REG - China Pacific Insur. - Announcement relating to Premium Income

China Pacific Insurance CoAnnouncement

14/07/2023 09:45

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RNS Number : 0694G  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%
                                                                             Year-on-year change

 CPIC P/C                                         January to June 2023
 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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