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 30 April 2021 were RMB169,361 million, RMB53,955 million and RMB19,192 million, 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
	April 2021	(% of change)
Motor vehicle insurance	77,786	-8.5
Accidental injury and health insurance	48,689	23.1
Agricultural insurance	15,293	18.9
Liability insurance	12,379	14.8
Commercial property insurance	6,449	6.0
Credit insurance	633	-80.4
Cargo insurance	1,630	19.9
Other P&C insurance	6,502	12.0
Total	169,361	2.8

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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
	April 2021	(% of change)
First-year business of long-term insurance	22,625	-20.1
Single premiums	9,537	-38.4
First-year regular premiums	13,088	1.8
Renewal business	30,088	6.1
Short-term insurance	1,242	-2.7
Total	53,955	-6.9

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
	April 2021	(% of change)
First-year business of long-term insurance	7,408	39.5
Single premiums	5,131	138.7
First-year regular premiums	2,277	-28.0
Renewal business	4,484	88.7
Short-term insurance	7,300	-3.7
Total	19,192	25.7

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, 14 May 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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