中国太保2023中期业绩推介材料-29页_2mb

Comprehensive Summary of China Pacific Insurance 2023 Mid-Year Performance

The China Pacific Insurance Group (2023 mid-year) report highlights strong financial and operational performance, showcasing resilience amid economic recovery. The company emphasizes adherence to insurance fundamentals and strategic transformations.

Key Financial Highlights:

• Insurance service revenue increased by 74% year-over-year to 1340.64 billion yuan.
• Group net profit after tax grew by 25% to 183.32 billion yuan.
• Group gross premium volume reached significant milestones, with life and property insurance sectors driving growth.
• The Group Contingent Value Obligation (CVO) increased by 34%, indicating robust capital adequacy.

Strategic Initiatives:

• Life insurance operations, under the "长航" transformation, achieved balanced growth with expanded premium scales and higher new business values. Core agent force development contributed to a 25% increase in annualized premium per core agent.
• Property insurance demonstrated improved underwriting efficiency, with a premium growth strategy focusing on vehicle and non-life segments, including innovations like carbon-reduction insurance.
• Asset management showed sustainable growth, with total managed assets rising by 69%. Investment strategies adapted to market conditions, achieving moderate returns while maintaining low credit risk.

Digitization and Customer Focus:

• Digital transformation initiatives, such as AI-driven auditing and RPA applications, enhanced operational efficiency.
• The "大健康" and "大区域" strategies led to new service offerings, including unified healthcare and long-term care solutions, expanding market reach in key regions like the大湾区.

Looking Ahead:

• The outlook is optimistic, with plans to accelerate high-quality development, leverage technology for innovation, and respond to evolving customer needs through ecosystem building.
• Forward-looking statements note variability due to external factors, stressing cautious interpretation of projections.

Overall, China Pacific Insurance maintains a strong position in the insurance sector, supported by disciplined management and strategic adaptation. The company aims to lead in sustainable growth and value creation.