁皺 鱎ꓨ㝕捊㵭◜侚溸槏鰡劚ⲏ 6.9 % 䫌鰑閕埛 12.4% ˙䈵捊⟛ꯟ锭漺23 ╗澉յ127 ╗ 㐌䉗⟛걁☭⺛4.4 ☳ 劚ⲏ3.17☳╗☭㵊䨮⾕794┧勨卐㵊䨮 12

  13. Slide 13: Investment portfolio allocation

    1.8 䩝㵄⢳㟲ꓭ鄌◩碋㝕倁皺 璇䪫ꓭ鄌 缻虝ꓭ鄌 ˙駬⛓╚䖦 䧯皒⪢㎼눢㵶璇䪫䧯卸┱焒駮分勶ꗞ駩 ˙ 䪩⟛假茤徏鿕616┧鿵 36.8%假茤徏 ˙⪢锭漺 鿕ꯟ⮃嶯뀉潨⩰⻑㐃눥յ峪㎼訒㐌 ˙╬낊氲յ⩱⚨յ寊氲瞏庣崀茤徏䳀❵낊ꯟ⟛ 㵄⻓璇䪫⟛ꯟ⮕╚䖦㎼㵶璇⮱╚䖦㓻䉗 ˙䪩⟛둛假䪫勘⚕╃12.7┧㵶 걁6,834☳⩧ ˙缻虝䫌鰑閕埛1,404☳⩧ 3.6% ˙긖⻔璇䪫㒘╚㸰⚕╃䲀⮃璇䞒⟛ 13.6% ⫄脚ꓭ鄌 册䞒ꓭ鄌 ˙睘◝佻叻䌑ꓭ硅槏閕埛6,783☳⩧ ˙䪩ⲋ侓瞬䙎⣍䎙ꯟ뀉潨 1,373 ╗ ˙ガ╃⫄脚ꓭ硅槏鰑分閕埛 睘┩佻叻╗☭⫄脚ꓭ閕埛⟛鰆 177.4% ˙勨卐⫄脚劚ⲏ锭漺

  14. Slide 14: Results

    1 ╃缥 缸ꃎ 2 ⮕升㑊 ╃ 缥 3 ┬⶯䌑 ꓨ掾䈰✑ 14

  15. Slide 15: P&C results highlights

    鯯分ꯟ╃缥嚤閙 ⟛ꯟ劚ⲏ侅⪝ ⬥⯈巷 ⬥鰑分 2,490 ☳⩧ 245 ☳⩧ 2,811 ☳⩧ +5.6 % +32.3 % +7.8 % 缸⻉䧯续椚 ⬥鰑分侅漩椚 ╚劻嬓10艧嵟䛉⻼瓭 94.8 % 9.0 % 2.4 ⩧ -1.4 pp +1.3 pp +15.4 % 峜㠁傱杅⯋峜僻鯯分ꯟ性䭰☭受鯯ꯟ┯⻼☭受눥 15

  16. Slide 16: Auto insurance operating analysis

    2.1.1 鿕ꯟ╃ⲏ皶◚⚳ⲹ甯㎷ ⟛鰆侅⪝甯⣍㙨ꪍ ╃ⲏ缏卐䭦缩⚳ 漥⯈茤ⲇ䭦缩㙨点 ˙⟛鰆侅⪝ ˙㵶蔦鿕⟛鰆ⷑ嬠 ˙缸⻉鰆氠椚 1,441☳⩧ 3.4 % 73.4% 1.0 pp 21.1% 4.1 pp ˙㵶蔦鿕⟛鰆侅⪝ ˙假鿕⟛鰆ⷑ嬠 ˙缸⻉䧯续椚 1,048☳⩧ 4.7 % 17.2 % 0.2 pp 94.2% 2.2 pp ˙假茤徏鿕⟛鰆侅⪝ ˙䪩⟛⯈巷 38.4 % ˙尸鿕ꯟ缩⟛椚 0.1 pp 67.7 % 272☳⩧ 87☳⩧ 16

  17. Slide 17: Non-auto insurance operating analysis

    2.1.2 긌鿕ꯟ╃ⲏ漥⯈茤ⲇ侊ㄌ ╗☭╃ⲏ䗪ꅌ⹿㺥 岻☭╃ⲏ䭦缩⚳ 漥⯈茤ⲇ⻎嬠䳀ⶬ ˙⟛鰆侅⪝ ˙⟛鰆侅⪝ ˙缸⻉鰆氠椚 267☳⩧ 16.6 % 475☳⩧ 4.3 % 25.9% 1.6 pp ˙갫鿕╗긌庹ꄟ椚 ˙缸⻉䧯续椚 ˙缸⻉䧯续椚 77.0% 3.4 pp 95.1% 3.2 pp 95.7% 0.1 pp ˙缸⻉䧯续椚 ˙䪩⟛⯈巷 ˙䪩⟛⯈巷 89.9% 0.5 PP 13☳⩧ 2.0 ⠩ 43☳⩧ 13.0 % 峜╗☭╃ⲏ缸⻉䧯续椚⾕岻☭╃ⲏ缸⻉䧯续椚յ䪩受⯈巷性╬╚㎼⬮⮯僀⬮⮯⺛䔴俚䰕 17

  18. Slide 18: P&C profitability analysis

    2.1.3 鯯ⲏ㵄ⲇ겋⸦ ⬥鰑分 ☳⩧ 勑⬑鰡娉⬮㜜ꓭ⬥뀭 ☳⩧ 缋觝嵛Ⲙ⬥⻓ꓭ嵤 ☳⩧ 7.8 % 9.5 % 26.6% 2,081 1,901 2,811 269 2,606 212 2024䌑勒 2025䌑6劓勒 2024䌑勒 2025䌑6劓勒 H H ⬥鰑分侅漩椚 勑⬑鰡娉⬮㜜ꓭ䳀⺆嬠❛ ⣹♕茤ⲇ⩪鳉椚 1.3 pp 2.8 pp 235% 213% 9.0% 7.7% 148 148 149 149 2024䌑勒 2025䌑6劓勒 呦䖦 缸⻉ H H ⣹♕茤ⲇ⩪鳉椚 ⣹♕茤ⲇ⩪鳉椚 18

  19. Slide 19: Property and casualty results highlights

    㸓ꯟ╃缥嚤閙 ⟛ꯟ劚ⲏ侅⪝ 劻☆⟛鰆侅⪝ 䙰鰑分 140 ☳⩧ 719 ☳⩧ 7,845 ☳⩧ +32.5 % +15.8 % +6.0 % ⻉⻎劚ⲏꁉꮪ 假╃ⲏ⻉⻎劚ⲏꁉꮪ ⬥鰑分 1,031 ☳⩧ 102 ☳⩧ 413 ☳⩧ +11.4 % +28.1 % +4.3 % 19

  20. Slide 20: Channel structure analysis

    2.2.1 ╃ⲏ鯵䘒䭦缩侊ㄌ 假╃ⲏ⚃⡽椚 假╃ⲏ⚃⡽ ☳⩧ 4.0 pp 71.7 % ⟛鰆侅⪝905☳⩧ 14.5 % 50 눢䌑劻☆⟛鰆227☳⩧ 25.6 % H 2025䌑H H H 劔侞╃ⲏ⚃⡽ ☳⩧ ⫐⻼⚃⡽ ☳⩧ 缩劻⟛鰆493☳⩧ 11.7 % 19.8 % 9.0 % 劻☆⟛鰆ⷑ嬠79.5% 1,306 0.9 pp 266 1,197 222 148 149 2024䌑勒 2025䌑6劓勒 2024䌑勒 2025䌑6劓勒 峜假╃ⲏ⚃⡽㙨ꅌյ假╃ⲏ⚃⡽椚╬⺪嬠⺛䔴 20

  21. Slide 21: Revenue by segment

    2.2.2 廊ꇔ┺╃⹿㺥茤ⲇ䳀ⶬ ╗ꯟ廊ꇔ ꧼ⟛廊ꇔ ⟛鰆侅⪝ 531☳⩧ 24.1% ⟛鰆侅⪝354☳⩧ 3.0 % • 눢䌑劻☆⟛鰆153☳⩧ 53.9 % ⶥ䌑劻⹴♨┪劻☆⟛鰆侅⪝ • ◩䌑劻⹴♨┪劻☆⟛鰆侅⪝ 11.3 % • 缸ꓭ廊ꇔ 64.2 % ㎑ꯟ廊ꇔ • 假⫯廊ꇔ 19.9 % • 焝劻ꯟ⟛鰆侅⪝ 7.8 % 氲ガ廊ꇔ • 蔦觝䌐⺬⟛鰆侅⪝ 12.5 % 21

  22. Slide 22: Life and health results highlights

    ⣍䎙ꯟ╃缥嚤閙 ⟛ꯟ劚ⲏ侅⪝ ⬥⯈巷 ⬥鰑分侅漩椚 156 ☳⩧ 51 ☳⩧ 29.9 % +13.2 % +49.6 % +3.2 pp ⻉⻎劚ⲏꁉꮪ 假╃ⲏ⻉⻎劚ⲏꁉꮪ ⬥鰑分 231 ☳⩧ 71 ☳⩧ 195 ☳⩧ +14.6 % +37.1 % +31.7 % 22

  23. Slide 23: Channel structure analysis

    2.3.1 ⚃⡽⮱ꅐ茤ⲇ兇詇䳀ⶬ 假╃ⲏ⚃⡽椚 假╃ⲏ⚃⡽ ☳⩧ 3.9 pp 51.0 % ⟛鰆侅⪝407☳⩧ 12.2 % 38 눢䌑劻☆⟛鰆56☳⩧ 52.3 % H 2025䌑H H H 缩劻⟛鰆95☳⩧ 12.0 % 劔侞╃ⲏ⚃⡽ ☳⩧ ⫐⻼⚃⡽ ☳⩧ 32.6 % 30.9 % 劻☆⟛鰆ⷑ嬠37.1% 3.6 pp 357 206 148 149 2024䌑勒 2025䌑6劓勒 2024䌑勒 2025䌑6劓勒 峜假╃ⲏ⚃⡽㙨ꅌյ假╃ⲏ⚃⡽椚յ劔侞╃ⲏ⚃⡽㙨ꅌյ⫐⻼⚃⡽㙨ꅌ╬⺪嬠⺛䔴 23

  24. Slide 24: Channel business performance

    2.3.2 ┯偃Ⲏ点廊ꇔ䐮駦 ◧臅羱╃ⲏ⟛鰆侅⪝ ꧼ⟛廊ꇔ⟛鰆侅⪝ ˙箕駉㵊䨮7,900┧☭ ˙눢䌑劻☆⟛鰆 23.7% H 102 +9.5 % H 140 +18.8 % H 94 ⣍䎙硅槏劚ⲏ H 480┧☭姍 118 ☳⩧ ☳⩧ 21.4% 獘⟛ꬾ駲䢌杅洡瞏 ㎑㵊╃ⲏ溯┧♨┪ ⮱假㒘╃ⲏ⟛鰆侅⪝ 㝕뀉潨⟛鰆侅⪝ 13.0 % 32.7 % 24

  25. Slide 25: Investment results highlights

    鰑分硅槏:╃缥嚤閙 ⟛ꯟ鰑ꓭ䫌鰑閕埛 A艧鰑分䭦♎閕埛 OCI艧玭缸⻉侅漩椚 鱪鱴屽广300绞⯈䭰俚 17,607 ☳⩧ +26.1 % 780 bp +7.2 % 䙰䫌鰑侅漩 䙰䫌鰑侅漩椚䌑 ⬥䫌鰑侅漩 408 ☳⩧ 5.0 % 296 ☳⩧ +40.2 % +0.9 pp +10.5 % 25

  26. Slide 26: Investment strategy and structure

    2.4.1 鰑分ꏕ翞缏卐䭦缩⚳全Ⲙ䫌鰑茤ⲇ┯偃䳀ⶬ 鰑分缏卐⚳ ˙广⪝鴬鉿ꪍ劻䫌鰑յ⚃⡽䫌鰑 ꂛ┞婢Ⲏ点鰑分鯬⡺ⶑꏕ硅槏䪻䳣 槏䗼 ⯈椚둛掾Ⲏ㝕ꪍ╽劻⡺⯟ꏕ翞ⲇ ˙Ⲏ㝕OCI艧玭ꏕ翞⚳TPL艧玭 䍳㎼⡺⹴侓䍠⡺ⷑ嬠 1.8 pp 艧㕈䫌鰑瞬汻OCI艧玭閕埛 60.7% 全Ⲙ䫌鰑茤ⲇ䳀ⶬ ⹿䮢㎷侅鰑分⸐薷焪✑氠 TPL艧玭⾕㕈ꓭ䫌鰑侅漩椚 ㎷侅鰑分⯈䛉侅⪝ 2.4 % 䱗⻐⺪嬠⪫Ⳬ㕈ꓭ⯼30 % 26

  27. Slide 27: Investment portfolio allocation

    2.4.2 ⟛ꯟ鰑ꓭⲍ茤✑氠劔侞⹿䮢 訒㵄╚ꪍ劻鰑ꓭ ⲙⲇ㝃㺂姍յ㝃佻叻 ⪝䉗锢寛 ⫄脚⟛ꯟ✅笡䐮駦 ⺞稝⮱假鿛㒘 劚ⲏ㎼㵶ꓨ㝕䧹汻 ⹿䮢鰑续䉗㐙甯㴼㊮✑ ☭⟛⫄脚硅槏鰑分閕埛痓熏 氠A艧鰑分ⷑ嬠 1.2 pp 駦皒䉗㐙눢⶿둛ꅌ⪫鴤䭦劔㒘 7,000☳⩧ ┯Ⲙ分ABS分⿣☭⟛鰑分-䌦 僻둛ꅌ䭦劔㒘┯Ⲙ分鰑分佻䭦 睘┩佻叻ガ╃⫄脚ꓭ硅槏鰑分 璺卋⹨┱⟛ꯟ鰑ꓭꪍ劻艧玭 ┺뀉駉⮦ⲙⲇ漽嵛㲾ꓪ鰑 閕埛 䫌鰑駽掾裯䪟駽掾閕埛 2⠩ 分 100☳⩧ 駦皒☭⟛鰑续-㎼羱假徏艧勶 䫌鰑駉⮦璺卋劚ⲏ䧰㎼假 㒘茤徏✅笡䐮駦⾕茤徏缻虝⛽ 牕鿛㒘 27

  28. Slide 28: Outlook

    1 ╃缥 缸ꃎ 2 ⮕升㑊 ╃ 缥 3 ┬⶯䌑 ꓨ掾䈰✑ 28

  29. Slide 29: Outlook and key priorities

    ┬⶯䌑ꓨ掾䈰✑  臔ⲇ⢳点ⲍ茤  臔ⲇ둛鯵ꓪ⹿㺥 • 劚ⲏ⹿㺥假鯵气分ⲇ • 䈷㎷鯯ꯟ䉗㐙䑜뀖⚳ⲹ䲀Ⲙ㸓ꯟꨆみ ☭⽄┺╃յ膷╃⹿㺥Ⲏ㝕⣍䎙ꯟ • 劚ⲏ甯㜾鰅䪆⫐괛 杅虝分⿣⮱假ⲇ䍳䳀ⶬ全Ⲙ䫌鰑茤ⲇ • 劚ⲏ⪎䍐册䞒宑气 • 广訒㵄ꮴ续䳀鯵㙨侞⾕ꪍ⽟劻脞呦 • 劚ⲏ꼐䙎㴘⪢䐮駦 ⪢긖Ⲏ点鰑分鯬⡺硅槏䈷㎷䳀ⶬ漥⯈ 茤ⲇ  臔ⲇ䲀Ⲙ⪮뀉侊긞  臔ⲇꮑ䱽낊ꯟ ⪫⺶岖槏侊긞 㴟ㄌ⯜䍳䐮駦䭦缩䳀ⶬ⪢긖낊ꯟ • • • 겐㎑䧹汻硅䱽勨⯜侊긞 硅槏✅笡溸⯼炽䙎⾕劔侞䙎 鰘茤㕈㺂⹿㺥勨⯜侊긞 濫ⲇⲎ点䍎侅⟛鰆յ⯈䈽䰁յ⟥氠 • • 㵊䨮鰑徏⪴☑勨⯜侊긞 낊ꯟ瞏ꓨ掾낊ꯟꮑ䱽 • 俚㲼

  30. Slide 30: be ll le]

    be ll 5 le] 4

  31. Slide 31: Reconciliation of profit attributable to shareholders

    ꮩ╚㎼⚷駉⬮⮯⾕㎼ꮪ⚷駉⬮⮯全锢䈽䐻 ⶿⛻溯┧⩧☭宑䉕 䓛㺲◟嬏⪫⺶艧╅溸⬥⯈巷 䓛㺲◟嬏⪫⺶艧╅勶漩 뀉潨 2025H 2024H1 䨗蔸2025䌑6劓30傽 䨗蔸2024䌑12劓31傽 䭶╚㎼⚕╃⚷駉⬮⮯ 26,530 22,687 285,111 268,733 䭶㎼ꮪ鯯ⲏ䫟⼴⬮⮯騫俠溸뀉潨⹴ꓭ뀭 ⫰ꯟ㝕捊⟛鰆⬮㜜ꓭ 908 951 1,086 178 臅觝⚕╃艧勶瓑ꓤ -540 - - - ┪ꃎ騫俠◜뀉溸ꄨ䐥䨿䕒瓭䔕⿱ -227 -238 -272 -45 䭶㎼ꮪ鯯ⲏ䫟⼴⬮⮯ 26,671 23,400 285,925 268,866 31

  32. Slide 32: Key financial data of the Group

    ꮩ겐㎑全锢鯯ⲏ俚䰕╚㎼⚷駉⬮⮯ 溯┧⩧☭宑䉕㠁傱杅⯋峜僻 H H 潸㸉⺈ ⟛ꯟ劚ⲏ侅⪝ 280,250 261,629 7.1% ⪼╚ ☭⟛鯯ꯟ 249,040 235,841 5.6% ☭⟛㸓ꯟ 14,018 10,576 32.5% ☭⟛⣍䎙 15,603 13,786 13.2% ⯈巷䙰뀭 42,468 34,969 21.4% 䓛㺲◟⪫⺶艧╅⬥⯈巷 26,530 22,687 16.9% 嬓艧侅漩☭宑䉕⩧ 0.60 0.51 16.9% Ⲏ勶䌐性⬥鰑分侅漩椚 9.5% 9.0% ┪ⶬ0.5╗溯⮕掾 䙰䫌鰑侅漩椚(䌑) 5.1% 4.1% ┪ⶬ1

  33. Slide 33: Key financial data of PICC P&C

    ꮩ겐㎑全锢鯯ⲏ俚䰕㎼ꮪ⚷駉⬮⮯ 溯┧⩧☭宑䉕㠁傱杅⯋峜僻 H H 潸㸉⺈ ⟛ꯟ劚ⲏ侅⪝ 280,250 261,629 7.1% ⪼╚ ☭⟛鯯ꯟ 249,040 235,841 5.6% ☭⟛㸓ꯟ 14,018 10,576 32.5% ☭⟛⣍䎙 15,603 13,786 13.2% 瓭⯼⯈巷 43,064 36,348 18.5% 䓛㺲◟⪫⺶艧╅⬥⯈巷 26,671 23,400 14.0% 嬓艧侅漩☭宑䉕⩧ 0.60 0.53 14.0% Ⲏ勶䌐性⬥鰑分侅漩椚 9.5% 9.3% ┪ⶬ0.2╗溯⮕掾 䙰䫌鰑侅漩椚䌑 5.0% 4.1% ┪ⶬ0

PICC Property and Casualty Company — H1 2025 Earnings Presentation on 6ix