中国太保：Life OPAT beat, driving DPS to rise faster than Group OPAT-20250401

1 Apr 2025 CMB International Global Markets | Equity Research | Company Update CPIC (2601 HK) Life OPAT beat, driving DPS to rise faster than Group OPAT CPIC reported a beat on Life OPAT, NBV growth and CSM, indicating the insurer's strong capability to capitalize on value growth and effective A/L mgmt. amid a low interest rate environment. Group OPAT rose 2.5% YoY to RMB 34.4bn, and Life OPAT climbed 6.1% YoY to RMB 27.6bn, better than our forecast (+2%). Net profit came in at RMB45.0bn, up 64.9% YoY, at t ...