On October 28, a financial frontline report announced that China Pacific Insurance (Group) Co., Ltd. (CPIC) held its third-quarter 2026 results briefing today. Zhao Yonggang, Deputy Secretary of the Party Committee, Executive Director and President of the Group, as well as Chairman of CPIC Life, presented the company's performance for the first three quarters of this year.
He stated that since the beginning of this year, in the face of changes in the macroeconomic environment and multiple disturbances in the capital market, the company has continued to deepen high-quality development and strengthen payment coordination. During the first three quarters, operating results remained stable, demonstrating development resilience.
From the perspective of core business segments, CPIC Life adhered to the main line of value growth, and core operating results remained stable. In the first three quarters, it achieved scale premiums of 267.651 billion yuan, a year-on-year increase of 1.4%. New business value was 14.351 billion yuan, a year-on-year decrease of 6.5%.
He further elaborated by channel, noting that the agent channel maintained steady value growth, while the bancassurance channel faced pressure on value growth due to factors such as the high base in the same period last year, phased changes in product structure, and shifts in the market environment.
Specifically, the agent channel anchored its goals of stable growth and team optimization, focused on customer tiering and classification, optimized the supply of full-product offerings, matched customers' diversified needs, and maintained an overall stable development trajectory.
Regarding the bancassurance channel, the company adhered to a value-driven bancassurance strategy, strengthened long-term capability building across areas including channel cooperation, customer management, product and service systems, team development, and digital empowerment. It built differentiated competitive advantages and enhanced sustainable growth momentum. In the first three quarters, the company further deepened strategic channel cooperation, matched targeted products and services around strategic cooperation needs, continuously improved the structural resilience of the channel, and achieved scale premiums of 62.425 billion yuan, a year-on-year increase of 7.1%.
From the perspective of the group insurance channel, the company adhered to an operating strategy of leveraging strengths, addressing shortcomings, and integrating long-term and short-term business. It continuously explored new models of direct-domain services and actively practiced inclusive finance. In the first three quarters, it achieved scale premiums of 16.338 billion yuan, a year-on-year increase of 0.3%. Among these, the value-domain business achieved light insurance regular premium scale premiums of 1.143 billion yuan, a year-on-year increase of 14.4%. The inclusive coverage reached more than 280 million person-times.
Comments