本报记者 陈晶晶 北京报道 近日，中国再保险（01508.HK）披露2024年业绩数据显示，2024年，公司合并总保费收入1784.83亿 元，同比增长0.9%；合并保险服务收入1013.63亿元，同比增长1.6%；归属于母公司股东净利润105.57 亿元，同比增长86.8%。2024年，公司总投资收益173.89亿元，同比增长86.9%；总投资收益率4.83%， 同比增加2.06个百分点。 对于盈利增长原因，中国再保险在年报中称："承保、投资两端均衡发力，实现承保业绩持续改善、投 资收益同比增长。" 《中国经营报》记者注意到，中国再保险2024年境内7家子公司和海外6家经营平台全部实现盈利。其中 财产再保险业务作为中国再保险的重要板块，涵盖境内、境外以及桥社等多个业务方向，贡献了近一半 的净利润。 中国再保险总裁庄乾志在业绩发布会上表示，2024年是中国再保险"蓄势发力期"的收官之年，2025— 2027年是"发展突破期"，将着力实现创新转型，以更大力度突破发展瓶颈，实现软硬实力双提升。 各板块业务实现承保盈利 作为中国再保险旗下唯一的财险直保公司，2024年，大地保险净利润14.75亿元，同比增长292. ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 China Reinsurance (Group) Corporation 本集團於2023年1月1日起實施《國際財務報告準則第17號 －保險合同》（「新保險 合同準則」）和《國際財務報告準則第9號 － 金融工具》（「新金融工具準則」）（統稱 「新準則」）。 1 財務報表及主要附註 合併利潤表 截至2024年12月31日止年度 （除另有列明外，金額均以人民幣千元列示） | | 附註 | 2024年 | 2023年 | | --- | --- | --- | --- | | 營業收入 | | | | | 保險服務收入 | 4 | 101,363,282 | 99,755,335 | | 利息收入 | 5 | 9,234,723 | 9,129,703 | | 投資收益╱（損失） | 6 | 6,831,989 | (1,280,368) | | 匯兌損益淨額 | | (341,763) | 673,591 ...

( 於中華人民共和國註冊成立的股份有限公司) 股 份 代 號： 1508 二O二 四 年中期報告 專 業 讓保險更保險 EMPOWER YOUR INSURANCE BY EXPERTISE 目錄 業績摘要 2 管理層討論與分析 3 其他資料 49 內含價值 54 中期財務資料的審閱報告 60 財務報表及附註 61 釋義 117 公司資料 120 1 中國再保險（集團）股份有限公司 2024 年中期報告 業績摘要 單位：人民幣百萬元，百分比及另有標注除外 本集團於2023年1月1日起實施《國際財務報告準則第17號－保險合同》（「新保險合同準則」）和《國際財務報 告準則第9號－金融工具》（「新金融工具準則」）（統稱「新準則」）。本集團對金融資產採用分類重疊法列報上 年同期數據。 | --- | --- | --- | --- | |------------------------------------------|----------------------|-----------------------|----------| | | 2024 年 \n6 月 30 日 | 2023 年 \n12 月 31 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 China Reinsurance (Group) Corporation 中國再保險（集團）股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1508） 截 至 2024 年 6 月 3 0 日止六個月之 未經審計中期業績公告 中國再保險（集團）股份有限公司董事會謹此宣佈本集團截至2024年6月30日止六 個月之未經審計中期業績，連同2023年同期的比較數字，請一併閱覽下文管理層 討論與分析。 本集團於2023年1月1日起實施《國際財務報告準則第17號 －保險合同》（「新保險 合同準則」）和《國際財務報告準則第9號 － 金融工具》（「新金融工具準則」）（統稱 「新準則」）。 1 財務報表及主要附註 中期合併利潤表 截至2024年6月30日止六個月期間 （除另有列明外，金額均以人民幣千元列示） | | | 截至6月30日止六個月期間 | | | --- | --- | --- | - ...

L 证券研究投告 中国再保胜 (1508 HK) 4 01 5 56 12 (%) 19 8 (4) (16) (27) Aug-23 Dec-23 Apr-24 Jul-24 立朴永温：S&P 1H24 集团宾泰冷冷润网比装升 150%~200% 主大成都 海外财产系保险业务永保成事 成价大学园 未坐弄侏虚有里失轰增长 财产业业务编材平稳 K B 264+ (3.5 ip)0.85 $. PhD SAC No. S0570521010 (852) 3658 6112SFC No. AWF297 -生兒近 SAC No. S0570124070107 inghui@htsc.com +(86) 21 2897 2228 부휴坏充 2024 年８月 03 日 | 中国香港 0.85目标价 (本名) 救金阶 (0.52 22,090李佳 (意多百万) 6 个月牛均日点文辑 (港牛百万)4.95 0.39-0.6352 鸡谷塔西（毫令) BVPS (人民名)2.20 经常预测检与存住 ★**L202220232024E2025E2026E 札条专载入 (人民专百万)153,76899,755111,376124,8 ...

二O二 三年年度報告 專 業 讓保險更保險 EMPOWER YOUR INSURANCE BY EXPERTISE 中國再保企業文化 使命 ˙ 分散經濟風險 護航美好生活 願景 ˙ 建設具有可持續發展能力和核心競 爭力的國際一流綜合性再保險集團 核心價值觀 ˙ 誠信 經營理念 ˙ 守正創新 行穩致遠 ˙ 專業 ˙ 合作 ˙ 進取 目錄 | 業績摘要 | 6 | | --- | --- | | 榮譽與獎項 | 8 | | 董事長致辭 | 10 | | 管理層討論與分析 | 14 | 2 中國再保險（集團）股份有限公司 2023 年年度報告 | 董事、監事、高級管理人員及員工情況 | 66 | | --- | --- | | 企業管治報告 | 78 | | 董事會報告 | 111 | | 監事會報告 | 128 | | 內含價值 | 134 | | 獨立核數師報告 | 144 | | 財務報表及附註 | 152 | | 釋義 | 384 | | 公司資料 | 388 | 3 中國再保險（集團）股份有限公司 2023 年年度報告 業績摘要 榮譽與獎項 董事長致辭 4 中國再保險（集團）股份有限公司 2023 年年度 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 China Reinsurance (Group) Corporation 中國再保險（集團）股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1508） 截 至 2 0 2 3 年 1 2 月 3 1 日 止 年 度 之 全 年 業 績 公 告 中國再保險（集團）股份有限公司董事會欣然宣佈本集團截至2023年12月31日止 年度之經審核綜合業績，連同2022年同期的比較數字，請一併閱覽下文管理層討 論與分析。 本集團於2023年1月1日起實施《國際財務報告準則第17號－保險合同》（「新保險 合同準則」）和《國際財務報告準則第9號－金融工具》（「新金融工具準則」）（統稱 「新準則」）。本集團按照新保險合同準則規定追溯調整保險業務上年同期對比數 據；同時，本集團對金融資產採用分類重疊法列報上年同期數據。 ...

Financial Performance - Total assets increased by 5.9% to RMB 449,688 million as of June 30, 2023, compared to RMB 424,732 million as of December 31, 2022[5] - Net profit surged by 464.8% to RMB 2,067 million in the first half of 2023, compared to RMB 366 million in the same period last year[6] - Net profit attributable to parent company shareholders surged by 331.5% to RMB 2.012 billion in the first half of 2023, driven by the implementation of new accounting standards and capital market changes[15] - Total assets grew by 5.9% to RMB 449.688 billion as of June 30, 2023, compared to RMB 424.732 billion at the end of 2022[16] - Net profit for the first half of 2023 was RMB 540 million for the group company, RMB 444 million for China Re Property Insurance, RMB 108 million for China Re Life Insurance, and RMB 219 million for China Continent Insurance[97] - Net profit attributable to the parent company's shareholders was RMB 2,011,676 thousand, compared to RMB 466,246 thousand in the first half of 2022[143] - Net profit attributable to parent company shareholders for the first half of 2023 was RMB 2.01 billion[149] Insurance Business - Insurance service revenue grew by 16.4% to RMB 48,466 million in the first half of 2023, compared to RMB 41,639 million in the same period last year[6] - Property reinsurance business revenue increased by 21.8% to RMB 19,986 million in the first half of 2023[8] - Life reinsurance business revenue rose by 35.0% to RMB 7,008 million in the first half of 2023[8] - Total premium income reached RMB 102.617 billion in the reporting period, representing a year-on-year growth of 16.6%[10] - Property reinsurance segment's insurance service revenue increased by 21.8% to RMB 19.986 billion in the first half of 2023, accounting for 40.3% of the group's insurance service revenue[17] - Domestic property reinsurance business premium income grew by 19.4% to RMB 24.311 billion in the first half of 2023, with a combined ratio of 99.65%, up 0.09 percentage points year-on-year[25] - Overseas property reinsurance and Chaucer business achieved a total premium income of RMB 13.923 billion in 2023, a 22.4% year-over-year increase, with a combined ratio of 88.45%, down by 8.05 percentage points[35][36] - The company's personal reinsurance division saw a 35.0% year-over-year increase in insurance service revenue to RMB 7.008 billion in the first half of 2023[49] - Domestic protection-type reinsurance business generated RMB 15.559 billion in premium income in the first half of 2023, a 15.2% year-on-year increase[58] - Domestic savings-type reinsurance business saw a remarkable 1,186.8% year-on-year growth in premium income, reaching RMB 14.237 billion in the first half of 2023[58] - Domestic financial reinsurance business experienced a 62.6% decline in premium income, dropping to RMB 5.077 billion in the first half of 2023[58] - Non-insurance business scale premiums reached RMB 5.080 billion in the first half of 2023, a 66.5% year-on-year increase[59] - Overseas savings-type reinsurance business premium income decreased by 57.4% to RMB 1.886 billion in the first half of 2023[61] - Other overseas business premium income surged by 447.1% to RMB 1.504 billion in the first half of 2023, mainly due to renewal premiums from overseas financial reinsurance business[61] - Contract reinsurance accounted for 99.9% of the total reinsurance premium income in both 2023 and 2022, with RMB 38.215 billion in 2023 and RMB 32.856 billion in 2022[62] - Life and health insurance accounted for 60.8% of the total reinsurance premium income, reaching RMB 23.279 billion, with a year-on-year growth of 16.8%[64] - Property insurance direct underwriting business achieved insurance service revenue of RMB 22.58 billion, a 7.8% increase year-on-year, accounting for 45.6% of the group's total insurance service revenue[65] - Motor vehicle insurance premium income grew by 2.6% year-on-year to RMB 12.499 billion, maintaining a stable market position[75] - Accident and short-term health insurance premium income surged by 29.5% year-on-year to RMB 6.768 billion, reflecting strong growth in non-motor insurance segments[74] - Cargo transportation insurance premium income grew by 39.1% year-on-year to RMB 780 million, indicating strong performance in niche markets[74] - Agricultural insurance premium income increased by 20.7% year-on-year to RMB 1.177 billion, reflecting the company's focus on high-growth sectors[74] - Accident and short-term health insurance premium income reached RMB 6.768 billion in the first half of 2023, a year-on-year increase of 29.5%[76] - Guarantee insurance premium income was RMB 2.601 billion in the first half of 2023, with a cumulative bad debt rate of 9.9% for personal consumer loan guarantee insurance, up 1.5 percentage points year-on-year but down 3.6 percentage points from the beginning of the year[76] - Liability insurance premium income increased by 11.2% year-on-year to RMB 2.304 billion in the first half of 2023[76] - Agricultural insurance premium income grew by 20.7% year-on-year to RMB 1.177 billion in the first half of 2023, with the company obtaining agricultural insurance operation qualifications in 32 provinces[76] - Cargo transportation insurance premium income rose by 39.1% year-on-year to RMB 780 million in the first half of 2023, driven by seasonal growth in online shopping return freight insurance[78] - Direct sales channel accounted for 36.2% of property insurance premium income in the first half of 2023, up from 33.1% in the same period last year[79] - Shanghai contributed 14.5% of the company's property insurance premium income in the first half of 2023, the highest among all regions[80] - The comprehensive cost ratio for property insurance business decreased to 100.86% in the first half of 2023 from 103.00% in the same period last year[81] Investment Performance - Total investment income nearly doubled, increasing by 99.7% to RMB 4,626 million in the first half of 2023[8] - Annualized total investment yield improved by 0.50 percentage points to 3.27% in the first half of 2023[8] - Investment income in the property reinsurance segment turned positive to RMB 161 million in the first half of 2023, compared to a loss of RMB 276 million in the same period last year[18] - Interest income in the property reinsurance segment increased by 12.9% to RMB 1.240 billion in the first half of 2023, compared to RMB 1.098 billion in the same period last year[20] - Earnings from investments in associates in the property reinsurance segment increased by 76.5% to RMB 180 million in the first half of 2023, due to higher profits from associated companies[23] - The company's investment income in the personal reinsurance division improved by 42.1% year-over-year, from a loss of RMB 1.107 billion in H1 2022 to a loss of RMB 641 million in H1 2023[53] - The company's interest income in the personal reinsurance division slightly decreased by 0.3% year-over-year to RMB 2.333 billion in the first half of 2023[52] - Investment income for the property insurance direct underwriting business increased by RMB 310 million to RMB 100 million, reversing a loss of RMB 210 million in the same period last year[69] - The company's total managed assets reached RMB 604.279 billion as of the end of the reporting period, with third-party managed assets growing by 146.1% year-on-year to RMB 251.695 billion[82] - Total investment assets amounted to 352.584 billion, with fixed income investments making up 80.3% of the total[84] - Domestic credit bond investments accounted for 16.98% of managed assets, with AAA-rated bonds comprising 98.43% of these investments[86] - Directly held domestic non-standard assets represented 6.71% of managed assets, with 80.12% rated AA+ or above[86] - The top three industries for non-standard asset holdings were transportation (26.42%), real estate (26.06%), and utilities (23.54%)[86] - The company holds a 3.93% stake in China Everbright Bank, which is expected to provide long-term, stable investment returns[88] - The company invested 3.089 billion in a property located in Shanghai's Pudong New Area, with 19,925.48 square meters designated for investment purposes[89] - The company's cash and short-term deposits stood at 14.249 billion, representing 4.0% of total investment assets[84] - Equity and fund investments totaled 71.722 billion, accounting for 20.4% of total investment assets[84] - The company's bond investments included 126.185 billion in corporate bonds, making up 35.8% of total investment assets[84] - The company's investment in government bonds was 14.210 billion, representing 4.0% of total investment assets[84] - Total investment income for the first half of 2023 reached RMB 4.626 billion, a year-on-year increase of 99.7%[92] - Net investment income for the first half of 2023 was RMB 6.990 billion, a year-on-year decrease of 1.9%[92] - Annualized total investment yield for the first half of 2023 was 3.27%, up 0.50 percentage points year-on-year[92] - Annualized net investment yield for the first half of 2023 was 3.96%, down 0.34 percentage points year-on-year[92] - The group company's investment return rate was 1.44%, with China Re Property Insurance at 1.31%, China Re Life Insurance at 1.50%, and China Continent Insurance at 0.96%[97] - The group company's comprehensive investment return rate was 1.49%, with China Re Property Insurance at 2.40%, China Re Life Insurance at 2.49%, and China Continent Insurance at 1.73%[97] Solvency and Capital - Core solvency adequacy ratio of China Re Group stood at 155% as of June 30, 2023, slightly down from 157% as of December 31, 2022[11] - Core capital of China Re Group increased by 11.6% to RMB 100.312 billion as of June 30, 2023[94] - Core solvency adequacy ratio of China Re Group decreased by 1 percentage point to 155% as of June 30, 2023[94] - Comprehensive solvency adequacy ratio of China Re Group decreased by 4 percentage points to 186% as of June 30, 2023[94] - Core solvency adequacy ratio of China Re Property & Casualty increased by 7 percentage points to 126% as of June 30, 2023[94] - Total assets of the group company reached RMB 88,180 million, with China Re Property Insurance at RMB 123,981 million, China Re Life Insurance at RMB 245,056 million, and China Continent Insurance at RMB 95,009 million[97] - The group company's net asset return rate (ROE) was 0.87%, with China Re Property Insurance at 2.10%, China Re Life Insurance at 0.55%, and China Continent Insurance at 0.90%[97] - The group company's total asset return rate (ROA) was 0.63%, with China Re Property Insurance at 0.38%, China Re Life Insurance at 0.05%, and China Continent Insurance at 0.24%[97] Strategic Initiatives - The company plans to focus on innovation, business structure adjustment, and investment capability enhancement to achieve high-quality development[108] - In property reinsurance, the company aims to deepen innovation-driven development and improve operational efficiency while balancing profit and business growth[108] - In life reinsurance, the company will leverage "data+" and "product+" strategies to expand protection-type reinsurance and explore opportunities in tax-advantaged health insurance and long-term care insurance[108] - For direct property insurance, the company will optimize business structure, enhance risk pricing, and improve cost control, especially in auto insurance[109] - The company will strengthen investment management and innovation capabilities, optimize asset allocation, and drive third-party asset management business growth[109] - The company adheres to the Corporate Governance Code and has complied with all applicable provisions during the reporting period[110] - All directors and supervisors confirmed strict compliance with the Standard Code of Securities Transactions during the reporting period[111] - The company is taking measures to comply with the Hong Kong Listing Rules regarding the number and composition of independent non-executive directors[112] - The company appointed Li Wenfeng as a non-executive director and Dai Deming as an independent non-executive director, effective from August 29, 2023[121] - He Chunlei was appointed as the Chairman of the 5th Board of Directors, and Zhuang Qianzhi was appointed as the Vice Chairman and President of the 5th Board of Directors on August 29, 2023[121] - The Board of Directors adjusted the composition of its specialized committees, including the appointment of Wang Xiaoya to the Audit Committee and Li Wenfeng to the Nomination and Remuneration Committee[122] - Zhuang Qianzhi was appointed as the President of the company on March 17, 2023, and ceased to serve as the Chief Risk Officer on July 7, 2023[124] - Lei Jianming was promoted from Assistant to the President to Vice President on March 30, 2023[124] - Tian Meipan was appointed as Assistant to the President and Chief Actuary on July 7, 2023[124] - Cao Shunming was appointed as Assistant to the President, Chief Compliance Officer, and Chief Risk Officer on July 7, 2023[124] Accounting and Financial Reporting - The company adopted new accounting standards, including IFRS 17 for insurance contracts, effective from January 1, 2023, which impacted the classification and accounting of insurance and investment contracts[158][160] - The company has adopted the new accounting standard IFRS 17 for insurance contracts starting from January 1, 2023, which includes the aggregation and recognition of insurance contracts and reinsurance contracts held[162][163] - Insurance contracts are grouped into portfolios based on similar risks and managed uniformly, with each portfolio further divided into three groups based on profitability at initial recognition[162] - Reinsurance contracts held are assessed separately from issued insurance contracts and are grouped into three categories based on net gains at initial recognition[163] - The company uses the concept of contract boundaries to determine future cash flows to be considered in measuring insurance contract groups[167] - Future cash flow estimates are adjusted for the time value of money and financial risks not included in the estimates, using current discount rates[164] - Non-financial risk adjustments are made to the present value of future cash flow estimates to reflect compensation for uncertainties in the amount and timing of cash flows due to non-financial risks[165] - The company adopted the International Financial Reporting Standard (IFRS) 17 for insurance contracts starting from January 1, 2023, which includes new accounting policies and revisions[169][170] - The insurance contract boundary is reassessed at each reporting date to reflect changes in the company's substantive rights and obligations, which may vary over time[169] - Insurance acquisition cash flows are defined as cash flows directly attributable to the corresponding portfolio of contracts and are allocated using a systematic and rational method[169] - For insurance contracts not measured using the premium allocation approach, the initial measurement includes the sum of fulfillment cash flows and the contractual service margin (CSM)[170] - The CSM represents the unearned profit the company expects to recognize as it provides services under the contract group[170] - Subsequent measurement of insurance contract groups includes the sum of the unearned liability and the incurred claims liability, with adjustments for changes in fulfillment cash flows[172] - The CSM is adjusted for changes related to future services, interest accrued, and any currency exchange differences[173] - Changes in fulfillment cash flows related to future services include adjustments for premiums received, changes in estimates of future cash flows, and changes in risk adjustments for non-financial risks[174] - The premium allocation approach is generally used for contracts with a coverage period of one year or less, or when it is expected to yield results not materially different from the non-premium allocation approach[175] - The company adopted the International Financial Reporting Standard No. 17 (IFRS 17) for insurance contracts starting from January 1, 2023, which includes new accounting policies for initial and subsequent measurement of insurance contracts[177][178] - The unearned premium liability is measured at the initial recognition of each contract group by deducting any insurance acquisition cash flows allocated to the contract group from the premiums received at the initial recognition date[176] - The unearned premium liability increases due to any premiums received and amortization of insurance acquisition cash flows, and decreases due to insurance acquisition cash flows paid, insurance service revenue recognized, and any investment components paid or transferred to the incurred claims liability[178] - The company recognizes a loss in the income statement and increases the unearned premium liability if there is an indication of a loss in the contract group during the coverage period[178] - The company measures the liability for incurred claims as the amount of fulfillment cash flows related to incurred claims, discounted at the current interest rate[178] - For reinsurance contracts held, the company uses the same accounting policies as for insurance contracts not measured under the premium allocation approach, with modifications[179] - The carrying amount of reinsurance contracts held at each reporting date is the sum of the unearned premium asset and the incurred claims asset[179] - The company adjusts the contract service margin for reinsurance contracts held if the reinsurance contracts are entered into before or at the same time

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 China Reinsurance (Group) Corporation 中國再保險（集團）股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1508） 截 至 2 0 2 3 年 6 月 3 0 日 止 六 個 月 之 未 經 審 計 中 期 業 績 公 告 中國再保險（集團）股份有限公司董事會謹此宣佈本集團截至2023年6月30日止六 個月之未經審計中期業績，連同2022年同期的比較數字，請一併閱覽下文管理層 討論與分析。 本集團於2023年1月1日起實施《國際財務報告準則第17號－保險合同》（「新保險 合同準則」）和《國際財務報告準則第9號－金融工具》（「新金融工具準則」）（統稱 「新準則」）。本集團按照新保險合同準則規定追溯調整保險業務上年同期對比數 據；同時，本集團對金融資產採用分類重疊法列報上年同期數據。 ...

Financial Performance - Total assets reached RMB 520,695 million, an increase of 4.2% year-on-year[6]. - Total liabilities amounted to RMB 426,022 million, reflecting a year-on-year growth of 7.1%[6]. - Total equity decreased to RMB 94,673 million, down 7.3% compared to the previous year[6]. - Total premium income was RMB 169,765 million, representing a 4.3% increase year-on-year[6]. - Net profit fell to RMB 1,525 million, a significant decline of 74.1% year-on-year[6]. - Profit attributable to equity holders of the parent company was RMB 1,871 million, down 68.6% year-on-year[6]. - Earnings per share decreased to RMB 0.04, a drop of 68.6% compared to the previous year[6]. - Weighted average return on equity was 2.09%, down 4.32 percentage points year-on-year[7]. - Net assets per share attributable to equity holders of the parent company decreased to RMB 2.02, down 7.2% year-on-year[7]. - Total investment income dropped significantly by 63.3% to RMB 5.752 billion, with an investment yield of 1.79%, down 3.20 percentage points from 4.99% in 2021[23]. - Net profit attributable to shareholders of the parent company was RMB 1.871 billion, a decline of 68.6% from RMB 5.954 billion in 2021[24]. - The solvency ratio for the group was 157% as of December 31, 2022, down from 184% a year earlier[21]. - The company’s core solvency ratio was 635% as of December 31, 2022, unchanged from the previous year[21]. Business Segments - Property reinsurance business premium income rose by 19.0% to RMB 61.819 billion, while life reinsurance business premium income decreased by 4.3% to RMB 66.385 billion[22]. - The total premium income for the property reinsurance segment reached RMB 61.819 billion, a year-on-year increase of 19.0%, accounting for 35.4% of the group's total premium income[26]. - The net profit for the property reinsurance segment was RMB 1.065 billion, a year-on-year decrease of 55.0%, with a weighted average return on net assets of 3.82%[26]. - The life reinsurance segment's premium income was RMB 66.39 billion in 2022, a decrease of 4.3%, accounting for 38.0% of the group's total premium income[58]. - The domestic guaranteed reinsurance business generated RMB 29.07 billion in 2022, an increase of 11.6% year-on-year[60]. - The domestic savings-type reinsurance business saw a significant increase of 119.9%, reaching RMB 9.93 billion in 2022[60]. - The agricultural insurance segment generated RMB 10.911 billion in premium income, a significant increase of 35.3% year-on-year[33]. - The total premium income from overseas property reinsurance and bridge business was RMB 19.621 billion in 2022, up 16.6% year-on-year[36]. Market Position and Strategy - The group maintained the largest market share in domestic property and life reinsurance, with a risk coverage amount of RMB 42.2 trillion for key national strategic areas, up 20.3% year-on-year[13]. - The company aims to build a world-class comprehensive reinsurance group by 2035, focusing on product innovation, platform-driven strategies, and technological empowerment[15]. - The company plans to enhance its global layout and risk management capabilities as part of its high-quality development strategy initiated in 2023[16]. - The company strategically exited smaller direct insurance businesses to focus on core business areas[47]. - The company aims to focus on high-quality development, emphasizing risk management and product innovation in property reinsurance, while enhancing domestic market position[115]. Governance and Leadership - He Chunlei has been appointed as the Chairman of the Board since December 7, 2022, and has served as an Executive Director since February 2017[118]. - Zhuang Qianzhi has been appointed as the President and Executive Director since March 2023, and previously served as the Chief Risk Officer since April 2021[121]. - The company has seen a leadership transition with Zhuang Qianzhi taking over the role of President from He Chunlei in March 2023[121]. - The company has a diverse board with independent directors including Mo Jinchang and Jiang Bo, enhancing corporate governance[122]. - The company has a robust governance structure with various committees led by experienced board members[118]. - The company has maintained a strong focus on corporate governance, with multiple qualified individuals overseeing compliance and legal matters[130]. Risk Management - The company emphasizes the importance of effective risk management and internal control systems, with the board of directors responsible for overseeing these processes[175]. - The company has implemented a risk preference system that includes risk tolerance and limits, closely integrated with operational plans to guide and constrain business operations[177]. - The company has conducted three evaluations of its risk management and internal control systems in 2022, focusing on design and operational effectiveness, covering all key monitoring aspects[180]. - The company has enhanced its internal control management effectiveness by regularly assessing internal controls and dynamically identifying risk points[178]. - The company has made targeted management measures to ensure solvency adequacy before undertaking significant business activities[177]. Shareholder Communication and Dividends - The company has a dividend policy that stipulates at least 30% of the net profit attributable to shareholders of the parent company will be distributed as cash dividends annually[188]. - The board proposed a final dividend of RMB 0.014 per share, totaling approximately RMB 595 million, subject to shareholder approval[197]. - The company emphasizes effective communication with shareholders to enhance understanding of its business and improve governance[189]. - The company has established an Investor Relations Management Policy to ensure fair, timely, accurate, and effective communication with shareholders[189]. Taxation and Compliance - H-share individual shareholders from Hong Kong or Macau will have a 10% withholding tax rate on dividends[198]. - H-share individual shareholders from countries with tax agreements lower than 10% will also have a 10% withholding tax rate applied temporarily[198]. - The company strictly adheres to sanctions-related commitments and has implemented risk management policies to avoid activities that could lead to sanctions risks[191]. - The company has committed to maintaining compliance with relevant laws and regulations, ensuring no significant legal or regulatory issues affect its operations[194].