China Pacific Insurance : THE APPROVAL OF APPOINTMENT QUALIFICATION OF THE BOARD SECRETARY

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CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 02601)

THE APPROVAL OF APPOINTMENT QUALIFICATION OF

THE BOARD SECRETARY

Reference is made to the announcement of China Pacific Insurance (Group) Co., Ltd. (the "Company") dated 30 December 2020 in relation to the change of the board secretary. Mr. SU Shaojun was appointed as board secretary of the Company at the eighth meeting of the ninth session of the board of directors of the Company held on 29 December 2020, which will take into effect upon the approval of his appointment qualification by the China Banking and Insurance Regulatory Commission ("CBIRC") and obtaining the qualification certificate issued by the Shanghai Stock Exchange.

The Company is pleased to announce that the Company has recently received the "Approval of appointment qualification of SU Shaojun of China Pacific Insurance (Group) Co., Ltd." (CBIRC Approval No. [2021] 217) issued by the CBIRC. CBIRC has approved the appointment qualification of Mr. SU as board secretary of the Company. In addition, Mr. Su has obtained the qualification certificate issued by the Shanghai Stock Exchange. The term of office of Mr. SU Shaojun as board secretary of the Company became effective on 23 March 2021 and Mr. MA Xin has ceased to perform the relevant duties of board secretary of the Company. Mr. MA has confirmed that he has no disagreement with the board of directors of the Company and there is no other matter that should be brought to the attention of the shareholders of the Company.

During his term of office as board secretary of the Company, Mr. MA Xin has fulfilled his duties and constantly improved corporate governance mechanisms such as information disclosure, investor relations and the operation of the board of directors, the board of supervisors and the general meetings, and promoted the successful issuance of Global Depositary Receipts (GDR) to realize further improvement on corporate governance level. The Company would like to express its sincere gratitude to Mr. MA Xin for his contribution during his term of office as board secretary of the Company!

The biographical details of Mr. SU Shaojun are set out below:

Mr. SU Shaojun, born in February 1968, currently serves as deputy director on transformation matters of the Company and director of CPIC Capital Company Limited. Previously, he served as assistant general manager and deputy general manager of Underwriting Department, deputy general manager and general manager of Beijing branch, general manager of Development Planning Department, head of the Board office, head of the Board of Supervisors' Office, general manager of Telemarketing Department of CPIC P/C, head of Strategic Research Department of the Company. Mr. Su holds a doctor's degree and a title of senior engineer.

By Order of the Board

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

Hong Kong, 27 March 2021

As at the date of this announcement, the Executive Directors of the Company are Mr. KONG Qingwei and Mr. FU Fan; the Non-executive Directors are Mr. HUANG Dinan, Mr. WANG Tayu, Mr. WU Junhao, Mr. CHEN Ran, Mr. ZHOU Donghui, Ms. LIANG Hong, Ms. LU Qiaoling and Mr. John Robert DACEY; and the Independent Non-executive Directors are Ms. LIU Xiaodan, Mr. CHEN Jizhong, Ms. LAM Tyng Yih, Elizabeth, Mr. WOO Ka Biu, Jackson, and Mr. JIANG Xuping.

* Note: The appointment qualification of Mr. John Robert DACEY is subject to approval by China

Banking and Insurance Regulatory Commission.