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<Research>UOB Kay Hian Adds PICC P&C's TP to $15.8, Upgrades Rating to Buy
PICC P&C (02328.HK)'s 1Q25 earnings surged by 92.7% YoY on the back of a notable improvement in its combined ratio (CoR) and a sharp rise in investment income, according to...
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<Research>UOB Kay Hian Adds PICC P&C's TP to $15.8, Upgrades Rating to Buy
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PICC P&C (02328.HK)  -0.180 (-1.208%)    Short selling $68.08M; Ratio 17.335%   's 1Q25 earnings surged by 92.7% YoY on the back of a notable improvement in its combined ratio (CoR) and a sharp rise in investment income, according to UOB Kay Hian's research report. The company's total premium inclined by 3.7% YoY with balanced growth in both auto and non-auto insurance segments.

With policy support for non-auto insurance commissions and improved CoR for electric vehicles, PICC P&C is confident in achieving its CoR target for this year. The company also targets its total premium this year to outgrow GDP.

UOB Kay Hian upgraded PICC P&C's rating to Buy and raised its target price from $14.7 to $15.8.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-02 16:25.)

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