China Pacific Insurance

China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as "Pacific Insurance") is an insurance group company established on May 13, 1991, based on China Pacific Insurance Company. Headquartered in Shanghai, it is the first "A+H" share listed comprehensive insurance group in China. With the vision of being "a first-class insurance financial services group by your side," Pacific Insurance adheres to the business philosophy of "customer demand-oriented, focusing on the main insurance business, and promoting and achieving sustainable value growth." Following the industry development law of "insurance must be insurance," the company continuously deepens, strengthens, and consolidates its practices, becoming a comprehensive insurance group with strong capital, robust value creation, strong risk control capabilities, and a high level of professionalism. Pacific Insurance has achieved sustained value growth and increasing strength, and has been listed in the Fortune Global 500 for seven consecutive years. In 2016, it achieved operating revenue of 267.014 billion yuan, of which main insurance business income was 234.018 billion yuan, net profit of 12.057 billion yuan, total assets exceeded one trillion yuan for the first time, reaching 1.02 trillion yuan, and effective customers reached 104 million. The company has a solid financial foundation, with the group's comprehensive solvency adequacy ratio under C-ROSS at 294%. Pacific Insurance focuses on the main insurance business and continuously enriches its business scope along the insurance industry chain. Currently, it has achieved a full layout of insurance licenses including life insurance, property insurance, pension insurance, health insurance, agricultural insurance, and asset management, with each business segment achieving shared development. Focusing on customer needs, the company promotes a strategic transformation oriented toward customer demand. After the implementation of 18 transformation projects, the values and methodology of "customer demand orientation" have been internalized into the company's genetic code. Focusing on value growth: life insurance business pursues high-quality new business value growth, property insurance business insists on underwriting profitability, and asset management business achieves investment returns that consistently exceed liability costs. Pacific Insurance continuously optimizes its group management structure, fully integrates internal resources, strengthens communication with the capital market, and has formed a relatively complete, mutually balancing, and coordinated corporate governance system. The board of directors is committed to the continuous improvement of governance structures and mechanisms, having built a relatively comprehensive governance system and actively promoted and achieved subsidiary governance plans under the group's integrated management framework. With the mission of "being a responsible insurance company" and the core values of "integrity in the world, stability in life, and pursuit of excellence," Pacific Insurance integrates corporate social responsibility into its business model, creating shared value for clients, shareholders, employees, industry, society, environment, and other stakeholders. The company has won the "Outstanding Enterprise Award" on China's Corporate Social Responsibility List for seven consecutive years. 2018 marks the beginning of a new three-year plan for Pacific Insurance. The company will launch and implement the "Digital Pacific" strategy, actively fulfilling the mission of "innovating digital experiences, optimizing digital supply, and sharing digital ecosystem," continuously enhancing corporate value, and better rewarding shareholders, customers, and society.