Announcement relating to Premium Income

China Pacific Insurance Grp Co. Ltd

14 July 2023

 

14 July 2023

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

(A joint stock company incorporated in the People's Republic of China with limited liability)

Announcement relating to Premium Income

China Pacific Insurance (Group) Co., Ltd. (the "Company" or "CPIC") announces that during the period between 1 January 2023 and 30 June 2023, the accumulated primary insurance premium of China Pacific Life Insurance Co., Ltd. ("CPIC Life"), a subsidiary of the Company, amounted to RMB155.067 billion, representing a year-on-year increase of 4.0% and the accumulated primary insurance premium of China Pacific Property Insurance Co., Ltd. ("CPIC P/C"), a subsidiary of the Company, amounted to RMB104.948 billion, representing a year-on-year increase of 14.3%. The details are set out below:

	Unit: in RMB million
CPIC Life	January to June 2023	Year-on-year change
Individual customers	144,801	5.1%
Agency channel	121,232	3.0%
New policies	19,439	31.9%
Regular premium business	17,832	38.8%
Renewed policies	101,793	-1.1%
Other channels	23,569	17.3%
Group clients	10,266	-9.0%
Accumulated primary insurance premiums	155,067	4.0%
CPIC P/C	January to June 2023	Year-on-year change
Automobile insurance	50,765	5.4%
Non-automobile insurance	54,183	24.1%
Accumulated primary insurance premiums	104,948	14.3%

Note: Due to rounding, there may be slight differences between item aggregates and the totals.

The accumulated primary insurance premiums referred to above are unaudited. Investors are advised to take note. Announcement is hereby given.

Notes:

1. The primary insurance premiums were prepared in accordance with the PRC Accounting Standards for Business Enterprises No. 25 - Original Insurance Contracts (Cai Kuai [2006] No.3) and the Regulations regarding the Accounting Treatment of Insurance Contracts (Cai Kuai [2009] No. 15) of the Ministry of Finance of the People's Republic of China.

2. The accumulated primary insurance premiums of China Pacific Property Insurance Co., Ltd. are the consolidated data including that of China Pacific Anxin Agricultural Insurance Co., Ltd., its subsidiary.

By Order of the Board of Directors

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

About CPIC

CPIC is a joint stock company established under the laws of the People's Republic of China with limited liability.

CPIC's registered office is located at 1 South Zhongshan Road, Huangpu District, Shanghai, the People's Republic of China.

 

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