Citi has released a research report indicating that PING AN (02318) is scheduled to announce its first-half results on August 20. The firm anticipates the life insurance business's new business value will increase by 10.5% year-on-year, with first-year premiums expected to surge 30% over the same period.

Citi estimates that PING AN's life insurance contractual service margin balance will grow by 1.2% half-on-half to 733.5 billion RMB, while life insurance operating profit is projected to rise 2% year-on-year to 55.5 billion RMB. The property and casualty insurance combined ratio is expected to see a slight improvement to 95.1%.

The group's operating profit is forecast to grow 7.8% year-on-year, driven by stable expansion in core businesses and a robust recovery in asset management operations. The interim dividend is predicted to increase by 7% from the previous corresponding period.

Net profit for the first half is expected to climb 29% year-on-year, with the book value expanding by 3% compared to the second half of last year.