China Pacific Insurance (Group) Co., Ltd. (CPIC) released its 2025 solvency report, showing a solid improvement in capital adequacy and continued profit growth across core subsidiaries.
Group solvency position • Comprehensive solvency margin ratio rose to 273%, up 17 percentage points from end-2024. • Core solvency margin ratio increased to 206%, 24 percentage points higher year on year. • Actual capital expanded to RMB 596.65 billion, a rise of RMB 92.90 billion. • Minimum capital climbed to RMB 218.44 billion, up RMB 21.31 billion.
Key operating subsidiaries 1) CPIC Life • Primary premium income reached RMB 258.12 billion, +8.10% YoY. • Net profit grew 17.50% to RMB 42.10 billion. • Comprehensive solvency margin ratio improved to 228% (↑18 ppt).
2) CPIC Property & Casualty • Primary premium income held at RMB 201.50 billion, +0.10% YoY. • Net profit increased 33.70% to RMB 9.86 billion. • Comprehensive solvency margin ratio advanced to 244% (↑22 ppt).
3) CPIC Health • Insurance revenue rose 39.70% to RMB 3.68 billion. • Net profit surged 185.70% to RMB 0.26 billion. • Comprehensive solvency margin ratio eased to 218% (↓17 ppt) amid higher minimum capital requirements.
Asset-management and pension operations • CPIC Asset Management reported third-party assets under management of RMB 245.40 billion. • Changjiang Pension oversaw RMB 576.79 billion in trustee assets and RMB 476.87 billion in investment mandates.
Risk management and governance The Board confirmed full compliance with regulatory standards, noting no material risk events during the year. CPIC continues to reinforce enterprise-wide risk controls, prioritising asset-liability matching, concentration limits, and risk contagion safeguards.
Shareholding highlights Total share capital remained at 9.62 billion shares, split 71.15% A shares and 28.85% H shares. HKSCC Nominees Limited held 28.82%, while Shanghai-based state-owned entities collectively accounted for c.30% of A-share ownership.
Outlook Management will maintain a “prudent” risk appetite amid volatile capital markets and evolving regulatory demands, aiming to sustain adequate solvency, stable profitability and long-term value growth.