Financial Performance - Insurance business revenue for the nine months ended September 30, 2022, was RMB 381.89 billion, representing a year-on-year increase of 10.2%[2] - Underwriting profit reached RMB 11.096 billion, a significant increase of 246.3% compared to RMB 3.204 billion in the same period last year[2] - Total investment income decreased to RMB 19.219 billion, down 11.3% from RMB 21.661 billion in the previous year[2] - The total profit for the period was RMB 30.917 billion, reflecting a 30.7% increase from RMB 23.654 billion year-on-year[2] - Net profit for the nine months was RMB 25.948 billion, up 29.8% from RMB 19.992 billion in the same period last year[2] - Operating revenue for the nine months ended September 30, 2022, reached RMB 337,186,896 thousand, up from RMB 315,573,543 thousand in the same period of 2021, reflecting an increase of about 6.67%[10] - Net profit for the nine months ended September 30, 2022, was RMB 25,948,315 thousand, compared to RMB 19,991,705 thousand in 2021, indicating a growth of approximately 30.53%[11] - The total premium income for the nine months ended September 30, 2022, was RMB 315,777,431 thousand, compared to RMB 292,507,276 thousand in 2021, marking an increase of about 7.95%[10] Claims and Loss Ratios - The combined loss ratio improved to 96.5%, a decrease of 2.4 percentage points compared to 98.9% in the previous year[3] - The company achieved a 72.2% claims ratio, down 1.6 percentage points from 73.8% in the previous year[3] Assets and Liabilities - As of September 30, 2022, total assets amounted to RMB 756,571,554 thousand, an increase from RMB 679,741,781 thousand as of December 31, 2021, representing a growth of approximately 11.35%[8] - The company reported a total liabilities of RMB 547,844,724 thousand as of September 30, 2022, an increase from RMB 476,481,264 thousand as of December 31, 2021, representing a rise of about 14.93%[9] - The company’s total equity increased to RMB 208,726,830 thousand as of September 30, 2022, from RMB 203,260,517 thousand as of December 31, 2021, reflecting a growth of approximately 2.41%[9] Cash Flow - Cash flow from operating activities generated RMB 34,331,199 thousand for the nine months ended September 30, 2022, significantly higher than RMB 5,242,595 thousand in the same period of 2021[12] - The company’s cash flow from investing activities showed a net outflow of RMB 17,574,225 thousand for the nine months ended September 30, 2022, compared to a net outflow of RMB 6,604,309 thousand in 2021[13] - The company’s cash and cash equivalents decreased by RMB 2,528,317 thousand for the nine months ended September 30, 2022, compared to a decrease of RMB 4,092,842 thousand in the same period of 2021[13] Capital and Solvency - The actual capital as of September 30, 2022, was RMB 215.804 billion, showing a slight increase of 0.8% from RMB 214.105 billion[7] - The solvency adequacy ratio rose to 237.9%, an increase of 1.6 percentage points from 236.3% as of June 30, 2022[7] Board of Directors - The chairman of the board is Luo Xi, a non-executive director[14] - The executive directors include Yu Ze, Jiang Caishi, and Zhang Daoming[14] - Li Tao serves as a non-executive director[14] - Independent directors are Lin Hanchuan, Lu Zhongxing, and Qu Xiaohui[14]
中国财险(02328) - 2022 Q3 - 季度财报