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[Hong Kong Stock Connect] The net profit of China Taibao (02601) in the first quarter increased 1.1% year on year, and the value of the new life insurance business increased 30.7% year on year
Jinwu Financial News | China Taibao (02601) announced that in the first quarter of 2024, net profit was 11.759 billion yuan (RMB, same below), up 1.1% year on year; the group achieved operating income of 95.428 billion yuan during the period, an increase of 1.1% year on year; basic earnings per share were 1.22 yuan. In the first quarter, Taibao Life Insurance achieved large-scale premiums of $105.95 billion, of which new premiums were 32,833 billion yuan, up 0.4% year on year; new business value reached 5.191 billion yuan, up 30.7% year on year; insurance service revenue of 20.859 billion yuan, down 5.1 billion yuan year on year
中國太保:2024年第一季度報告
China Taibao (601601.SH): Net profit of 11.759 billion yuan in the first quarter
Gelonghui, April 26: China Taibao (601601.SH) released its report for the first quarter of 2024. During the reporting period, the company achieved operating income of 95.428 billion yuan, up 1.1% year on year; net profit attributable to shareholders of listed companies was 11.759 billion yuan, up 1.1% year on year; net profit attributable to shareholders of listed companies deducted 11.752 billion yuan, up 1.5% year on year; basic earnings per share were 1.22 yuan/share.
CICC: Life insurance profits may exceed expectations, Chinese life insurance welcomes medium-term investment opportunities
Chinese life insurance currently has medium-term investment opportunities.
Changes in Hong Kong stocks | Insurance stocks rose higher, AIA (01299) rose more than 3%. The original premium income of the top five insurers increased 0.96% year-on-year in the first quarter
The Zhitong Finance App learned that insurance stocks were higher. As of press release, AIA Insurance (01299) rose 3.69% to HK$50.55, China Life Insurance (02628) rose 3.79% to HK$9.87, China Taibao (02601) rose 3.51% to HK$16.5, and Ping An of China (02318) rose 3.18% to HK$34.05. According to the news, the five major listed insurers recently revealed the latest premium income situation one after another. According to the data, in the first quarter of this year, the five listed insurers obtained a total of 1066,423 billion yuan in premium income, compared with 10563 in the same period last year.
[Broker Focus] CMB International says the current life insurance industry has a low downside risk and a high margin of safety
Jinwu Financial News | According to CMB International Development Research Report, the premium income growth rate of listed life insurance companies declined in 1Q24, but the decline narrowed month by month. Thanks to the continued strong demand for savings insurance from residents under low risk preferences and the improvement in the value ratio of new banking insurance businesses, the bank expects the new business value of listed insurers to continue to grow rapidly in the first quarter. Based on the robustness of the underwriting side business, the bank is optimistic about China Taibao (02601). The growth rate of financial insurance premium income picked up in March, and the improvement in the pace of underwriting in non-vehicle policy businesses led to growth. The first quarter was affected by freezing rain disasters in some regions, and the industry's payout rate showed an upward trend. The bank expects the first quarter
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