The net profit attributable to owners of the People's Insurance Company of China (HKG:1339, SHA:601319) or PICC climbed 43% year on year to 12.8 billion yuan or 0.29 yuan per share in the first quarter, according to a Hong Kong Stock Exchange filing on Wednesday.
The attributable profit in the same quarter a year ago was 8.96 billion yuan or 0.20 yuan per share.
The Chinese insurer's first-quarter total operating income rose 13% to 156.6 billion yuan from 138.8 billion yuan in the previous year, the filing said.
The company's Hong Kong shares rose over 2% in recent trade.
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