Jinwu Financial News | China Financial Insurance (02328) announced that in 2023, the company's net profit to mother was 24.585 billion yuan (RMB, same below), a year-on-year decrease of 15.70%; basic earnings per share were 1.105 yuan, compared with 1.311 yuan in the same period last year; the board of directors recommended paying a final dividend of 0.489 yuan per common share for 2023 and withdrawing 7 billion yuan from any surplus reserve fund.
During the period, the original insurance premium income reached RMB 515.807 billion, an increase of 6.3% over the previous year. The market share is 32.5% of China's property insurance market.
During the period, the company achieved insurance service revenue of 457.203 billion yuan, an increase of 7.7% over the previous year. Among them, auto insurance (including car insurance division business) insurance service revenue was 282.117 billion yuan, up 5.3% year on year; non-car insurance (including non-car insurance division business) insurance service revenue was 17.5086 billion yuan, up 11.9% year on year; non-car insurance (including non-car insurance division business) insurance service revenue accounted for 38.3%, up 1.4 percentage points year on year.
As at December 31, 2023, the company and its subsidiaries had total assets of $703.623 billion and net assets of $234.304 billion; the comprehensive solvency ratio was 232.4%, up 3.1 percentage points from the beginning of the year; and the core solvency adequacy ratio was 208.7%, up 6.8 percentage points from the beginning of the year.