Core Viewpoint - Citigroup's report indicates that China Property & Casualty Insurance is expected to see a significant profit increase, with net profit projected to grow by 40% to 60% year-on-year in the first three quarters of 2025, reaching between 37.5 billion to 42.8 billion yuan, despite a high base in Q3 2025 [1] Group 1 - The strong profit growth for PICC is attributed to a notable increase in underwriting profit, driven by improved operational capabilities and risk management [1] - Total investment income is expected to rise significantly, benefiting from an upward trend in the capital markets and a strategy focused on increasing allocations to high-quality equity assets [1] - Citigroup maintains a "Buy" rating on the property and casualty insurance sector, with a target price set at 21.2 HKD [1]
大行评级丨花旗：中国财险发盈喜 予其“买入”评级及目标价21.2港元