China Pacific Insurance (Group) Co.Ltd(601601) 2021 performance release 202203.28
Forward looking statement n this material prepared by China The Pacific Securities Co.Ltd(601099) insurance (Group) Co., Ltd. ("the company") is for reference only, does not constitute or form part of, and should not be construed as presenting or inviting the sale or offering of securities of the company or any holding company or any of its subsidiaries in any jurisdiction, Or solicit an offer or invitation to purchase or subscribe for the above securities. The content of this material or the fact of its distribution shall not be used as the basis for entering into any contract or making any commitment, or rely on it. N the information contained in this material has not been independently verified. No representation or warranty is made, express or implied, as to whether the information or opinions contained in this material are fair, accurate, complete or correct, and should not be relied upon. The information and opinions contained in this material are up to the date of roadshow promotion, and the company can make any changes to this material without further notice; For any changes that may occur after the roadshow promotion date, the company will not update or otherwise revise this material in the future to reflect any latest development of the above changes. The company and its affiliated companies or any director, senior management, employee, consultant or representative shall not be liable for any loss arising from any information contained or presented in this material or from other reasons. N this material contains a number of statements to reflect the company's current views and expectations on future prospects as of the individual dates shown therein. These forward-looking statements are based on a number of assumptions about the operation of the company and factors beyond the control of the company, which may be affected by huge risks and uncertainties. Therefore, the actual results may be significantly different from these forward-looking statements, and you should not rely too much on the contents of the forward-looking statements. The company has no obligation to update or otherwise revise these forward-looking statements for new information, events or circumstances that occur after such date.
overview
2021 is a landmark year. The international political and economic pattern is becoming more and more complex and severe. The changes of the century and the epidemic situation of the century are intertwined and superimposed. China has embarked on a new journey of development in the 14th five year plan, and its economy and society are generally stable and good. The reform of the insurance industry has entered a critical period, and the value chain is facing a difficult reconstruction process. In the face of various uncertainties in the development environment, we have always grasped the main line of high-quality development, focused on key areas and key links, unswervingly deepened the transformation, stabilized the performance base, opened a new track, and formed a new business situation with both "stability" and "progress".
The group's overall operating performance grew steadily
The group's operating income and net profit attributable to the parent group have an embedded value of 440643 billion yuan, 26.834 billion yuan and 498309 billion yuan + 4.4% + 9.2% + 8.5%
The number of group customers notes the group's assets under management and the group's comprehensive solvency adequacy ratio is 168.39 million, 260537 billion yuan 266%
+19.45 million + 6.8% - 22pt
Note: the data at the end of last year have been restated.
Join hands with high-quality medical resources to build a professional health insurance company under the internet medical group, successfully completed the treatment platform, successfully released the first equity change of health service products, and is taking a new exploration step around the health insurance professional brand "Taiyi housekeeper". At present, it has 400 camps
Human offline full-time medical team
Healthy pension
The establishment of a large health industry investment fund has made key progress in the construction of inspection and elderly care communities. The "Taibao inspection and testing, medical equipment, digital medicine and medical home" elderly care communities have implemented 10 projects in key areas such as medical services in 9 regions across the country, with a total of more than 12000 beds
The energy level of "Taibao service" was further improved
Premium rate of old life insurance customers under the "service officer" system
8.7% + 2.7pt from group headquarters to China branch
800 service officials, the number of customers with insurance amount of one million and above of third-party liability insurance is too 21.99 million + 28.2%
Number of policies per customer serving individual customers of national strategic Insurance Group
2.28 pieces of Expo services + 7.0% for four consecutive years
The cumulative total insured amount is 2.6 trillion yuan. The number of individual customers with two or more insurance policies is 32.57 million + 2.9% in the strategic customer circle of friends
Number of individual customers with policies of multiple subsidiaries included in collaborative services 591 strategic customers 10.32 million + 0.8%
Steady progress in science and technology empowerment
The relocation of Luojing data center has been completed, the China Pacific Insurance (Group) Co.Ltd(601601) cloud has entered a large-scale data governance system and initially formed. The three major production stages of Shanghai and Chengdu have been established, which has steadily promoted the application of big data and data benchmarking, and the operation mode of the four data centers has achieved initial results for the construction of several large and medium-sized platforms such as artificial intelligence and the Internet of things, The independent business core system provides hardware cloud computing services of "100 million digital applications, comprehensive upgrading of R & D capability, continuous improvement of users and second response"
brace
Technology empowerment
Asset management of property insurance and life insurance
Analysis of remote double recording intelligent investment and research of "black light factory" cloud exhibition industry in February 2022, Taibao Technology Co., Ltd. was officially established
Market oriented operation and capacity building of science and Technology Specialty
Start a new journey of sustainable development
Integrate ESG concept into company management and build ESG top-level design and governance structure.
As the final decision-making body of ESG management, the board of directors sets up the "strategy and investment decision and ESG committee" to play a core role in ESG management
Sign the United Nations principles of sustainable insurance (UN psi) and sign as both asset owner and investment manager
United Nations principles for Responsible Investment (UN PRI)
Environmental social corporate governance
N implemented the second phase of the "three rivers source public welfare forest project", n comprehensively upgraded the "poverty prevention and insurance", which has been extended to the composition of N board of directors, further moved towards diversified construction of member industrial forests and partners, planted more than 1000 counties and regions, and provided assistance to the modernization, internationalization and specialization of the country. 1500 mu of external directors, 400000 people living in poverty and vulnerable to poverty, accounting for 87%, The proportion of female directors is 27%. N underwrites Yunnan wildlife liability insurance. Taibao n establishes Taibao blue foundation, which is the first n comprehensive risk management and control foundation in the industry. The property insurance Yunnan branch has become the foundation of the United Nations biological community to promote financial intelligence and risk control intelligence, and the foundation of the 15th Conference of the parties to the Convention on diversity, We launched an optimized risk and compliance internal control system to care for the elderly with amnesia, and formulated the implementation and undertaking measures of the new three-year public welfare action policy of the new and only insurance partner
Performance analysis
The group's embedded value grew steadily (1 / 2)
Group embedded value composition of embedded value as at 31 December 2021
(unit: RMB million) (unit: RMB million)
+8.5% 227624 (12,861) (3,667) 498309 287213
459320 498309
December 31, 2020 December 31, 2021 the group's adjusted net life insurance cost before the cost of holding required capital and holding required capital attributable to minority shareholders of Taitai group's embedded value asset value is effective business of life insurance
Effective business value
The group's embedded value grew steadily (2 / 2)
Changes in embedded value in 2021
(unit: RMB million)
13,412 (1,535) (4,918) 3,361 1,387 2,475 (12,506) 6,059 498309 31,253
459320
2020 embedded value one year Xinye investment income and operation assessed method / dispersion 1) market value shareholder dividend other differences in the expected return value of the group at the end of 2021 empirical difference hypothesis / model
