CHINA PACIFIC INSURANCE GR

Overview

China Pacific Insurance (Group) Co., Ltd. (CPIC) is a Shanghai-headquartered Chinese insurance group whose core business spans life and health insurance and property and casualty insurance. Its offerings include health protection, retirement and wealth-management products, alongside P&C coverage; the group also includes agricultural insurance businesses. CPIC traces its origins to China Pacific Insurance Co., founded in 1991, and states its mission as “a responsible insurance company.” [1]+2

The company’s business is centered on China, with Hong Kong insurance subsidiaries also within the group. In H1 2026, CPIC reported RMB212.136 billion in operating income and RMB143.296 billion in insurance revenue; it reported 186.8 million customers and a monthly average of 183,000 agents.[4]+3 [1]+7

Products & services

CPIC Life’s 2025 offerings included participating annuity products for private, third-pillar pensions; new critical-illness and medical products; and whole-life participating products. New-policy annuity written premiums were RMB43.042 billion, while new health-insurance written premiums were RMB13.845 billion. Participating business accounted for 50.0% of new regular written premiums.[6]

Pacific Health’s named products and services include Lan Yi Bao, a product matrix focused on healthcare, medications and services; Shen Ai Bao, which includes protection tailored to breast-cancer recurrence; and corporate health solution Qi An Xin. Its Yi Pei Tong service combines online medical consultation with offline provider referrals. In 2026, it launched Zhi Zun Quan Qiu, described as mid-to-high-end medical insurance, and Quan Jia Bao, household medical insurance for the mass market.[7]+2

Property and casualty offerings span health, liability, agricultural and commercial property insurance. In 2025, these lines generated primary premium income of RMB20.298 billion, RMB23.075 billion, RMB19.939 billion and RMB7.962 billion, respectively; these figures are line premiums, not percentages of group performance.[10] Specialty capabilities reported in 2026 included cover for more than 3.34 million new-energy vehicles, catastrophe products including index-based cover with total sums assured exceeding RMB800 billion, green-energy project cover, ecological carbon-sink insurance and wildlife public-liability cover. CPIC also reported issuing China’s first CCER forestry carbon-sink insurance policy in Zhangjiakou in June 2026.[11] [6]+5

Geographic presence

China Pacific Insurance Group’s main operating footprint is mainland China. Its 2026 interim report also lists insurance and investment-management subsidiaries operating in Hong Kong; it describes CPIC Hong Kong as a platform for connecting mainland and overseas development. The group identifies Southeast Asia as a focus for expanding its global-market presence, but does not specify country-level operations there.[12][13]

CPIC Property says it has a presence across mainland China’s provincial-level regions, supported by 40 branches and more than 3,200 lower-level offices and service outlets. These figures describe the property insurer’s network, not the group as a whole.[14]

The 2026 interim report’s subsidiary listings include entities in mainland locations such as Beijing, Qingdao, Xiamen, Zhengzhou, Guangzhou and Wuhan, as well as Hong Kong and British Virgin Islands entities. The latter are listed-entity locations and do not by themselves indicate insurance operations in those jurisdictions. The group reports financial segments by business line rather than geography; the cited disclosures do not provide geographic revenue or employee distributions.[15]+4 [12]+6

Business segments

CPIC reports three principal operating segments: life and health insurance, property and casualty (P&C) insurance, and asset management, alongside “Others and eliminations.” Life and health covers life, health and accident insurance; P&C covers property and casualty insurance; and asset management comprises the Group’s asset-management businesses.[19]+2

In FY2025, life and health generated RMB89,367 million of insurance revenue (30.9% of the consolidated total) and RMB49,620 million of operating profit (75.0%). P&C generated RMB200,058 million of insurance revenue (69.2%) and RMB12,723 million of operating profit (19.2%). Asset management reported no insurance revenue and RMB2,601 million of operating profit (3.9%); others and eliminations contributed negative RMB515 million of insurance revenue and RMB1,230 million of operating profit.[22]

For the six months ended 30 June 2026, life and health accounted for 31.5% of insurance revenue and 71.8% of operating profit; P&C accounted for 68.7% and 21.8%, respectively. Asset management accounted for 3.2% of operating profit, while others and eliminations represented negative 0.2% of insurance revenue and 3.2% of operating profit. CPIC also reports that more than 99% of Group revenue and assets relate to Mainland China, without presenting a comparable multi-region segment breakdown.[23][24] [19]+5

Company history

China Pacific Insurance traces its origins to China Pacific Insurance Company, founded in Shanghai on 13 May 1991. In 2001, it was reorganized as China Pacific Insurance (Group) Co., Ltd., with separate life and property-insurance subsidiaries.[25][26]

The group listed on the Shanghai Stock Exchange in December 2007 and on the Hong Kong Stock Exchange in December 2009.[27][25] In 2017, its life-insurance subsidiary acquired a controlling stake in Changjiang Pension, expanding the group’s pension business.[28] In 2020, the company’s global depositary receipts began trading on the London Stock Exchange.[29] [28]+4

Sources

• CHINA PACIFIC INSURANCE GR — Full financial report (2025 Y)
  9 citations

  [1][2][6][7][8][19][20][21][22]
• en.cpic.com.cn[3]
• CHINA PACIFIC INSURANCE GR — Full financial report (2026 H 1)
  12 citations

  [4][5][9][11][12][13][15][16][17][18][23][24]
• CHINA PACIFIC INSURANCE GR — Presentation (2025 Y)[10]
• property.cpic.com.cn[14]
• www.cpic.com.cn[25]
• en.cpic.com.cn[26]
• www.cpic.com.cn[27]
• CHINA PACIFIC INSURANCE GR — Full financial report (2017 Y)[28]
• CHINA PACIFIC INSURANCE GR — Full financial report (2020 Y)[29]