On October 28, a financial frontline report stated that China Pacific Insurance (Group) Co., Ltd. (ASX: 601601) held its 2026 third-quarter results briefing today.
Management personnel, when answering questions, stated that regarding products, the combined ratio for the first three quarters of this year decreased by 1.4 percentage points year-on-year. Over the past two years, CPIC (ASX: 02601) has continuously adjusted and optimized its business structure, improved full insurance quality, and strengthened claims management, with good results emerging. Overall, whether it is auto insurance or non-auto insurance, the combined ratio is maintaining a sustained downward trend.
Management personnel stated that the impact of major catastrophes this year is significantly higher than last year. If the impact of rain, snow, and freezing disasters in the fourth quarter of this year is roughly flat compared to previous years, the company remains confident in the continued improvement of the overall combined ratio. In the long run, with the continuous improvement of auto insurance business quality and the decline in the combined ratio, there is sufficient ability to maintain profitability for the overall future property insurance profitability. From the perspective of business development, due to the negative growth in the new car market this year, the premium growth rate of the entire auto insurance sector has maintained a relatively low level. CPIC (ASX: 02601) as well as the entire industry, based on what has been observed so far, have not seen any obvious changes in the new car market in the fourth quarter.
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