The People's Insurance Company (Group) of China Limited

HK$5.37As of Sun 8 Nov 2026, 12:00 UTC

HKEX:1339Financials

Country Hong Kong

PE (Fwd) •••

TSR 10Y CAGR 10.91%

Div yield 5.56%

ROE 9.39%

Insurance (Property & Casualty)

Beta (5Y) 0.61

PE TTM 6.995

TSR TTM (17.44%)

Mkt cap HK$349.4B

Combined —

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

$6.77

26.16%

127.84%

Buy 11|4|1|8|6

TTM

FYE 31 Dec CNY

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

42.90

Revenue¥B

64.12

68.45

74.31

78.30

84.70

89.49

97.59

106.2

113.3

120.5

47.77

7.31%

7.18%

9.80

Revenue growth%

16.01

13.61

15.11

14.78

16.61

13.67

15.86

16.89

14.16

16.61

24.75

15.86

15.49

4.31

Combined R.%

91.04

89.21

90.50

89.63

90.69

89.36

91.95

90.80

88.84

89.79

5.76

89.79

90.15

28.45

Operating margin%

8.96

8.83

9.84

7.74

8.87

9.43

11.66

13.14

12.04

10.82

18.80

11.66

9.63

26.21

Net margin%

21.44

22.14

24.76

23.39

25.80

23.17

22.78

23.68

24.26

25.59

28.95

23.68

23.53

13.88

P/E ratio (avg)x

22.08

22.71

26.40

28.15

27.60

28.69

32.68

38.01

42.96

44.15

30.59

38.01

28.42

23.79

P/TBVx

41.32

39.77

35.65

38.85

34.59

34.57

38.44

41.88

45.81

47.41

27.50

41.88

39.31

7.542

P/Bx

20.97

24.03

24.53

26.92

29.89

34.03

40.21

41.05

46.45

51.88

24.55

41.05

31.96

18.10

Prem. grth%

24.57

26.75

27.19

28.78

25.93

26.59

24.38

25.24

24.83

22.71

23.34

24.83

25.58

19.55

Invest. yld%

24.54

23.49

22.49

20.11

19.76

18.82

17.17

20.01

17.43

19.74

23.46

18.82

19.88

26.82

BVPS grth%

19.41

17.76

16.63

16.58

18.57

20.87

20.76

18.48

18.09

19.31

10.83

19.31

18.53

26.54

Return on equity%

5.52

8.14

5.96

8.07

6.04

5.64

2.98

0.58

0.40

21.78

0.58

5.58

5.26

Return on assets%

27.59

28.07

25.11

24.85

26.78

24.77

26.47

27.09

29.00

26.58

5.02

26.58

26.68

0.53

EPS¥

0.64

0.61

0.58

0.63

0.57

0.62

0.66

0.61

0.60

0.57

(0.99%)

0.64%

—

26.28

EPS growth%

18.61

16.60

14.58

15.51

12.96

15.49

12.66

14.08

16.65

16.82

13.27

15.49

15.50

0.44

Bookvalue per sh¥

0.50

0.55

0.51

0.50

0.49

0.53

0.50

0.54

0.47

0.29

(1.18%)

(0.83%)

—

0.72

TBV/sh¥

0.17

0.19

0.22

0.24

0.26

0.30

0.33

0.32

0.37

0.81

7.68%

7.67%

—

0.31

Dividend per sh¥

0.33

0.30

0.29

0.32

0.33

0.36

0.39

0.35

0.37

0.33

2.45%

0.56%

—

7.45

Div yield (avg)%

11.83

12.93

14.17

16.58

16.05

17.81

19.33

20.81

21.39

23.99

29.69

20.81

17.19

22.65

Payout ratio%

29.49

31.88

29.98

31.98

32.76

30.70

31.55

32.99

35.48

36.31

2.74

32.99

31.93

63.96

Shares (diluted)B

64.96

60.02

59.39

55.39

48.43

42.74

40.56

39.33

38.17

34.07

65.91

(6.80%)

(5.92%)

9.32

Buyback yield%

6.19

6.59

7.11

7.59

9.50

7.72

7.26

4.42

5.57

5.01

19.75

5.57

6.85

0.467

D/E ratiox

0.227

0.203

0.194

0.180

0.172

0.158

0.142

0.149

0.152

0.403

0.152

0.176

28.95

Assets¥B

203.5

226.7

246.0

257.1

287.8

303.6

339.2

355.4

403.5

450.3

57.56

9.37%

8.97%

79.86

LT debt¥B

7.560

7.460

6.947

6.557

7.162

7.735

7.911

8.313

8.028

7.656

115.7

1.34%

(0.55%)

Peers (US$44.57B)

Cap (US$)

PICC Property and…

48.94B

6.893x

China Pacific Insuranc…

42.56B

7.338x

New China Life…

21.63B

6.356x

MS&AD Insurance Group…

45.12B

8.172x

Capital

TTM

10Y

Leveragex

0.893

0.299

0.242

EBIT/Intx

0.420

0.149

0.150

Own earn%

—

Sh yield%

16.78

26.59

25.38

Owners

Insiders/Inst%

4.43

73.75

Short interest%

5.01

SBC / revenue%

3.11

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

8–13

$1 testx

1.5

Incr. ROIC%

—

The People's Insurance Company (Group) of China Limited, an investment holding company, offers insurance products and services in the People’s Republic of China and Hong Kong. It operates through Non-Life Insurance, Life Insurance, Health Insurance, Asset Management, and Other segments.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥120.5B

7.18%

1.00×

Claims and benefits

¥67.87B

7.37%

1.02×

Total costs

¥99.38B

7.21%

1.00×