China Taiping Insurance Holdings (China Taiping) released its audited results for the year ended 31 December 2025.
Key Financials • Insurance revenue rose 0.9 % year-on-year (YoY) to HK$112.27 billion. • Profit attributable to shareholders surged 220.9 % YoY to HK$27.06 billion, driven by higher insurance service results, stronger investment income and a one-off PRC tax benefit. • Insurance service results increased 9.0 % YoY to HK$24.00 billion; net investment results climbed 150.1 % to HK$14.58 billion. • Total assets expanded 14.5 % to HK$1.99 trillion; ordinary shareholders’ equity grew 33.9 % to HK$95.15 billion. • Return on equity improved to 25.5 % from 10.0 % in 2024. • Final dividend of HK$1.23 per share is proposed, up 251.4 % YoY; payout totals HK$4.42 billion.
Segment Performance • Life Insurance: profit rose 229.2 % YoY to HK$34.59 billion; CSM reached RMB195.1 billion, up 1.8 %. • PRC Property & Casualty: profit gained 20.1 % to HK$965.70 million; combined ratio improved to 98.8 %. • Overseas P&C: profit dropped 43.0 % to HK$209.49 million as CTPI(HK) underwriting margin narrowed. • Reinsurance: profit increased 34.1 % to HK$1.28 billion; P&C combined ratio at 96.5 %. • Asset Management: profit grew 168.8 % to HK$1.45 billion on higher fee income. • Group investment assets reached HK$1.74 trillion, with the equity allocation lifted to 17.3 %.
Capital & Solvency • Major PRC insurance subsidiaries maintained comprehensive solvency ratios above 200 % (TPL 230 %, TPI 236 %, TPP 215 %). • Financial leverage ratio improved to 23.2 % from 26.2 % a year earlier.
Strategic Highlights • Greater Bay Area premiums HK$55.98 billion; continued leadership in cross-border motor cover. • Green investment portfolio exceeded HK$70 billion; technology sector investment surpassed HK$110 billion. • Group embedded value rose 19.8 % to HK$280.60 billion; embedded value per share HK$58.30.
Outlook Management targets “Risk Prevention, Management Excellence, Growth Acceleration, Safety Assurance” in the first year of the 15th Five-Year Plan, with emphasis on Guangdong-Hong Kong-Macao Greater Bay Area, Belt & Road projects, digital finance and prudent international expansion.
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