CPIC Celebrates 30th Anniversary Practicing "long-termism" to Build Green Development

HONG KONG, May 16, 2021 /PRNewswire/ -- On 13 May 2021, China Pacific Insurance (Group) Co., Ltd. (the "CPIC", the "Company" or the "Group"; Stock code: 2601.HK, 601601.SH, CPIC.LSE) marks its 30th Anniversary. 

Since its establishment in 1991 in Shanghai, CPIC has always been practicing the belief of "long-termism" and adhering to high-quality development. By sticking to the right development direction, the Group pressed on with its business transformation, thus delivering a stable growth in its performance. CPIC has been listed on Fortune Global 500 for 10 consecutive years, ranking 5th among the World's 100 Most Valuable Insurance Brands. In 2020, CPIC completed the issuance of Global Depositary Receipts (GDR) and got listed in the London Stock Exchange, which made it the first insurance company listed in three capital markets of Shanghai, Hong Kong and London, and also the first insurance company that issued GDR on LSE.

While dedicating to the stable development of its diversified business, CPIC also integrates the ESG philosophies into its business operations. An ESG summit was jointly held by CPIC and Swiss Re in March this year. In this summit, CPIC announced to integrate the ESG concepts into its daily operations. In April, CPIC once again co-hosted an ESG-themed summit with Shanghai United Assets and Equity Exchange (SUAEE) and UBS to make efforts to build a new model of insurance industry that supports green and low-carbon development. In order to improve the efficiency of ESG management, the top-level design of ESG field was successfully completed at the Board Meeting of CPIC in March earlier, setting a formal goal to carbon neutrality. CPIC will actively promote green investment on the asset end, while continuously strengthening the development and innovation of sustainable insurance products on the liability end.

CPIC innovated the mode of responsible investment with insurance characteristics, and provided financial support for economic transformation through diversified projects such as environmental protection, renewable energy, energy conservation, resettlement of shanty town, and new infrastructure. In addition to direct participation in the investment and construction of green projects, the company made indirect investments, especially via green bond, thereby injecting impetus into the development of green finance. As of the end of 2020, CPIC invested RMB39.751 billion in renewable energy, RMB13.7 billion in water conservation and RMB864 million in environment protection.

In the future, CPIC will continue to promote the diversified and stable development by focusing on three major areas. Firstly, the Group will continue to deepen its efforts in the health-related business development. Through the establishment of the medical big data platform, the Group will be able to accelerate the construction of a comprehensive and full-coverage insurance service value chain that integrates health services with its core insurance business. Moreover, the regional development will be one of the development focuses. The Group strives to improve customer experience standard in the Yangtze River Delta, while strengthening innovation and leadership in the Guangdong-Hong Kong-Macao Greater Bay Area and activating the coordinated development for the Beijing-Tianjin-Hebei Region, Chengdu-Chongqing Zone, and Yangtze River Economic Belt. In addition, with the technological empowerment strategy, the Group will achieve three major breakthroughs in scientific and technological efficiency, data services and innovation mechanisms, focusing on the implement of five technological capabilities including governance and control, research and development, data services, platform collaboration, and innovation and transformation, to achieve high-quality development.

Mr. KONG Qingwei, Chairman of CPIC, said at the Group's 30-year Work Summary and Development Conference: "This year marks the 30th anniversary of CPIC, and the spirit of youth will never end. Stepping into its 30s, CPIC takes green development as its goal, and reform and innovation as its driving force. Looking ahead, CPIC will continue to focus on rural revitalization, low-carbon economy, pension services, health management, thereby giving a full play of the advantages of its insurance funds. By taking an active part in the construction of the country's great cause development and people's livelihood, CPIC will stimulate its own new momentum to move towards the next wonderful thirty years."

About China Pacific Insurance (Group) Co., Ltd
China Pacific Insurance (Group) Co. Ltd. (hereinafter referred to as "CPIC", or the "Company"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance holding company incorporated on the basis of China Pacific Insurance Company, which was established on May 13, 1991. It is a leading insurance group headquartered in Shanghai, which is the first insurance group simultaneously listed on Shanghai, Hong Kong and London Stock Exchanges. CPIC is a leading comprehensive insurance group; the Company provides a broad range of risk solutions, financial planning and asset management services to over 100 million customers via its nationwide network of distribution and diversified services platforms.

Media Contact: Sun Zhishan, (852)3641-1313

SOURCE China Pacific Insurance (Group) Co., Ltd.