Core Insights - China Pacific Insurance (02328.HK) reported a 5.9% year-on-year increase in insurance service revenue, reaching RMB 385.92 billion for the first three quarters of 2025 [1] - The company achieved a net profit of RMB 40.27 billion, marking a significant 50.5% year-on-year growth [1] Revenue Breakdown - The original insurance premium income for the first three quarters of 2025 was RMB 443.18 billion, reflecting a 3.5% year-on-year increase [1] - Insurance service revenue from motor vehicle insurance amounted to RMB 227.63 billion, with a year-on-year growth of 3.7% [1] - Non-motor vehicle insurance generated RMB 158.29 billion in insurance service revenue, showing a 9.3% year-on-year increase [1] Profitability Metrics - The underwriting profit for the first three quarters was RMB 314.87 billion, representing a substantial 130.7% year-on-year increase [1] - The combined cost ratio stood at 496.1%, which is a decrease of 2.1 percentage points year-on-year [1] - Motor vehicle insurance business reported an underwriting profit of RMB 11.73 billion, with a combined cost ratio of 94.8%, down by 2.0 percentage points year-on-year [1] - Non-motor vehicle insurance business achieved an underwriting profit of RMB 3.14 billion, with a combined cost ratio of 98.0%, reflecting a decrease of 2.5 percentage points year-on-year [1]
中国财险(02328.HK)：前三季度实现净利润402.68亿元 同比增长50.5%