China Pacific Insurance (Group) Co., Ltd. (CPIC) recently released its Q1 2025 report, showing insurance service revenue of RMB 69.55 billion, a year-on-year increase of 3.9%. Among the segments, CPIC Life achieved insurance service revenue of RMB 20.98 billion, up 0.6% YoY, while CPIC P&C reported RMB 47.74 billion, a 4.8% YoY growth. The Group’s net profit reached RMB 29.63 billion, with insurance remaining the core driver for leading insurers this quarter.
In Q1 2025, CPIC Life recorded gross premiums of RMB 118.42 billion, an 11.8% YoY increase. New business value rose 11.3% YoY to RMB 5.78 billion (39.0% under comparable). Product structure optimization was evident, with participating policies accounting for 18.2% of new premiums, up 16.1 percentage points YoY. The bancassurance channel performed strongly, with gross premiums surging 107.8% YoY to RMB 25.72 billion, including new regular-premium policies at RMB 4.51 billion (+86.1% YoY). Group insurance premiums grew 8.9% YoY to RMB 9.42 billion, supported bymarketing initiatives. CPIC P&C maintained stable growth, withinsurance premiums rising 1.0% YoY to RMB 63.11 billion. Auto insurance premiums increased 1.3% to RMB 26.83 billion, while non-auto insurance edged up 0.7% to RMB 36.28 billion. Insurance servicereached RMB 47.74 billion (+4.8% YoY). Asset management, CPIC’s investment assets grew 2.8% from year-end 2024 to RMB 2.81 trillion. Net investment yield stood at 0.8%, with total investment yield at 1.0%. The company emphasized disciplined tactical asset allocation amid volatile A and bond markets, focusing on long-term fixed-income assets and high-dividend equities for returns.The market involves risks, and investments should be made with caution.
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