The People's Insurance Co (Group) of China (HKSE:01339) LT-Debt-to-Total-Asset : 0.03 (As of Mar. 2024)

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What is The People's Insurance Co (Group) of China LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. The People's Insurance Co (Group) of China's long-term debt to total assests ratio for the quarter that ended in Mar. 2024 was 0.03.

The People's Insurance Co (Group) of China's long-term debt to total assets ratio increased from Mar. 2023 (0.00) to Mar. 2024 (0.03). It may suggest that The People's Insurance Co (Group) of China is progressively becoming more dependent on debt to grow their business.

The People's Insurance Co (Group) of China LT-Debt-to-Total-Asset Historical Data

The historical data trend for The People's Insurance Co (Group) of China's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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The People's Insurance Co (Group) of China LT-Debt-to-Total-Asset Chart

The People's Insurance Co (Group) of China Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.05

0.04

0.03

The People's Insurance Co (Group) of China Quarterly Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															-	0.03	0.03	0.03	0.03

The People's Insurance Co (Group) of China LT-Debt-to-Total-Asset Calculation

The People's Insurance Co (Group) of China's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	43172.546	/	1703187.636
	=	0.03

The People's Insurance Co (Group) of China's Long-Term Debt to Total Asset Ratio for the quarter that ended in Mar. 2024 is calculated as

LT Debt to Total Assets (Q: Mar. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Mar. 2024 )	/	Total Assets (Q: Mar. 2024 )
	=	43714.944	/	1710444.662
	=	0.03

The People's Insurance Co (Group) of China (HKSE:01339) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

The People's Insurance Co (Group) of China LT-Debt-to-Total-Asset Related Terms

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The People's Insurance Co (Group) of China (HKSE:01339) Business Description

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Comparable Companies

Traded in Other Exchanges

PINXY:USA PIR:Germany 601319:China

Address

No. 88, West Chang’an Avenue, 1st-13th Floor, Xi Cheng District, Beijing, CHN, 100031

Website

http://www.picc.com.cn

Headquartered in Beijing, PICC Group is the largest state-owned insurance group, holding a 69% stake in PICC P&C, an 80% stake in PICC Life, and a 69% stake in PICC Health Insurance. Its P&C subsidiary is the largest nonlife insurer with about one third of market share in China. Life and health insurance subsidiaries hold about 2.9% and 1.3% share, respectively. The Ministry of Finance is the largest shareholder, with 61% share. China's Social Security Fund is the group's second-largest shareholder holding nearly 13% share.

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