At the 2025 annual general meeting of shareholders held today, China Pacific Insurance (Group) Co., Ltd. (CPIC) Chairman Fu Fan, along with President Zhao Yonggang, Vice President Su Gang, Board Secretary Su Shaojun, and Human Resources Director Wang Mingchao, were in attendance.
Fu Fan stated that China's insurance sector is at a critical juncture where strategic opportunities coexist with risk challenges. On the macro-policy front, the nation has prioritized advancing the "five key areas of finance" and supporting the development of new quality productive forces as core strategic tasks. Regarding market demand, industrial structure upgrades and demographic shifts are generating new needs for risk protection and financial services. In terms of technological transformation, the accelerated evolution of artificial intelligence presents new strategic opportunities for the industry. Concurrently, within the current interest rate environment, the established profit models of insurance companies are facing challenges, industry competition is shifting from a focus on incremental growth to stock-based competition, and the urgency for high-quality development has become more pronounced.
Strategic Focus for the Coming Years
Looking ahead to the next three years, Fu Fan outlined that CPIC will continue to adhere to the overarching principle of "seeking progress while maintaining stability, and improving quality and efficiency." The company will focus on implementing three core strategies: "Big Healthcare and Elderly Care," "Internationalization," and "AI+."
Key Management Initiatives
In terms of business management, he indicated that CPIC will prioritize three major initiatives.
The first is to fully serve the national development agenda by excelling in the "five key areas of finance." This involves promoting financial technology innovation, focusing on key links in scientific and technological innovation, and aligning green finance closely with the "dual carbon" goals. The company will deepen its efforts in inclusive insurance and pension finance, and accelerate the large-scale application of AI technology in core business operations.
The second initiative is dedicated to forging a competitive edge in its main lines of business. The life insurance segment will persist with a value-growth orientation, deepening channel transformation and customer management. The property and casualty insurance segment will concentrate on underwriting profitability, optimizing its business mix, and strengthening risk mitigation and precise pricing. The investment division will refine the asset-liability linkage mechanism, improve its strategic asset allocation system for navigating cycles, execute disciplined yet flexible tactical asset allocation, and build a more scientific and robust investment portfolio to drive long-term value growth.
The third initiative involves steadily advancing the three core strategies. The healthcare and elderly care strategy aims to build a comprehensive service chain covering "prevention, diagnosis, treatment, nursing, and recuperation," propelling the rapid development of health insurance and pension finance businesses. For the internationalization strategy, Hong Kong will serve as a bridgehead for cross-border connectivity, establishing a synergistic development model between domestic and overseas markets. Regarding the AI+ strategy, the focus is on building an enterprise-level AI capability system and promoting the large-scale application of AI technology. Furthermore, the company will continuously enhance its corporate governance framework, strengthen the compliance and risk control system, and solidify the foundation for high-quality development. Looking forward, the company remains firmly committed to focusing on its core responsibilities and main businesses, striving to enhance core functions and improve core competitiveness to create sustainable value returns for shareholders.