On October 15th, the positive impact of the warming up of the capital markets is reflected in the performance of related companies. The people's insurance and picc p&c successively disclosed impressive third-quarter reports today, with both companies mentioning the performance increase due to the warming up of the capital markets.

The people's insurance announced in the evening that the net income attributable to the parent company's shareholders for the first three quarters of 2024 is expected to be between 33.83 billion yuan and 37.931 billion yuan, an increase of 13.327 billion yuan to 17.428 billion yuan compared to the same period last year, a year-on-year increase of 65% to 85%. After deducting non-recurring gains and losses, the expected net income is 33.579 billion yuan to 37.649 billion yuan, a year-on-year increase of 65% to 85%.

When explaining the reasons for the increase in the company's third-quarter performance, the people's insurance stated that while solidifying operational fundamentals, the substantial growth in total investment income year-on-year due to the warming of the capital markets led to a significant increase in net income compared to the same period last year.

Source: The people's insurance announcement

On the same evening, picc p&c announced on the Hong Kong Stock Exchange that, according to the company's preliminary estimate, the net income for the first three quarters of 2024 is expected to increase by about 20% to 40% compared to the same period in 2023.

When explaining the reasons for the increase in the third-quarter performance in the financial report, picc p&c stated that the company's business scale steadily grew in the first three quarters of 2024, asset allocation further optimized, and the substantial increase in total investment income year-on-year due to the warming of the capital markets.