PICC Group Anticipates Up to 95% Higher Attributable Net Profit for 2024

MT Newswires Live

01/24

The People's Insurance Company (Group) of China (HKG:1339, SHA:601319) expects a net profit of between 39.9 billion yuan and 44.4 billion yuan for 2024, up by about 75% to 95% from 22.8 billion yuan recorded for the preceding year, a Friday Hong Kong bourse filing said.

The insurance company attributed the increase in profit to the improvements in its business structure, cost reduction measures, and a year-on-year increase in its investment income.

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