The overall investment return rate rose to 5.1%! PICC Group's investment income in the first half of the year increased by more than 40%

On the evening of August 27, PICC Group disclosed its semi-annual report!

In the first half of 2025, PICC Group achieved a net profit of 35.888 billion yuan, a year-on-year increase of 17.8%; the net profit attributable to shareholders of the parent company was 26.530 billion yuan, a year-on-year increase of 16.9%.

It is worth noting that as of June 30, 2025, the investment asset scale of this large insurance company exceeded 1.7 trillion yuan, an increase of 7.2% compared to the beginning of the year.

PICC Group is a "specialty store" among China's listed insurance companies, with property insurance products as its "basic plate," primarily relying on auto insurance, corporate property insurance, and liability insurance as important sources of income.

This interim report reveals further "growth momentum" in PICC Group's property insurance business.

Property Insurance Premium Income Continues to Grow

It is reported that in the first half of 2025, PICC Group achieved insurance service income of 280.25 billion yuan, a year-on-year increase of 7.1%; original insurance premium income was 454.625 billion yuan, a year-on-year increase of 6.4%.

Among them, PICC Property and Casualty Insurance continued to consolidate its core business role: in the first half of 2025, it achieved original insurance premium income of 323.282 billion yuan, a year-on-year increase of 3.6%, with a market share of 33.5%.

Taking the most "important segment," motor vehicle insurance, as an example, the auto insurance business accounted for 73.4%, an increase of 1.0 percentage points year-on-year, and motor vehicle insurance achieved insurance service income of 150.276 billion yuan, a year-on-year increase of 3.5%.

In simple terms: premium income is equivalent to "gross income"; insurance service income represents "net operating income," indicating the actual money the insurance company earned during the period that can be recognized in the income statement.

Life Insurance Premiums Continue to Rise

In the first half of this year, PICC Group's life insurance business showed a positive development trend, achieving original insurance premium income of 90.513 billion yuan during the reporting period, a year-on-year increase of 14.5%; first-year premium income was 22.682 billion yuan, a year-on-year increase of 25.6%; renewal premiums were 49.251 billion yuan, a year-on-year increase of 11.7%.

Total Investment Income of 41.478 Billion Yuan

In the first half of 2025, PICC Group achieved total investment income of 41.478 billion yuan, a year-on-year increase of 42.7%; the annualized total investment return rate was 5.1%, an increase of 1.0 percentage points year-on-year.

Regarding the year-on-year growth rate of total investment income, PICC Group explained: “Actively seizing investment opportunities in the capital market, optimizing equity structure, and extending asset duration.”

It is noteworthy that PICC Group disclosed an average total investment return rate of 4.5% over the past three years.

Looking at PICC Asset Management under PICC Group: as of June 30, 2025, the asset management scale was 1.94 trillion yuan, an increase of 2.3% compared to the beginning of the year; in the first half of this year, it achieved operating income of 864 million yuan and a net profit of 391 million yuan