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China's oldest and largest state-owned insurance group, anchored by its dominant property-and-casualty subsidiary PICC P&C.
China's oldest and largest state-owned insurance group, anchored by its dominant property-and-casualty subsidiary PICC P&C.
Is the parent of China's PICC insurance businesses, with most profit coming from its stake in PICC Property and Casualty, which writes mainly vehicle and commercial cover; smaller earnings come from life, health and asset management. The state, through the Ministry of Finance, is the controlling shareholder. This is the Hong Kong H share.
In one line: China's state-owned insurance conglomerate, akin to a government-run Allstate/AIG.
Moat: narrow (scale, brand, distribution). Largest P&C distribution network and brand trust in China, built over decades as the state insurer.
Headquarters: Beijing, China · Founded: 1949 · Employees: 179,898
Size People's Insurance Co. (Group) of China (1339.HK) is a Hong Kong Financials company (Multi-Line Insurance) with a market value of $46.1B, the 39th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.37 on 6 Nov 2026.
Performance Over six months the shares fell 1.6%, against +15.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median +9.4%); the operating margin is 13.2% (peer median 17.3%).
Valuation It trades at 0.60× book value against a peer median of 1.78× (cheapest of 21).
Price implies The share price implies a return on equity of about 5.6%; People's Insurance Co. (Group) of China delivers 18.1%, so the price asks less than the business earns today.
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$737B | HK$693B | HK$633B | HK$605B | HK$597B |
| Revenue growth | — | +9% | +5% | +1% | — |
| Net income | HK$64.1B | HK$50.1B | HK$45.7B | HK$24.7B | HK$29.5B |
| Free cash flow | HK$151B | HK$155B | HK$122B | HK$122B | HK$127B |
| Capital expenditure | HK$5.33B | HK$5.19B | HK$4.77B | HK$3.95B | HK$7.65B |
| Total debt | n/a | HK$275B | HK$182B | HK$169B | HK$165B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| People's Insurance Co. (Group) of China 1339.HK | $46.1B | -2% | +11% | 18% | 0.60× | 5.6% |
| Ping An 2318.HK | $138B | -17% | -8% | 10% | 0.79× | 9.7% |
| China Pacific Insurance (Group) 2601.HK | $42.5B | -22% | +9% | 14% | 0.69× | 8.4% |
| China Life 2628.HK | $134B | -17% | +38% | 41% | 0.93× | 10.0% |
| PICC Property & Casualty 2328.HK | $48.9B | +16% | +9% | 17% | 1.09× | 5.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1339.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | +3.5% | 5th lowest of 21 |
| 6-month return | -1.6% | +15.5% | 4th lowest of 21 |
| Return on equity | 18.1% | 16.3% | 7th highest of 21 |
| Price / book | 0.60× | 1.78× | cheapest of 21 |
| Trailing P/E | 3.9× | 12.2× | cheapest of 21 |
| ROE the price implies | 5.6% | 10.9% | 2nd least demanding of 21 |
| ROE delivered | 18.1% | 16.3% | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| People's Insurance Co. (Group) of China 1339.HK | Hong Kong | $46.1B | -2% | +11% | 18% | 0.60× | 5.6% | 18.1% |
| Ms&ad Ins Gp Hldgs 8725.T | Japan | $44.4B | +22% | +21% | 17% | 1.07× | 6.9% | 16.6% |
| China Pacific Insurance (Group) 601601.SS | China | $42.6B | -14% | +4% | 14% | 0.93× | 8.2% | 14.4% |
| Swiss Re SREN.SW | Switzerland | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% | 20.4% |
| Power Corporation of Canada POW.TO | Canada | $40.7B | +16% | +10% | 11% | 2.42× | 15.9% | 11.0% |
| American International AIG | United States | $40.7B | +2% | +1% | 8% | 1.04× | 7.5% | 8.2% |
| Sun Life Financial SLF.TO | Canada | $40.1B | +7% | -1% | 13% | 2.38× | 13.7% | 13.5% |
| Sompo 8630.T | Japan | $39.6B | +17% | +41% | 15% | 1.14× | 6.2% | 14.6% |
| Great-West Lifeco GWO.TO | Canada | $57.4B | +18% | +4% | 16% | 3.02× | 15.7% | 16.0% |
| Arch Capital ACGL | United States | $36.6B | +14% | -5% | 19% | 1.58× | 8.3% | 18.7% |
| Aflac AFL | United States | $62.2B | +10% | +14% | 17% | 2.06× | 12.5% | 16.9% |
| MetLife MET | United States | $62.4B | +27% | +9% | 13% | 2.28× | 16.2% | 13.2% |
| Fubon Financial Hldg 2881.TW | Taiwan | $62.7B | +66% | +12% | 16% | 1.66× | 7.4% | 16.0% |
| Allstate ALL | United States | $64.4B | +20% | +6% | 46% | 2.04× | 9.9% | 46.1% |
| Prudential plc Sponsored ADR PUK | United States | $31.7B | -21% | +39% | 19% | 1.56× | 11.4% | 19.2% |
| Prudential 2378.HK | Hong Kong | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% | 19.3% |
| Aviva AV..L | United Kingdom | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% | 6.8% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |
| W. R. Berkley WRB | United States | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% | 19.2% |
| Helvetia Baloise HBAN.SW | Switzerland | $27.0B | +5% | +54% | 4% | 1.80× | 4.8% | 4.0% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |