平安保险- 2025 年第三季度业绩预览：净利润强劲，营业利润和新业务价值改善

October 14, 2025 08:22 AM GMT Ping An Insurance Group Co of China Ltd | Asia Pacific Earnings growth could be a highlight in 3Q25. We think OPAT growth further accelerated to 5.0% in 9M25, vs. 3.7% in 1H25, as we expect the AM segment to continue reporting fewer net losses, as per management's guidance (Rmb-36bn in 3Q24 vs. Rmb-12bn in 3Q25e). We estimate net profit grew by a strong 31% y-y in 3Q25, mainly driven by high Life earnings growth at 70%, partly offset by a negative accounting adjustment in Auto ...