A few days ago, China Ping An (60 13 18. Shanghai, 23 18. HK) issue quarterly reports. In the first quarter of this year, China Ping An achieved an operating income of 305.94 billion yuan, a year-on-year increase of10.1%; The net profit returned to the mother was 20.658 billion yuan, down 24.1%year-on-year; Operating profit was 43.047 billion yuan, up 65,438+00% year-on-year.
Not only Ping An in China, but also the first quarter net profit of the five major A-share insurance companies declined to varying degrees. The decrease of investment income brought by capital fluctuation is the main reason for the decline of insurance company's performance. In the first quarter, the annualized total investment return rate of China Ping An Insurance's fund portfolio was only 2.3%.
However, with the elimination of the cyclical impact of the comprehensive reform of auto insurance, the performance of premium growth rate returned to normal. Ping An Property & Casualty realized the original insurance premium income of 730./kloc-0.8 billion yuan in the first quarter, up 65.438+00.3% year-on-year.
Market volatility led to a 24% decline in net profit.
A few days ago, China Ping An disclosed that in the first quarter of this year, the company achieved operating income of 305.94 billion yuan, a year-on-year increase of101%; The net profit returned to the mother was 20.658 billion yuan, down 24.1%year-on-year; The operating profit attributable to shareholders of the parent company was 43.047 billion yuan, a year-on-year increase of 65,438+00%.
Data show that in the first quarter of this year, the net profits of China Life Insurance, PICC, China Pacific Insurance and Xinhua Life Insurance were 65.438+0.565.438+0.78 billion yuan, 8.744 billion yuan, 5.437 billion yuan and 65.438+0.344 billion yuan respectively. Among them, the net profit of Xinhua Life Insurance declined the most, reaching 78.7%. Followed by China Renshou, net profit fell by 46.9%. The net profit of CPIC and PICC also decreased by 36.4% and 65,438+02.9% respectively.
The decrease of investment income brought by capital fluctuation is the main reason for the decline of insurance company's performance. China Ping An also said in a quarterly report that in the first quarter of 2023, the international environment was complicated and severe, the epidemic continued to overlap geopolitical conflicts, and the global capital market fluctuated greatly; The epidemic situation in China has spread in many places, and the economy is facing three major pressures: demand contraction, supply shock and expected weakening. The recovery of residents' consumption still faces many challenges, which still has a certain impact on the company's long-term guaranteed insurance business. The decline of the company's net profit is mainly affected by the fluctuation of the capital market.
According to a quarterly report, by the end of March, the investment portfolio of China Ping An Insurance was nearly 4. 1 trillion yuan, an increase of 4.6% compared with the beginning of the year. In the first quarter, the annualized net investment return rate of the company's insurance fund portfolio was 3.3%, and the annualized total investment return rate was 2.3%.
Not long ago, the annual report released by China Ping An showed that in 20021year, the total investment income of China Ping An was1440.86 billion yuan, down 27.8% year-on-year. The total return on investment and net return on investment were 4.6% and 4%, respectively, down 0.5 and 2.2 percentage points year-on-year.
Among other insurance companies, in the first quarter of this year, China Life achieved a total investment income of 44.558 billion yuan, with a simple annualized total investment return rate of 3.88%; PICC realized a cumulative investment income of 36.54 billion yuan, down11.6% year-on-year; The annualized total investment return rate of China Pacific Insurance is 3.7%, down 0.9 percentage points year-on-year; The annualized rate of return on the total investment of Xinhua Life Insurance was 4%, down 3.9% year-on-year.
The value of new life insurance business continues to decline.
In the first quarter of this year, the new business value of China Ping An Life Insurance and Health Insurance was 6543.8+02.589 billion yuan, down 33.7% year-on-year; The value rate of new business was 24.6%, down 6.8 percentage points year-on-year; Operating profit was 29.678 billion yuan, up 65,438+06% year-on-year.
As for the continuous decline in the value of new life insurance business, China Ping An said that it was mainly affected by the adjustment of the agent team, the change of product structure and the high base due to the early consumption of some critical illness insurance caused by the switching of the definition of critical illness in the first quarter of 2002/KLOC-0.
By the end of March this year, the number of Pi of sales agents
By the end of March, the NPL ratio of Ping An Bank was 1.02%, which was the same as that at the beginning of the year. The provision coverage ratio was 289. 1%, up 0.68 percentage points from the beginning of the year.
It is worth mentioning that in retail business, as of the end of March, Ping An Bank managed retail customer assets AUM (including securities assets) of 3.36 trillion yuan, an increase of 5.6% over the beginning of the year; The number of retail customers exceeded 65.438+0.2 billion, an increase of 654.38+0.6% over the beginning of the year; The balance of personal deposits was 839.575 billion yuan, an increase of 9% over the beginning of the year; The balance of personal loans 1.9 1 trillion yuan, an increase of 0.2% over the beginning of the year.
In addition, in the first quarter of this year, Ping An's technology business including lufax, Financial Account, Ping An Health and car home achieved revenue of 247./kloc-0.7 billion yuan, a year-on-year increase of 3.7%.
This article is from Changjiang Business Daily.
Related questions and answers: Ping An policy loan interest rate Ping An insurance policy loan interest rate: The loan interest rate of different policies is different, and the specific interest rate will be determined by the bank according to the actual situation of the borrower. The interest rates of some policies and their loans are as follows: Ping An Longevity Insurance: 7.50%, Endowment Insurance: 9.00%, Children's Lifelong Happiness Insurance: 7.50%, Serious Illness Insurance: 7.50%, Incremental Endowment Insurance: 6. 16%, Centenary Endowment Insurance: 7.50%. The requirement of insurance policy as collateral is that the applicant must be the borrower himself. The cumulative payment period of the policy is not less than three years; The total payment amount is not less than 50,000 yuan (the monthly payment amount is above 200 yuan) and other conditions. Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit. 1. Money other than the principal of deposits and loans (different from "principal"). 2. The abstract interest point refers to the value added when monetary funds are injected into the real economy and returned. In a less abstract sense, interest generally refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry of sub-fund and parent fund (principal). The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time). Interest is the reward that the fund owner gets for lending the fund, which comes from a part of the profits that the producer makes by using the fund to play its operational functions. Refers to the value-added amount brought by monetary funds injected into the real economy and returned. The calculation formula is: interest = principal × interest rate × deposit period × 100%. 3. The classification of bank interest can be divided into two types according to the nature of banking business: bank interest receivable and bank interest payable. Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; It is also part of the bank's profits. Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks. The amount of interest depends on three factors: principal, deposit period and interest rate level. The calculation formula of interest is: interest = principal × interest rate × deposit term.