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.