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

China Pacific Insurance CoAnnouncement

16/01/2024 09:45

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RNS Number : 8577Z  China Pacific Insurance Grp Co. Ltd  16 January 2024

16 January 2024

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 2023 and 31 December 2023,
the accumulated primary insurance premiums of China Pacific Life Insurance
Co., Ltd.("CPIC Life"), a subsidiary of the Company, amounted to RMB233.141
billion, representing a year-on-year increase of 4.9% and the accumulated
primary insurance premiums of China Pacific Property Insurance Co., Ltd.("CPIC
P/C"), a subsidiary of the Company, amounted to RMB190.327 billion,
representing a year-on-year increase of 11.4%. The details are set out below:

 

 Unit: in RMB million
 CPIC Life                                           January to December 2023  Year-on-year change
 Individual customers                                221,122                   6.0%
     Agency channel                                  179,319                   3.1%
         New policies                                29,602                    29.0%
             Regular premium business                26,689                    35.0%
         Renewed policies                            149,717                   -0.8%
     Other channels                                  41,803                    20.5%
 Group clients                                       12,019                    -12.7%
 Accumulated primary insurance premiums              233,141                   4.9%

 

 CPIC P/C                                January to December 2023  Year-on-year change
 Automobile insurance                    103,514                   5.6%
 Non-automobile insurance                86,813                    19.2%
 Accumulated primary insurance premiums  190,327                   11.4%

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 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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