China Pacific Insurance's performance is expected to grow steadily by 2025

(Source: Guanchao Finance)

Yesterday, China Pacific Insurance (601601.SH 2601.HK CPIC.LSE) announced its performance for the year 2025. Over the past year, China Pacific Insurance has maintained strategic focus, actively responded to changes in internal and external conditions, adhered to the value line, comprehensively deepened reforms, accelerated long-term capability building, and achieved steady operational results.

In 2025, China Pacific Insurance Group achieved total operating revenue of 435.156 billion yuan, a year-on-year increase of 7.7%, with insurance service revenue of 288.910 billion yuan, up 3.4% year-on-year; the group’s net profit attributable to the parent company was 53.505 billion yuan, a year-on-year increase of 19.0%; the group’s operating profit attributable to the parent company was 36.523 billion yuan, a year-on-year increase of 6.1%, with revenue and profit levels maintaining steady growth. By the end of 2025, the group’s embedded value was 613.365 billion yuan, an increase of 9.1% from the end of the previous year; the group’s net assets attributable to the parent company were 302.143 billion yuan, an increase of 3.7% from the end of the previous year; the group’s managed asset scale was 3.89 trillion yuan, an increase of 9.8% from the end of the previous year, with overall comprehensive strength steadily improving.

Deepening transformation, core business development improves

China Pacific Insurance’s life insurance business adheres to the main line of value growth, promoting the upgrade of multi-channel models. The value of new business reached 18.609 billion yuan, a year-on-year increase of 40.1%; the new business value rate was 19.8%, an increase of 3.2 percentage points year-on-year. The agent channel deepened the professionalization, specialization, and digitalization of its workforce, further enhancing core human productivity, with steady growth in value contributions from bank insurance channels and group government channels. The business adopted a layered customer management approach, continuously optimizing product structure, with the proportion of participating insurance in new policy premium payments now exceeding half, maintaining good business quality. China Pacific Insurance’s property insurance business prioritizes profitability, continuously optimizing business structure, with underwriting profitability significantly improving and premium income remaining stable. The auto insurance business continues to enhance management precision, strengthening channel specialization, with operational resilience continuously increasing; non-auto insurance actively reduces high-risk, low-profit businesses, comprehensively promoting the integrated risk reduction management system of “prevention, reduction, and compensation.” On the investment side, China Pacific Insurance focuses on building cross-market and cross-cycle asset allocation capabilities, seizing capital market opportunities, with the group’s comprehensive investment return rate on investment assets continuing to maintain a good level, providing strong support for the group’s profit realization.

Proactive engagement, serving the broader agenda

China Pacific Insurance is solidly implementing the “five major articles” of finance, promoting deep integration and positive interaction between insurance and economic and social development. In the realm of fintech, it supports the development of new productive forces, establishing a comprehensive insurance product system like “worry-free sci-tech,” with insurance coverage amounts exceeding 67 trillion yuan in sci-tech insurance and over 130 billion yuan in sci-tech investments. In green finance, it aids the green transformation of the economy and society, with green insurance coverage exceeding 310 trillion yuan; actively issuing green bonds, ABS, and REITs, with green investment exceeding 300 billion yuan. In inclusive finance, critical illness, long-term care, and inclusive insurance services cover over 500 million people across 262 cities, providing agricultural insurance risk protection of about 1.3 trillion yuan for over 17 million farming households, benefiting nearly 6 million households. In elder financial services, it enriches health and wellness service offerings, with “Taibao Home” established in 13 cities and 15 parks, serving over 3,000 residents; “Yuan Shen Rehabilitation” hospitals opened in Xiamen and Jinan, covering over 12 million customers cumulatively; innovations such as the Shanghai Lingang New Area corporate annuity plan and the automatic enrollment mechanism for corporate annuities in Xiong’an New Area have been orderly implemented. In digital finance, it continues to build insurance large model foundations and computational power platforms, deepening intelligent operations in life insurance client management, marketing team empowerment, property insurance risk reduction services, health insurance claims, and other business scenarios, effectively enhancing operational efficiency and effectiveness.

Simultaneous establishment and breaking, innovation strides become stronger

Serving Chinese car companies “going global,” China Pacific Insurance has provided coverage for over 20,000 Chinese-exported new energy vehicles in Thailand, becoming the first successful case of a domestic insurance company in the internationalization of new energy vehicle insurance services. It launched the “Taibao Youhu 2.0” digital empowerment plan, embedding AI in fund calculations and disability assessments, driving efficiency, accuracy, and risk control capabilities to new levels. It successfully launched a 30 billion yuan strategic new merger fund and a 20 billion yuan private securities fund, injecting financial vitality into the real economy. The reform of the supervisory board was completed smoothly, improving the director performance guarantee mechanism, with corporate governance effectiveness continuously enhancing. Innovative capital operations included the premium issuance of zero-coupon H-shares convertible bonds, setting multiple historical records and successfully attracting numerous international long-term investors to participate, providing strong support for future core business development and strategic advancement. The ESG governance system was improved, with the group’s five-year carbon reduction target published, deepening the capacity building of climate risk quantitative management, and MSCI ESG rating upgraded to the highest AAA level, reaching an internationally leading position.

The year 2025 marks the closing year of the “14th Five-Year Plan.” Over the past five years, facing multiple challenges both internally and externally, China Pacific Insurance has consistently maintained confidence and determination, unwaveringly deepening transformation and reform, responding to environmental uncertainties with its own development certainties, and continuously advancing the company along the path of high-quality development. By the end of 2025, the group’s managed asset scale approached 3.9 trillion yuan, with embedded value cumulatively increased by over 33% over five years, and cumulative total profit exceeding 220 billion yuan. The total number of group customers steadily increased to nearly 190 million, with the number of customers holding two or more policies and the average number of policies per customer achieving double-digit growth, further enhancing customer value and stickiness.

A new starting point nurtures new opportunities, and a new journey calls for new actions. Looking towards the “15th Five-Year Plan,” China Pacific Insurance has established the vision goal of building “a first-class insurance financial service group with market leadership and international competitiveness,” and will continue to deepen reform efforts, strive for excellence, actively create a new situation for high-quality development, and work hard to provide shareholders with continuous, stable investment returns.

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