October 7, 2022

Investor’s NewsletterSept. 23, 2022
vol. No.10 in 2022
CPICSH601601, HK02601, LSE CPIC
Stock Data (ending Aug. 31, 2022)
Total equity base (in million)
9,620
A-share
6,845
H-share
2,775
Total Cap (in RMB million)
184,129
A-share
143,541
H-share (in HKD million)
46,236
6-month highest/lowest
A-share (in RMB)
25.52/19.18
H-share (in HKD)
20.66/15.54
GDR (in USD)
19.66/14.10
IR Calendar
Investor Relations Department
Tel: 021-58767282
Fax: 021-68870791
E-MAIL: [email protected]
Add: 15F, 1 Zhongshan Rd. S.
Shanghai, P.R. China, 200010
Contact: GONG Zheng
Tel:021-33968661
E-MAIL:[email protected]cn
Disclaimer:
China Pacific Insurance Company (the “Company”) abides by the disclosure obligations by securities regulators and stock exchanges in accordance with the law. The newsletter is for information purpose only and do not constitute investment suggestion in any circumstances. The Company nor has any liability for any loss howsoever arising from any information contained in the newsletter.
All copyrights are reserved by the Company. The newsletter belongs to non-public information. Without written authorization by the Company, none part of the newsletter could be copied or substituted to others in any circumstance
Contents
Regulator highlights requirements for high-quality development
CBIRC enhances information disclosure of life/health insurance products
Regulator releases industry statistics
Group Chairman wins Award of China’s Outstanding Entrepreneurs
CPIC rated A in SSE information disclosure assessment for 9 years on end
CPIC listed among Forbes China ESG 50 for 2020
Summary of Q & A session of 2022 Interim Results Announcement
Premium Income (Unit: in RMB million)
Jan.- Aug.
Changes
Aug.
Changes
P&C
117,986
12.18%
12,959
13.13%
Life
172,956
3.95%
13,361
-11.67%
CPIC Investor’s Newsletter
1/12
Regulatory Updates
products
In early August, CBIRC issued the Exposure Draft of Administrative Regulations on Information Disclosure of Life/health Insurance Products for public comments. Insurance companies shall bear the primary responsibility of information disclosure of insurance products, such as product terms and clauses, premium rates, cash value and other information pertaining to consumer interests, so as to meet the needs of insurance applicants, the insured, insurance beneficiaries and the wider public. The document designates China Insurance Association and China Banking and Insurance Information Technology Company as the official platforms for such information disclosure.
Industry Info
On August 19, CBIRC released industry statistics on its official website. As of the end of Q2, 2022, total assets of insurance companies amounted to 26.6 trillion yuan, up by 1.8 trillion yuan, or 7.0%, from the year beginning. Total primary premiums in the first half of the year reached 2.8 trillion yuan, a year-on-year growth of 5.1%, with claims and benefit payments totalling
776.8 billion yuan, up by 3.1%, and an addition of 24.2 billion new insurance policies in 1H 2022, up by 9.5%.
CPIC Investor’s Newsletter
2/12
Company News
Entrepreneur
On September 16, CPIC Group Chairman Kong Qingwei was awarded China’s Outstanding Entrepreneur for 2021-2022 during the Annual Meeting of Chinese Entrepreneurs. The biennial award was granted by China Enterprise Confederation and China Enterprise Directors Association. Under Kong Qingwei’s leadership since 2017, CPIC Group persisted in the principle of progressive development on the basis of stable management. The company carried out strategic transformation, enhanced customer services, and recorded significant results in business scale, competitiveness and profitability.
years on end
Recently, Shanghai Stock Exchange circulated results of Rating of Information Disclosure of Listed Companies for 2021-2022, and CPIC was rated A. 164 companies won the A rating for 3 years on end, accounting for only 10% of the 1,642 listed firms involved. The Exchange has been conducting the assessment for 9 years. Criteria for A rating include compliance and effectiveness in information disclosure, focus on core business, stable business operation, sound governance, and industry leadership. Those rated A for 2021-2022 are mostly champions of industry and industry segments with sound business operation. They voluntarily disclosed more information which helps investors make decisions, and carried out value management through innovative formats of annual reports, separate disclosure of ESG reports, or by hosting on-line results meetings.
On August 23, CPIC was included in the first China ESG 50 released by Forbes. The ranking complies with UN ESG framework and principles, and selected 50 Chinese firms from the 2022 Forbes Global 2000 (which looks at revenue, earning, assets and market capitalization) leading in ESG, covering industries such as financial services, energy, construction & engineering, real estate, internet, and electronic equipment.
CPIC has signed into PSI, PRI and GIP, which serve as guidelines for its green insurance, green investment and green operation, to contribute to green and low-carbon transitioning of China.
Special Report
Announcement
On August 29, CPIC hosted 2022 Interim Results Announcement. Below is
CPIC Investor’s Newsletter
3/12
the summary of the Q & A session.
1.Q: China’s insurance market is now undergoing profound transformation. What is management view on the medium- and long-term outlook for the sector? What strategies do you have? How do you plan to foster new growth engines?
CPIC Investor’s Newsletter
4/12
Healthy China, Green Transitioning and integrated development initiatives of key regions will inject new vitality into China’s insurance market. According to reports by authoritative market research outfits, China’s protection gap is still huge in medical cost reimbursement, critical illness income compensation, as well as wealth management and retirement products and services, which means there is still big potential in China’s insurance penetration and density.
In short, customer demand remains intact; it’s only that insurance companies need to improve their supply to match changing customer needs. In the face of a changing environment, CPIC took the initiative and initiated the supply-side reform to drive for a shift towards the customer-centric operational model.
We launched the Changhang Transformation on the life insurance side seeking to restructure the agency force and meet customer needs in health & protection, pension and wealth management. Meanwhile, we accelerated deployment in health care and retirement, extended the insurance value chain, innovated health solutions and rolled out retirement communities, so as to diversify our product and service offerings. Our P/C insurance focuses on systematic capacity-building while seizing opportunities in emerging business like NEV auto insurance, sustainable insurance and agricultural insurance. In asset management, we strive to optimise ALM mechanism, and enhance capabilities in asset allocation across economic cycles, in a bid to better support liabilities.
2.Q: Could management give us an update of your deployment in health care and retirement? What is your competitive edge on this front when compared with banks or other insurance companies? What is your plan for next stage?
CPIC Investor’s Newsletter
5/12
Attachments
Disclaimer
China Pacific Insurance (Group) Co. Ltd. published this content on 23 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2022 07:48:53 UTC.
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