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SHANGHAI - China Pacific Insurance (Group) Co., Ltd. (CPIC) reported Tuesday that its life insurance subsidiary recorded premium income of RMB168.009 billion for the first half of 2025, representing a 9.7% year-on-year increase.
According to a company press release, China Pacific Life Insurance (NSE:LIFI) Co., Ltd. saw significant growth in its bancassurance channel, which surged 74.6% compared to the same period last year. New policies through this channel increased by 90.2% to RMB25.287 billion.
However, the company’s traditionally strong agency channel experienced a 2.5% decline in premium income, with new policies dropping 20% year-on-year. Regular premium business through this channel decreased by 22.6%.
Meanwhile, China Pacific Property Insurance Co., Ltd., another CPIC subsidiary, reported more modest growth with premium income of RMB113.999 billion, up 0.9% from the previous year. The property insurer’s automobile insurance segment grew 2.8%, while non-automobile insurance declined slightly by 0.8%.
The group channel for CPIC Life showed an 8.6% increase in premium income, with renewed policies in this segment growing by 26.3%.
The company noted that the premium income figures are unaudited and were prepared in accordance with PRC Accounting Standards for Business Enterprises.
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