Net Profit Increases 221% on Broad Segment Growth
China Taiping (00966.HK) reported a 220.9% year-on-year increase in net profit for 2025, which reached RMB27.059 billion. This substantial growth was fueled by improved insurance service performance, higher net investment income, and a one-time benefit from new corporate tax policies. The company's insurance service revenue grew by a steady 9% to RMB24 billion, with earnings per share reaching RMB7.251.
Reflecting this strong performance, the company declared a final dividend of RMB1.23 per share. This represents a more than threefold increase from the RMB0.35 dividend paid in the prior year, signaling strong confidence from management in the company's financial stability and future earnings potential.
Life Insurance Profit Climbs 229% to RMB34.6B
The primary engine of the insurer's profitability was its life insurance business, which saw profits climb 229.2% to RMB34.586 billion. Other divisions also posted solid gains, with the domestic property insurance business profit increasing 20.1% to RMB966 million and the reinsurance unit's profit growing 34.1% to RMB1.284 billion. This broad-based strength demonstrates effective execution across all core operations.
The company's investment portfolio also contributed positively, with annual net investment income rising 5.2% to RMB52.972 billion. A notable component of this was a 29.4% increase in dividend income to HKD6.945 billion, which the company attributed to a strategic allocation to high-dividend stocks.
Ratings Agency Affirms 'A' Grade for Macau Unit
The group's underlying financial health is further underscored by external validation. On March 19, 2026, ratings agency AM Best affirmed its 'A (Excellent)' Financial Strength Rating for China Taiping Insurance (Macau) Company Limited (CTIM), a key subsidiary. The agency cited the unit's "very strong" balance sheet and "strong" operating performance.
CTIM has maintained a five-year average return-on-equity ratio of 17.8% from 2021 to 2025 and holds a dominant 34% market share in Macau's non-life insurance segment as of 2025. This consistent performance at the subsidiary level reinforces the narrative of robust group-wide operational strength and disciplined risk management.
