Key Changes This Quarter
- Double Growth in Life Insurance Value: In the first quarter of 2026, the Value of New Business (NBV) reached approximately RMB 6.37 billion, a year-on-year increase of 9.6%, with individual insurance new single-item premiums and regular-pay scale showing significant recovery.
- Optimization of Property Insurance Underwriting Efficiency: The Combined Ratio (COR) improved to 96.4%, an optimization of about 1.0 percentage point year-on-year, demonstrating enhanced underwriting profitability in the property insurance business.
- Pressure on Investment Returns: Affected by market interest rate fluctuations, the net investment yield for the first quarter was 0.7% (a year-on-year decrease of 0.1 percentage points), and the total investment yield was 0.8% (a year-on-year decrease of 0.2 percentage points).
Outlook for Next Quarter
- Continuation of Multi-channel and Transformation Strategies: It is expected that bank-insurance partnership channels and the structural transformation of the agent workforce will continue to play their roles, focusing on high-value and long-term protection products to maintain business profit margins.
- Asset-Liability Matching Management: Facing the macroeconomic environment of declining domestic interest rates in China, management will continue to optimize asset allocation and strengthen asset-liability coordination to mitigate the pressure of declining investment yields.
Earnings Per Share (EPS) for the Coming Year
- According to consensus forecasts from market institutions and analysts, benefiting from the steady growth of new business value and profit recovery, China Pacific Insurance’s overall net profit is expected to maintain an upward trend over the coming year (2026 to 2027), with projected full-year net profit reaching approximately RMB 58 billion, driving steady growth in Earnings Per Share (EPS).
Source:
- https://www.cpic.com.cn/upload/resources/file/2026/04/28/95524.pdf
- https://www.cnstock.com/commonDetail/697306
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