Picc Property & Casualty Co., Ltd. Class H · HKEX:2328
Picc Property & Casualty Co., Ltd. Class H — H1 2023 Earnings Presentation
27 slides from Picc Property & Casualty Co., Ltd. Class H's earnings presentation, 2023
Slide 1: 2023 Interim Results
2023 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 Interim Results Overview Section II Main Work in 2023H1 Contents Section III Overview of Insurance Business Operations Overview of Insurance Fund Section IV Investment Business Section V Key Initiatives for 2023H2 3
Slide 4: Section I Interim Results Overview
Section I Interim Results Overview 4
Slide 5: Results Overview
Results Overview In the first half of 2023, in an effort to actively implement the policies and plans of the central government and under the guidance of the PICC Group’s “To be Excellent Strategy”, the Company and its subsidiaries well positioned itself in serving Chinese modernization through prod
Slide 6: Section II Main Work in 2023H1
Section II Main Work in 2023H1 6
Slide 7: Eight Strategic Services
Increased Innovation in Product and Service Model， Provided High-quality Services for the Chinese Modernization Serving the construction of modernized industrial system Serving the green development u The company actively promoted the strategic project of “Industry + Sector” u The company improved t
Slide 8: Continuously Improved Service Capabilities by Focusing on Customers
Continuously Improved Service Capabilities by Focusing on Customers Steady Growth in the Number of Customers Continuous improvement of online service level u The number of individual customers u Online customer rate of household reached 120 million， Up 1.8% compared motor insurance reached 96.3%，Up
Slide 9: Actively Carried out Flood Prevention and Disaster Relief
Actively Carried out Flood Prevention and Disaster Relief Actively integrated into the government's Total estimated loss amount in the disaster emergency work system area affected by Typhoon Dussuri u Real time monitoring of disaster situations through Traffic Police and Insurer Joint Work，timely re
Slide 10: Section III Overview of Insurance Business Operations
Section III Overview of Insurance Business Operations 10
Slide 11: Rapid Growth in Business with Market Position Maintaining Dominant
Rapid Growth in Business with Market Position Maintaining Dominant Insurance Revenue Up 9.3% YoY Market Share Remained Stable （RMB mm） 224,368 205,189 34.3% Market share 2022H1 2023H1 2023H1 Note：Calculated based on the data of the PRC insurance industry published on the website of the National Admi
Slide 12: Underwriting Profit Increased YoY and Combined Ratio Outperformed the Industry
Underwriting Profit Increased YoY and Combined Ratio Outperformed the Industry Combined Ratio Up 0.1ppts YoY Comprehensive Expense Ratio Unchanged YoY 95.7% 95.8% 26.9% 26.9% 2022H1 2023H1 2022H1 2023H1 Underwriting Profit Up 7.0% YoY Comprehensive Loss Ratio Up 0.1ppts YoY （RMB mm） 8,847 9,469 68.8
Slide 13: Stable Growth in Motor Insurance with Combined Ratio Outperforming the Industry
Stable Growth in Motor Insurance with Combined Ratio Outperforming the Industry Insurance Revenue of Motor Combined Ratio of Motor Insurance Insurance Up 5.2% YoY Up 0.9ppts YoY （RMB mm） 137,907 95.8% 96.7% 131,114 69.8% 69.7% 26.0% 27.0% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Compr
Slide 14: Continuous Optimization of Motor Insurance Business Structure
Continuous Optimization of Motor Insurance Business Structure， Development of Household Motor Insurance Outperformed the Industry Renewal Rate of Motor Insurance Renewal Rate of Household Motor Up 2.0ppts YoY Insurance Up 1.4ppts YoY 75.5% 76.9% 73.0% 75.0% 2022H1 2023H1 2022H1 2023H1 Number of Hous
Slide 15: Rapid Growth in Non-Motor Insurance with Improved Combined Ratio
Rapid Growth in Non-Motor Insurance with Improved Combined Ratio Insurance Revenue of Combined Ratio of Non-Motor Insurance Non-Motor Insurance Up 16.7% YoY Down 1.0ppt YoY （RMB mm） 95.4% 94.4% 86,461 74,075 2022H1 2023H1 2022H1 2023H1 15
Slide 16: Agriculture Insurance
Agriculture Insurance Insurance Revenue Combined Ratio Up 22.2% YoY Up 1.5ppts YoY （RMB mm） 89.5% 91.0% 25,043 20,494 73.7% 76.8% 15.8% 14.2% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Comprehensive loss ratio 16
Slide 17: Accidental Injury & Health Insurance
Accidental Injury & Health Insurance Insurance Revenue Combined Ratio Up 34.1% YoY Down 3.0ppts YoY （RMB mm） 101.5% 98.5% 23,019 17,166 61.1% 64.0% 40.4% 34.5% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Comprehensive loss ratio 17
Slide 18: Liability Insurance
Liability Insurance Insurance Revenue Combined Ratio Up 6.1% YoY Down 2.0ppts YoY （RMB mm） 104.8% 102.8% 16,922 15,947 72.7% 71.0% 32.1% 31.8% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Comprehensive loss ratio 18
Slide 19: Commercial Property Insurance
Commercial Property Insurance Insurance Revenue Combined Ratio Up 3.2% YoY Down 4.9ppts YoY （RMB mm） 96.9% 8,077 8,337 92.0% 68.2% 64.4% 28.7% 27.6% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Comprehensive loss ratio 19
Slide 20: Other Insurance
Other Insurance Insurance Revenue Combined Ratio Up 6.0% YoY Up 0.4ppts YoY （RMB mm） 13,140 83.7% 84.1% 12,391 55.2% 54.0% 28.5% 30.1% 2022H1 2023H1 2022H1 2023H1 Comprehensive expense ratio Note: The other insurance includes credit and surety insurance, cargo insurance, household property insurance
Slide 21: 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 Net Loss and LAE Reserves Ratio Up 6.7% vs. Beginning of the Year Up 1.0ppt vs. Beginning of the Year （RMB mm） 186,823 175,140 41.2% 42.2% 2022.12.31 2023.6.30 2022.12.31 2023.6.30 Notes: （1）N
Slide 22: Section IV Overview of Insurance Fund Investment Business
Section IV Overview of Insurance Fund Investment Business 22
Slide 23: Steadily Growth in Total Investment Assets with Prudent Investment Portfolio
Steadily Growth in Total Investment Assets with Prudent Investment Portfolio Investment Portfolio Total Investment Assets Remained Prudent Other Cash and cash Up 3.6% vs. Beginning of the Year equivalents investments 2.3% 3.2% Investments in （RMB mm） associates and joint ventures 576,019 596,846 10.
Slide 24: Steadily Growth in Total Investment Income
Steadily Growth in Total Investment Income Total Investment Income Total Investment Yield （RMB mm） 14,608 15,146 5,893 2023H1 2022H1 5,817 Total 3,469 Investment Yield 2.6% 2.7% (unannualized） (33) 2022H1 2023H1 Interest income from financial assets not measured at FVTPL Other investment income Shar
Slide 25: Section V Key Initiatives for 2023H2
Section V Key Initiatives for 2023H2 25
Slide 26: Key Initiatives for 2023H2
Key Initiatives for 2023H2 01 02 03 04 Firstly, serving the construction of Secondly, serving the rural Thirdly, serving the building of Fourthly, serving the improvement modern industrial system and revitalization and supporting the China’s self-reliance and strength of people’s livelihood and supp
Slide 27: Key Initiatives for 2023H2
Key Initiatives for 2023H2 05 06 07 08 09 服务现代化产业体 Fifthly, serving the green development and supporting Sixthly, serving the safe development and supporting the Seventhly, serving the regional development and Eighthly, serving the “Belt and Road” Initiative and Ninthly, continuing to optimize the a
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