Picc Property & Casualty Co., Ltd. Class H · HKEX:2328
Picc Property & Casualty Co., Ltd. Class H — H1 2025 Earnings Presentation
27 slides from Picc Property & Casualty Co., Ltd. Class H's earnings presentation, 2025
Slide 1: 2025 Interim Results
2025 Interim Results PICC P&C（2328.HK）
Slide 2: Disclaimer
Disclaimer l 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 forward-looking statements
Slide 3: Contents
Section I Results Over view Contents Section II Main work in 2025H1 Over view of Insurance Business Section III Operations Section IV Over view of Insurance Fund Investment Business Section V Key Initiatives for 2025H2 3
Slide 4: Results Overview
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Slide 5: Results Overview
Results Overview In the first half of 2025, in an effort to actively implement the decisions and plans of the CPC Central Committee and to focus on the strategic goal of PICC Group to “build a first- class enterprise”, the Company spared no efforts to serve the development of the Five Priorities of
Slide 6: Main work in 2025H1
Section II Main work in 2025H1 6
Slide 7: Adhering to the Core Function of Insurance Protection
ADHERING TO THE CORE FUNCTION OF INSURANCE PROTECTION AND CONTINUOUSLY FULFILLING THE “DUAL ROLE” OF ECONOMIC “SHOCK ABSORBER” AND SOCIAL “STABILIZER” n Launched industrial chain insurance initiatives for key sectors such as integrated circuit or domestically n Focusing on meeting the risk protectio
Slide 8: Adhering to the Core Function of Insurance Protection
ADHERING TO THE CORE FUNCTION OF INSURANCE PROTECTION AND CONTINUOUSLY FULFILLING THE “DUAL ROLE” OF ECONOMIC “SHOCK ABSORBER” AND SOCIAL “STABILIZER” n Continuously improved the emergency response system for major disaster claims and optimized claims processes. In the first half of 2025, we organiz
Slide 9: Enriching Products and Services Supply, Advancing Five Priorities
ENRICHING PRODUCTS AND SERVICES SUPPLY, SOLIDLY ADVANCING SERVICES FOR THE FIVE PRIORITIES Innovative technology finance services were introduced The green finance system was improved Continuously expanding the full-life cycle product portfolio of technology With strengthened innovation of green ins
Slide 10: Overview of Insurance Business Operations
Section III Overview of Insurance Business Operations 10
Slide 11: Continued Growth in Insurance Business with Market Position Maintaining Dominant
Continued Growth in Insurance Business with Market Position Maintaining Dominant The Company remained committed to the core function of insurance protection, continued to give full play to its core business role, and shaped development advantages with institutional and operational innovation as impo
Slide 12: Combined Ratio Outperformed the Industry
Combined Ratio Outperformed the Industry The Company deepened operational management for cost reduction, quality improvement and efficiency enhancement, specifically in aspects of underwriting and claims continuously, established a whole-process risk reduction service value chain, and refined the ri
Slide 13: Effectively Strengthened Motor Market Share with Improved Combined Ratio
Effectively Strengthened Motor Market Share with Improved Combined Ratio The Company is accelerating the application of artificial intelligence, enhancing the professional capabilities of its channels, continuously strengthening the systematic construction of underwriting and claims, taking the lead
Slide 14: Motor Insurance
Motor Insurance Continuously Optimizing Rapid Development of the Business Structure New Energy Vehicle Insurance Household Vehicles Premium Contribution 1.0ppt Number of Vehicles Underwritten 36.8% 73.4% 6.16mn Market Share of Household Vehicle New Contracts 0.3ppts Premium income 38.4% 39.2% 27.2bn
Slide 15: Rapid Growth in Non-Motor Insurance with Underwriting Profitability Improved
Rapid Growth in Non-Motor Insurance with Underwriting Profitability Improved The company is proactively laying out to serve the development of new productive forces, promoting the standardization, digitalization, and professionalization of product pricing and claims management, strengthening cost co
Slide 16: Non-Motor Insurance
Non-Motor Insurance Sustained and healthy development Continual optimization of Underwriting profitability of of individual business institutional business non-motor insurance Improved Premium Income 16.6% Premium Income 4.3% Comprehensive Expense Ratio 1.6ppts 26.7bn RMB 47.5bn RMB 25.9% Combined R
Slide 17: Accidental Injury & Health Insurance
Accidental Injury & Health Insurance Insurance Revenue Combined Ratio Up 25.1% YoY Up 1.9ppts YoY （RMB mn） 30,975 99.9% 101.8% 24,751 64.8% 71.1% 35.1% 30.7% 2024H1 2025H1 Comprehensive Expense Ratio 2024H1 2025H1 Comprehensive Loss Ratio 17
Slide 18: Agriculture Insurance
Agriculture Insurance Insurance Revenue Combined Ratio Down 0.5% YoY Down 0.6ppts YoY （RMB mn） 89.0% 88.4% 23,292 23,179 75.3% 74.5% 13.7% 13.9% 2024H1 2025H1 Comprehensive Expense Ratio 2024H1 2025H1 Comprehensive Loss Ratio 18
Slide 19: Liability Insurance
Liability Insurance Insurance Revenue Combined Ratio Up 1.3% YoY Down 0.5ppts YoY （RMB mn） 104.1% 103.6% 18,339 18,575 73.5% 75.0% 30.6% 28.6% 2024H1 2025H1 2024H1 2025H1 Comprehensive Expense Ratio Comprehensive Loss Ratio 19
Slide 20: Commercial Property Insurance
Commercial Property Insurance Insurance Revenue Combined Ratio Up 4.3% YoY Down 9.5ppts YoY （RMB mn） 99.6% 8,862 9,243 90.1% 71.6% 64.3% 28.0% 25.8% 2024H1 2025H1 Comprehensive Expense Ratio 2024H1 2025H1 Comprehensive Loss Ratio 20
Slide 21: Other Insurance
Other Insurance Insurance Revenue Combined Ratio Up 8.8% YoY Up 1.0ppt YoY （RMB mn） 87.6% 88.6% 16,792 15,440 55.2% 58.3% 32.4% 30.3% 2024H1 2025H1 Comprehensive Expense Ratio 2024H1 2025H1 Comprehensive Loss Ratio Note: The other insurance includes credit and surety insurance, cargo insurance, hous
Slide 22: Appropriated Reserves Adequately and Reasonably Enhanced Ability to Defend Risks
Appropriated Reserves Adequately and Reasonably Enhanced Ability to Defend Risks Net Loss and LAE Reserves Ratio Net Loss and LAE Reserves of Motor Insurance Up 9.5% vs. Beginning of the Year Up 1.9ppts vs. Beginning of the Year （RMB mn） 208,137 190,054 2024.12.31 2025.6.30 2024.12.31 2025.6.30 Note
Slide 23: Overview of Insurance Fund Investment Business
Overview of Insurance Fund Section IV Investment Business 23
Slide 24: Steadily Growth in Total Investment Assets with Improved Investment Portfolio
Steadily Growth in Total Investment Assets with Improved Investment Assets Portfolio Total Investment Assets Investment Portfolio Up 5.2% vs. Beginning of the Year Cash and cash equivalents 2.4% Investment properties and （RMB mn） Other investments Investments in associates 711,480 and joint ventures
Slide 25: Rapid Growth in Total Investment Income
Rapid Growth in Total Investment Income Total Investment Income Total Investment Yield Up 26.6% YoY （RMB mn） 17,260 13,638 总投资收益率＝总投资收益÷（期初及期末平均总投资资产－期初及期末平均卖 6,080 2025H1 2024H1 出回购金融资产款），其中，投资资产主要为货币资金、定期存款、买入返售 5,713 Total Investment 金融资产、金融投资、长期股权投资、存出资本保证金、投资性房地产。 7,901 Yield (unannualized) 2.6
Slide 26: Key Initiatives for 2025H2
Section V Key Initiatives for 2025H2 26
Slide 27: Key Initiatives for 2025H2
Key Initiatives for 2025H2 01 02 03 04 05 Serving national strategies Deepening reform and Strengthening professional Adhering to compliant Continuously optimizing and fulfilling the function innovation to create new operations and enhancing operations and firmly asset allocation and of insurance. d
PICC Property and Casualty Company — H1 2025 Earnings Presentation on 6ix