16 January 2025
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") today announces that, for the period between 1 January 2024 and 31 December 2024, the accumulated primary premium income of China Pacific Life Insurance Co., Ltd. ("CPIC Life"), a subsidiary of the Company, amounted to RMB238.823 billion, representing a year-on-year increase of 2.4% and the accumulated primary premium income of China Pacific Property Insurance Co., Ltd. ("CPIC P/C"), a subsidiary of the Company, amounted to RMB203.249 billion, representing a year-on-year increase of 6.8%. The details are set out below:
Unit: in RMB million
| CPIC Life | January to December 2024 | Year-on-year change |
| Accumulated primary premium income | 238,823 | 2.4% |
| Agency channel | 184,117 | 1.7% |
| New policies | 31,623 | 9.1% |
| Regular premium business | 28,727 | 9.8% |
| Renewed policies | 152,494 | 0.3% |
| Bancassurance channel | 39,805 | 9.8% |
| New policies | 27,020 | -14.2% |
| Renewed policies | 12,785 | 168.3% |
| Group channel | 13,121 | -10.4% |
| New policies | 11,324 | -18.2% |
| Renewed policies | 1,797 | 123.2% |
| Other channels | 1,780 | 51.6% |
Unit: in RMB million
| CPIC P/C | January to December 2024 | Year-on-year change |
| Accumulated primary premium income | 203,249 | 6.8% |
| Automobile insurance | 107,302 | 3.7% |
| Non-automobile insurance | 95,947 | 10.5% |
Note: Due to rounding, there may be slight differences between item aggregates and the totals.
The accumulated primary premium income referred to above is unaudited. Investors are advised to take note. Announcement is hereby given.
Notes:
1. The primary premium income was 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 premium income of China Pacific Property Insurance Co., Ltd. is the consolidated data including that of Pacific Anxin Agricultural Insurance Co., Ltd., its subsidiary.
By Order of the Board of Directors
China Pacific Insurance (Group) Co., Ltd.
FU Fan
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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