CPIC Life (HK) Launches the "CPIC Elite Club" to Build Core Competitiveness of "CPIC Services"

HONG KONG,Jan. 3,2023 -- It marked the first anniversary of China Pacific Life Insurance (H.K.)Company Limited (the "Company";"CPIC Life (HK)"),a subsidiary of China Pacific Insurance (Group) Co.,Ltd.(the "Group";601601.SH; 02601.HK; CPIC.LSE)recently. On this occasion,CPIC Life (HK) officially launched the "CPIC Elite Club",which opens a brand new window to enhance customer satisfaction and effectively expand the brand awareness of "CPIC Services".

Continuing to improve customer service and optimise the service experience in a comprehensive manner

In recent years,CPIC has been building an insurance service ecosystem by gradually improving its basic and value-added service experience based on the diversified needs of its clients for products and services. CPIC Life (HK)'s launch of the "CPIC Elite Club" is a vivid reflection of the Company's performance of the "Responsible,Smart and Caring" "CPIC Services".

Established and managed by CPIC Life (HK),the "CPIC Elite Club" is a membership-based club that brings a wide range of services to the "CPIC Elite Club" members based on the integration of CPIC's resources,to help the clients achieve more sophisticated health care,wealth management and retirement planning.

It is understood that theindividual policy applicants can apply for the membership of the "CPIC Elite Club" when they purchase insurance policies under an insurance product of CPIC Life (HK),or apply for the membership after already holding an in-force policy. The Membership is based on a points system. For every US$1 of "Total premium payable" (Annual premium payment * Years of payment),a member can receive 1 "CPIC Elite Club" point if the insurance product of CPIC Life (HK) under which such member purchases an insurance policy is a product which is eligible for earning points. Based on the number of points earned,the members of the "CPIC Elite Club" can enjoy corresponding benefits,the designated members can also apply for the occupancy qualifications of "Pacific Care Homes" through the program of "Pacific Care Home Hong Kong Residents Sharing",enjoying high-quality pension and health services. "Pacific Care Homes" is invested and operated by CPIC Senior Living Investment,aiming to provide excellent retirement and senior care communities and supporting services.

The launch of the "CPIC Elite Club" will further improve CPIC Life (HK)'s service offerings and strengthen the connection with its clients,bringing a better insurance experience to the users and enhancing the competitiveness of the Company's brand.

Actively pursuing the five strategies to drive the quality development of the Group

As an important step in CPIC's overseas expansion,the establishment of CPIC Life (HK) has laid a solid foundation for CPIC to realise its internationalisation and participate in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and for driving its own quality development.

In the first year since its establishment,led by the five strategies - "Greater Bay Area Strategy","Localization Strategy","Internationalisation Strategy","Big Health and Big Retirement Strategy" and "Innovation and Technology Empowering Strategy",CPIC Life (HK) provides its clients with a full range of quality products and services,striving to become the best life insurance company in Hong Kong in terms of customer experience.

In terms of regional development,CPIC continues to promote its strategic deployment in the Greater Bay Area,collaborating with resources from both the Mainland and Hong Kong to innovate and upgrade its products and services,and build a diversified service system for health care,retirement and wealth management. For example,CPIC has established a Greater Bay Area headquarters building in Guangzhou and a technology innovation centre in Shenzhen,expecting that the clients of the Group can enjoy such resources and innovative services in several cities in the Greater Bay Area.

Looking ahead,with the accelerated development of the integration of the Guangdong-Hong Kong-Macao Greater Bay Area,there will be abundant market demand produced for complementary insurance products and services. CPIC will continue to implement the Greater Bay Area Strategy,with the vision of becoming the "leadership in healthy and steady development of the insurance industry" "being the best in customer experience,business quality and risk control capabilities",and together with CPIC Life (HK),seize the opportunities brought by the construction of the Greater Bay Area to help the Group move further and further along the path of quality transformation and development.

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About China Pacific Life Insurance (Hong Kong) Company Limited

China Pacific Life Insurance (H.K.) Company Limited （"CPIC Life (HK)"）isa wholly-owned subsidiary of China Pacific Life Insurance Company Limited ("CPIC Life") which is a subsidiary of China Pacific Insurance (Group) Co.,Ltd. ( "CPIC"). CPIC is one of the top three life insurance companies in China (in terms of total gross premium in 2021). CPIC Life Hong Kong was authorized by the Hong Kong Insurance Regulatory Authority to operate long-term insurance business in Hong Kong on November 18,2021.It is committed to providing customers with comprehensive life insurance and wealth management products to meet the clients' needs at different stages of life. It aims to become one of Hong Kong life insurance companies with the best client experience.

For further information,please contact:

China Pacific Life Insurance (H.K.) Company Limited

Strategic Planning Department

Sandy Ip

Tel：+8522213-9032