Centre on Customer Needs CPIC's 31st Anniversary Board of Directors Leads Quality Development

HONG KONG,May 13,2022 -- As a social "stabilizer" and an economic "booster",insurance institutions have always played an important role. On May 13,on the occasion of the 31st anniversary of the establishment of China Pacific Insurance (Group) Co.,Ltd. ("CPIC" or the "Company"; Stock Code: 2601.HK,601601.SH,CPIC.LSE),in order to express his affirmation of the services of CPIC Insurance,Mr. Guo Wenrong,a customer of the Yunnan Life Insurance branch of CPIC,recently realized the dream of double climbing Mount Everest on the north and south slopes,and put the blue flag of CPIC on the top of the snow-capped mountain. He said: "As a regular customer for more than ten years,I strongly agree with CPIC's responsible,intelligent and warm service,and I want to introduce it to more people."

Established on May 13,1991,CPIC is a leading comprehensive insurance group in China.In June 2020,CPIC successfully issued GDRs on the London Stock Exchange,becoming the first insurance company listed in Shanghai,Hong Kong and London.It is understood that CPIC has a full range of insurance licenses,including life insurance,property insurance,pension insurance,health insurance,agricultural insurance and asset management,and provides a full range of risk protection solutions,wealth planning and asset management services with a centre on customer needs.

In the past 31 years since its establishment,CPIC has always grasped the main line of quality development,focused on key areas and segments,and achieved a stable and progressive business situation.In 2021,the Company's revenue reached RMB440.643 billion,a 4.4% year-on-year increase,and its profitability has continued to improve,in terms of service level,it has provided 168 million customers with high-quality services with CPIC characteristics,which are deeply recognized by customers. At the same time,the company has been included in the Fortune Magazine Global 500 for 11 consecutive years,moreover,CPIC won the 158th in 2021 and ranked 5th in Brand Finance's Top 100 Most Valuable Insurance Brands in the World.

With the influence of factors such as the decline of demographic dividends and the evolution of customer demand,the insurance industry is facing many demands for transformation and reshaping the industry's value chain has become a common issue for insurers.In this regard,Mr. Kong Qingwei,Chairman of the Board of Directors,said: "The past five years have been a period of great changes in the market,five years of reform and innovation in deep water,and five years of healthy development for the Company.With the continuous improvement of customer demand,higher requirements have also been placed on insurance companies.In this regard,CPIC will maintain its long-term philosophy and focus on its main insurance business. At the same time,we will accelerate the deployment of our insurance value chain in the areas of pensions,health and technology to meet the different needs of our customers.

In addition,Mr. Kong Qingwei emphasized that ESG is a strategic choice for a country and an important step in building a community with a shared future for mankind.CPIC pays attention to the development and construction of ESG,and has established an ESG committee and an ESG office.The company also promotes the idea of starting small and reinforcing the concept of green within the company.The giant ship CPIC is riding the wind and waves in the wave of industry change,attributing to the leadership of the Board of Directors.

The foresight and correct decision-making of the Board of Directors have also been highly recognized by professionals. On November 30,2021,the 9th Board of Directors of CPIC won the "2021 Listed Company Board of Directors Award" in the "2021 Outstanding Board of Directors Award",and Chairman Mr. Kong Qingwei won the "2021 Listed Company Executive Director Award". This fully shows that the CPIC Board of Directors has performed well in terms of specialization,diversification and balance,and this award is well deserved.

CPIC has entered its "thirty years" that is striding forward on the road of high-quality development,and has launched products such as "Jia An Xin" to meet the needs of customers. In the future,under the leadership of the high-level management team,CPIC will continue to uphold its long-term philosophy,actively play its social responsibility as an insurance company,focus on customers,take transformation as an opportunity to seek development opportunities with a long-term vision,bring more excellent insurance experience to customers,and help the industry continue to develop healthily.

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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,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.

This press release is distributed by Wonderful Sky Financial Group for China Pacific Insurance (Group) Co. Ltd.

For further information,please contact:

Wonderful Sky Financial Group Holdings Limited

Ms. Aileen Wang/ Cecilia Xiong / Millie Guo

Tel:(852) 3970 2226/(852) 3641 1300 / 15513707989

Fax: (852) 3102 0210

Email: CPIC@wsfg.hk