CPIC: Net profit in the first three quarters of 22.686 billion yuan increased by 15.5% year-on-year

Beijing Business News (reporter Chen Tingting intern reporter Hu Yongxin) on October 29, China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as "China Pacific Insurance") disclosed the data for the first three quarters of 2021, from January to September, the company achieved operating income of 350.934 billion yuan, an increase of 2.6% year-on-year; net profit attributable to shareholders of the parent company of 22.686 billion yuan, an increase of 15.5%; Earnings per share were RMB2.36.

From the perspective of premium income, in the first three quarters of 2021, CPIC achieved a total of 299.678 billion yuan of original insurance premium income, an increase of 0.75% year-on-year.

According to the report, as of the end of the third quarter, the total assets of CPIC were 1,917.901 billion yuan, an increase of 8.3% over the end of the previous year. In the first three quarters of this year, CPIC Life achieved insurance business revenue of 181.796 billion yuan, down 2.4% year-on-year. Among them, the new insurance business was 26.302 billion yuan, an increase of 3.6% year-on-year; the renewal business was 137.542 billion yuan, down 3.4% year-on-year.

In terms of property and casualty insurance, CPIC Property & Casualty achieved insurance business revenue of 118.994 billion yuan, an increase of 3% year-on-year, of which the revenue of automobile insurance business was 66.522 billion yuan, down 8% year-on-year; the income of non-automobile insurance business was 52.472 billion yuan, an increase of 21.4% year-on-year.

From the perspective of investment income, in the first three quarters of 2021, the annualized net investment yield of CPIC's investment assets was 4.3%, down 0.3 percentage points year-on-year; the annualized total investment yield was 5.3%, down 0.2 percentage points year-on-year.