On July 23,China People's Insurance Group(China People's Insurance) Held the 2020 half-year work conference in Beijing. Information from the conference showed that China People's Insurance Company adheres to both epidemic prevention and control and central work to improve both speed and quality of development.
In the first half of the year, China People's Insurance Group achieved premium income of 335.15 billion yuan. The premium growth rate has been rising month by month since March, reversing the negative growth situation caused by the epidemic at the beginning of the year. The total profit of the Group maintained double-digit growth. The comprehensive cost ratio of the People's Insurance Insurance Company was lower than that of the industry, and underwriting profit grew relatively rapidly; the net profit of the People's Insurance Life Insurance reached a record high for the same period; the profit trend of the People's Insurance Health continued to consolidate; and the return on investment business was stable. The Group's total assets have been growing steadily, and the scale of assets managed by the investment sector has also increased.
At the same time, China People's Insurance is speeding up the “3411 Project” and promoting business model changes. The new IT architecture has been implemented at an accelerated pace, and the level of online integration has been steadily improved. More than 3/4 of China's self-insurance customers have completed online migration, the online claim rate for self-insurance customers has reached 91.3%, and the online security rate for People's Insurance and Life Insurance has reached 82.8%. Integrated construction continues to deepen. In the first half of the year, the Group's business collaborated to achieve large-scale premiums close to 9 billion yuan. The international insurance business covers 122 countries and regions, involving 88 “Belt and Road” countries.
In the first half of the year, China People's Insurance actively served the epidemic prevention and control and supported the resumption of work and production. The total amount of donated insurance coverage was 732.68 billion yuan, and compensation for underwriting customers, including frontline healthcare workers, exceeded 30 million yuan; the establishment of a COVID-19 rehabilitation sequelae support fund totaling 30 million yuan was initiated. Innovative insurance products support enterprises to resume work and resume production. Emergency relief insurance for public health emergencies has covered 26 million people, and 17,000 enterprises are covered by comprehensive insurance to resume work and resume production. Increase the supply of insurance funds to reduce the burden of “blood transfusions” on the real economy. It invested 12.23 billion yuan in key enterprises in Hubei Province. Implement stable production and supply requirements and optimize the supply of agricultural insurance. In the first half of the year, 62.2 million (secondary) farmers were provided with 1.6 trillion yuan in agricultural risk protection. At the same time, make every effort to fight poverty.
Wang Tingke, president of China People's Insurance Company, analyzed the complex development environment currently faced. In response to the work for the second half of the year, he emphasized the need to stick to the goals and tasks set at the beginning of the year unwavering, adhere to the general tone of stability and progress, and stick to the “3411 Project” of unwavering transformation to high-quality development, while seeking new opportunities, opening up a new situation, promoting innovation, and promoting transformation in development methods, making every effort to ensure high-quality completion of all goals and tasks throughout the year.