People Insurance of China : ANNOUNCEMENT IN RELATION TO PREMIUMS INCOME

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

(Stock Code: 1339)

ANNOUNCEMENT IN RELATION TO PREMIUMS INCOME

The aggregate premiums income of The People's Insurance Company (Group) of China Limited (the "Company") as derived from our operating subsidiaries PICC Property and Casualty Company Limited ("PICC P&C"), PICC Life Insurance Company Limited ("PICC Life") and PICC Health Insurance Company Limited ("PICC Health") for the period from 1 January 2021 to 31 March 2021 were RMB135,552million, RMB50,660million and RMB17,190million, respectively.

The classification breakdown of the original premiums income of PICC P&C during the above- mentioned period is as follows:

Unit: in RMB million, except for percentages

	January to
	March 2021	(% of change)
Motor vehicle insurance	57,503	-6.7%
Accidental injury and health insurance	43,646	25.4%
Agricultural insurance	12,196	24.9%
Liability insurance	9,784	19.1%
Commercial property insurance	5,266	8.4%
Credit insurance	490	-80.4%
Cargo insurance	1,257	21.0%
Other P&C insurance	5,410	12.6%
Total	135,552	6.2%

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The classification breakdown of the original premiums income of PICC Life during the above- mentioned period is as follows:

Unit: in RMB million, except for percentages

	January to
	March 2021	(% of change)
First-year business of long-term insurance	21,527	-17.6%
Single premiums	8,868	-38.1%
First-year regular premiums	12,659	7.3%
Renewal business	28,078	6.1%
Short-term insurance	1,055	6.4%
Total	50,660	-5.4%

The classification breakdown of the original premiums income of PICC Health during the above- mentioned period is as follows:

Unit: in RMB million, except for percentages

	January to
	March 2021	(% of change)
First-year business of long-term insurance	7,040	94.1%
Single premiums	5,122	313.1%
First-year regular premiums	1,918	-19.6%
Renewal business	3,585	78.9%
Short-term insurance	6,565	-5.1%
Total	17,190	37.0%

The above information is prepared pursuant to the PRC Accounting Standards for Business Enterprises, investors are advised to take note that the information has not been audited and has not been reviewed by the Audit Committee of the Company.

By Order of the Board

The People's Insurance Company (Group) of China Limited

Luo Xi

Chairman

Beijing, the PRC, April 13 2021

As at the date of this announcement, the executive directors of the Company are Mr. Luo Xi, Mr. Wang Tingke, Mr. Xie Yiqun and Mr. Li Zhuyong; the non-executive directors are Mr. Wang Qingjian, Mr. Miao Fusheng, Mr. Wang Shaoqun, Ms. Cheng Yuqin and Mr. Wang Zhibin; and the independent non-executive directors are Mr. Shiu Sin Por, Mr. Ko Wing Man, Mr. Lin Yixiang and Mr. Chen Wuzhao.

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