Core Viewpoint - China Pacific Insurance (Group) Co., Ltd. has appointed Yu Bin as the chairman of Pacific Insurance, with Chen Hui as the new general manager, establishing a leadership team focused on enhancing operational efficiency and embracing new opportunities in technology and sustainable development [2][3]. Management Changes - Yu Bin, born in August 1969, has nearly 30 years of experience in the core business of Pacific Insurance, having held various key positions that provide him with a comprehensive understanding of the insurance industry [3]. - The management structure has been adjusted to include a team led by General Manager Chen Hui, with a clear hierarchy of roles to support the company's strategic goals [4][5]. Business Performance - In 2024, Pacific Insurance achieved original insurance premium income of 201.24 billion yuan, a year-on-year increase of 6.8%, and a net profit of 7.38 billion yuan, up 12.2% [6]. - For Q1 2025, the company reported original insurance premium income of 63.11 billion yuan, a 1.0% increase, with a comprehensive cost ratio improving to 97.4%, down 0.6 percentage points year-on-year [6]. Strategic Focus - The company is focusing on three major strategies: "Great Health and Elderly Care," "AI+," and "Internationalization," aiming to enhance its core competitiveness and support national strategies [8][9]. - The "AI+" strategy emphasizes the integration of technology into core business operations, aiming to improve operational efficiency and explore new business models [8]. Future Outlook - The company plans to deepen its digital transformation and optimize its business structure while addressing challenges such as rising comprehensive cost ratios due to natural disasters and high-risk business segments [7][9]. - The leadership is committed to high-quality development and enhancing service capabilities to better support the economy and society [9].

Core Viewpoint - China Pacific Insurance (China Taibao) is actively implementing the new "National Ten Articles" policy to enhance insurance service quality and efficiency, focusing on supporting national strategies and the real economy [5][6]. Group 1: Company Strategy and Development - The company aims to improve its core competitiveness and effectively mitigate operational risks by optimizing product structure and establishing a liability cost constraint mechanism [5][6]. - China Taibao plans to focus on three core strategies: "Great Health and Elderly Care," "Artificial Intelligence Plus," and "Internationalization" to further enhance high-quality development [6]. Group 2: Financial Performance and Outlook - In the first quarter, the company reported a stable performance with a 11.3% year-on-year growth in new business value for life insurance, and a 0.6 percentage point improvement in the combined cost ratio for property insurance [7]. - The company acknowledges the dual nature of opportunities and challenges in the current macroeconomic environment, emphasizing the importance of maintaining strategic focus and high-quality development [7].

战略布局：聚焦三大核心战略 聚焦"大康养""人工智能+""国际化"三大核心战略，全力推进股票投资试点落地实施……6月11日下午，中 国太保2024年度股东大会在上海召开。会议现场，公司管理层围绕公司布局、险资入市、投资布局、市值 管理等市场关心的热点进行了回应。 中国太保管理层在会上表示，当前市场环境下，利率中枢持续下行，保险资金配置压力较大，加大权益配置成 为必然之举。"近年来中国经济结构转型持续推进，传统产业持续升级改造，战略性新兴产业持续发展，中国 资产估值与发达国家市场相比处于相对低位，我们始终相信中国经济长期向好的基本面没有改变，中国资本市 场长期向好的基础十分稳固。" 具体而言，公司将通过实施"大康养"战略，完善产业布局，构建养老金融、商业健康险和康复医疗、机构养 老、居家照护等全周期服务链，推动康养服务与保险主业协同共生，打造大保险生态。通过实施"人工智能 +"战略，加大AI对公司经营的全面赋能，全面提升创新驱动力和运营效能，同时探索开拓AI领域风险减量管 理市场，培育打造新的业务增长极。通过实施"国际化"战略，紧跟中国企业出海步伐提升服务能级，稳步推进 海外服务网络建设、跨境保险合作、国际化人 ...

Core Viewpoint - The insurance industry is shifting from scale expansion to value creation, with China Pacific Insurance (Group) Co., Ltd. undergoing significant management changes and reforms, raising concerns about its effectiveness and future prospects [1][3]. Financial Performance - In 2024, China Pacific Insurance achieved total revenue of 404.09 billion yuan, a year-on-year increase of 24.7%, with net profit attributable to shareholders reaching 44.96 billion yuan, up 64.9% [1][3]. - The group's investment return rate was 5.6%, reflecting a strategic focus on long-term macro trends and disciplined asset allocation [4][11]. Business Segments - For life insurance, the embedded value reached 421.84 billion yuan, a 4.9% increase year-on-year, with new business value growing by 20.9% to 13.26 billion yuan [3][4]. - In property insurance, the combined ratio was 98.6%, up 0.9 percentage points, attributed to increased natural disasters and significant claims [4][3]. Management Changes - The company has experienced frequent changes in its core management team, with new leadership emphasizing long-term development and strategic priorities focused on customer value [14][15]. - The new management team aims to implement a three-year high-quality development plan, prioritizing customer-centric strategies [3][15]. Strategic Initiatives - China Pacific Insurance plans to deepen its transformation through three main strategies: "Great Health," "Artificial Intelligence +," and "Internationalization," focusing on comprehensive health management and enhancing technological capabilities [15][3].