PICC Property and Casualty : ANNOUNCEMENT IN RELATION TO PREMIUM INCOME

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

(Stock Code: 2328)

ANNOUNCEMENT IN RELATION TO PREMIUM INCOME

PICC Property and Casualty Company Limited (the "Company") announces the original insurance premium income of the Company for the period from 1 January 2020 to 31 August

2020 as below：

	Original insurance	Year-on-year
	premium income	change
	RMB Million	%
Motor vehicle insurance	175,380	5.1
Accidental injury and health insurance	54,228	18.8
Agriculture insurance	29,669	15.4
Liability insurance	19,905	3.8
Commercial property insurance	11,029	0.3
Credit and surety insurance	5,194	-67.0
Cargo insurance	2,608	-4.5
Other insurance	9,605	3.9
Total	307,618	3.9

The above information is prepared pursuant to the PRC Accounting Standards for Business Enterprises and is unaudited and has not been reviewed by the Audit Committee of the Company. Investors should exercise caution not to unduly rely on such information.

By Order of the Board

PICC Property and Casualty Company Limited

Zou Zhihong

Secretary of the Board

Beijing, the PRC, 11 September 2020

As at the date of this announcement, the Vice Chairman is Mr. Xie Yiqun (executive director), the non-executive director is Mr. Li Tao, Mr. Jiang Caishi and Ms. Xie Xiaoyu are executive directors, and the independent non-executive directors are Mr. Lin Hanchuan, Mr. Lo Chung Hing, Mr. Ma Yusheng, Mr. Chu Bende and Ms. Qu Xiaohui.