PICC PROPERTY+CASU. fährt Gewinne ein
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2009/04/14 17:40
(Infocast News) PICC Property and Casualty (02328) announced that its direct premiums income for the first three months of 2009 was RMB32.403 billion, up 11.3% compared to RMB29.11 billion for the same period of 2008.
Mal sehen, was morgen draus wird......
[Date:04-15-2009] Source: Dow Jones
PICC Property & Casualty Co. (HKG:2328), China's largest non-life insurer by revenue, said Wednesday its 2008 net profit fell 98% as its underwriting loss widened. Net profit for the 12 months ended Dec. 31 totaled CNY50 million, down from CNY2.99 billion the previous year, PICC said in a statement to the Hong Kong stock exchange. Despite the substantial drop in earnings, the result was still above the average forecast of a net loss of CNY53.75 million in a Thomson Reuters survey of 16 analysts. Revenue rose 14% to CNY101.88 billion from CNY88.67 billion, but its underwriting loss widened to CNY2.49 billion from CNY1.43 billion the previous year on a rise in claims. The company didn't recommend a final dividend, the same as the previous year.
[Date:04-16-2009] Source: Dow Jones
Street estimates for PICC Property & Casualty (HKG:2328) earnings so wide ranging, from small loss to as high as CNY1.1 billion net profit, that actual results showing FY08 net profit diving 98% to CNY50 million likely to disappoint, as underwriting loss widened, investment gains fell. While earnings recovery tipped, with Thomson Reuters pegging FY09-10 net profit of CNY2.50 billion, CNY3.41 billion respectively, that's likely being well priced in with stock trading at 23.8X, 17.5X forward earnings; even management's rather optimistic outlook, probably hard to justify such premium valuation; insurer is optimistic intense market competition in China's non-life insurance market over past few years will ease. Stock +4.4% at HK$5.24 yesterday; psychological HK$5.00 level set to offer support..(RLI)
16.04.2009
aktiencheck.de
Peking (aktiencheck.de AG) - Die PICC Property & Casualty Co. Ltd. (ISIN CN0005531867 / WKN 553186), der größte Nicht-Lebensversicherer in China, musste im abgelaufenen Fiskaljahr einen deutlichen Gewinneinbruch ausweisen.
Wie aus einer am Mittwoch veröffentlichten Pressemitteilung hervorgeht, lag der Nettogewinn nach Anteilen Dritter im Gesamtjahr bei 50 Mio. Chinesischen Yuan (CNY), nachdem im Vorjahr noch ein Nettogewinn von 2,99 Mrd. CNY ausgewiesen worden war. Die Nettoprämieneinnahmen verbesserten sich hingegen von 68,73 Mrd. CNY auf 81,12 Mrd. CNY.
Als Gründe für den deutlichen Gewinneinbruch wurden vor allem höhere Verluste im Versicherungsgeschäft sowie ein deutlich rückläufiges Ergebnis bei Investmentanlagen genannt. Auf die Ausschüttung einer Dividende für das abgelaufene Geschäftsjahr will der Konzern verzichten.
Die Aktie von PICC schloss in Hongkong mit einem Minus von 6,88 Prozent bei 4,88 Hongkong Dollar. (16.04.2009/ac/n/a)
As of last yearend, the group had had total assets of CNY 567.4 billion, with a 111% rocket year over year, and its insurance assets had boosted 51% or CNY 75 billion to CNY 222.2 billion. PICC aggregately reaped revenue of CNY 146.5 billion, surging 52.3% from a year earlier.
Related authorities have lately given their nods to PICC's second additional capital injection scheme that is scheduled to be completed in the first half of 2009. And then total book capital and subordinate capital of the insurer will likely exceed CNY 7.6 billion in amount.
Last year, it successfully acquired a 55% stake in Huawen Media Investment Corporation, and now the internal resources consolidation is in progress in line with the PICC's long-term development strategy.
Source: www.cnstock.com (April 17, 2009)