On the evening of October 29, the people's insurance disclosed its third quarterly report.

The announcement shows: In the first three quarters of 2024, this insurance giant achieved insurance service revenue of 403.765 billion yuan, a year-on-year increase of 6.1%; net income attributable to the parent company's shareholders was 36.331 billion yuan, a year-on-year increase of 77.2%.

In the financial report, the people's insurance disclosed the specific situation of its core businesses, including property insurance, life insurance, health insurance, and asset management.

Tonight, the people's insurance disclosed the performance report for the first three quarters of 2024. The data shows that in the first three quarters, the people's insurance had a total operating income of 469.576 billion yuan, an increase of 12.2% year-on-year. The third quarter's single-quarter revenue was 177.269 billion yuan, a 28.5% year-on-year increase.

Significant increase in quarterly profits

The third quarter report disclosed that the people's insurance recorded a net income attributable to the parent company's shareholders of 36.331 billion yuan in the first three quarters. Among them, a net profit of 13.644 billion yuan was achieved in the third quarter, with a staggering year-on-year increase of 2093.6%.

In this regard, the People's Insurance explained that while consolidating its operational foundation, the substantial growth in total investment income year-on-year was achieved due to the impact of the recovery in the capital markets.

Insurance business performance

Specific business performance based on the third quarterly report.

In terms of property insurance, in the first three quarters of this year, PICC P&C's insurance service income was 364.306 billion yuan, underwriting profit was 6.443 billion yuan, comprehensive cost ratio was 98.2%, and net income was 26.75 billion yuan.

Regarding life insurance of PICC, in the first three quarters of this year, insurance service income was 16.74 billion yuan, net income was 15.582 billion yuan, and the comparable new business value on the same caliber increased by 113.9% year-on-year.

As for health insurance of PICC, the insurance service income was 20.591 billion yuan in the first three quarters of this year, with a net income of 5.57 billion yuan.

Large-cap blue chip etf increased holdings.

Noted by Zishitang: Among the top ten circulating shareholders of PICC, the two shareholders who increased their positions the most are both index ETFs with broad base.

Firstly, it is the Huatai Bairui 300etf, and the other is the E Fund Huatai 300etf. Both of them have increased their holdings by more than 60% compared to the previous period. As of the end of September, the former's assets under management were close to 400 billion yuan, making it the largest equity index etf in A-shares.

In addition, Huaxia Huatai 300etf became a new shareholder of the people's insurance in the third quarter.

It can be seen that passive funds 'adding positions' have risen to become a major shareholder of this large insurance company.

Revealing the train of thought in the asset management business.

In the third quarter report, the people's insurance disclosed the layout of the asset management business as follows:

Firstly, actively allocate high-quality non-standard assets, focus on innovative types of investment opportunities, layout asset-backed plans, public REITs, and other varieties to broaden investment income sources;

Secondly, optimize the credit structure of holdings, enhance the overall credit quality of holdings, and continuously strengthen credit risk control efforts.

Thirdly, in terms of equity investment, strengthen market trend analysis, grasp the timing of short-term operations and industry structural investment opportunities, optimize stock and fund investment strategies;

Fourthly, continue to increase the intensity of investment structural adjustment, using stocks of listed companies with relatively stable profit models and high dividend yields as the main investment types.