Financial Performance - Total premium income for the year ended December 31, 2022, was RMB 169,765,451 thousand, an increase from RMB 162,731,563 thousand in 2021, representing a growth of approximately 6.35%[2] - Net premium income for 2022 was RMB 154,464,777 thousand, compared to RMB 147,756,863 thousand in 2021, reflecting an increase of about 4.8%[2] - Total revenue for 2022 amounted to RMB 167,935,609 thousand, up from RMB 163,973,617 thousand in 2021, indicating a growth of approximately 2.4%[3] - The net profit for the year 2022 was RMB 1,525,324 thousand, a significant decrease from RMB 5,894,774 thousand in 2021, representing a decline of about 74.1%[4] - Basic earnings per share for 2022 were RMB 0.04, down from RMB 0.14 in 2021, indicating a decrease of approximately 71.4%[3] - The company reported a total comprehensive income for 2022 of RMB (5,458,518) thousand, a decline from RMB 938,259 thousand in 2021, reflecting a decrease of approximately 681.5%[4] - The net profit for the year was RMB 1,871,319 thousand, a decrease of RMB 345,995 thousand compared to the previous year[10] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 520,694,917 thousand, an increase from RMB 499,795,757 thousand in 2021, reflecting a growth of about 4.4%[5] - Total liabilities as of December 31, 2022, were RMB 426,022,239 thousand, compared to RMB 397,706,036 thousand in 2021, indicating an increase of approximately 7.1%[8] - The company reported a total equity attributable to shareholders of RMB 86,017,657 thousand as of December 31, 2022[10] Investment Income - The company reported an investment income of RMB 8,208,719 thousand for 2022, a decrease from RMB 14,764,050 thousand in 2021, representing a decline of about 44.6%[2] - The company generated RMB 9,364,984 thousand in interest income, up from RMB 8,432,582 thousand in the previous year[12] - The total investment income for 2022 was RMB 57.52 billion, a year-on-year decrease of 63.3%[126] Dividends - The company paid dividends to shareholders amounting to RMB 1,911,591 thousand, an increase from RMB 1,741,672 thousand in the previous year[13] - The declared ordinary share dividend for 2022 is RMB 0.045 per share, totaling RMB 1,911,591, compared to RMB 0.041 per share and RMB 1,741,672 for 2021[39] - The proposed final dividend for the year ended December 31, 2022, is RMB 0.014 per share, totaling approximately RMB 595 million[159] Risk Management and Compliance - The company has implemented a comprehensive risk management system to enhance investment risk management precision[124] - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[156] Market Position and Strategy - The group has deferred the implementation of IFRS 9, which is anticipated to have a significant impact on the consolidated financial data[18] - The company aims to enhance its domestic reinsurance business and develop a unique reinsurance ecosystem while focusing on risk management and high-quality development[138] - The company is focusing on digital solutions for innovative products and enhancing underwriting capabilities[76] Segment Performance - The property reinsurance segment contributed RMB 61.82 billion to total premium income, while the life reinsurance segment contributed RMB 66.38 billion[25] - The life reinsurance segment's premium income was RMB 66.385 billion in 2022, a year-on-year decrease of 4.3%, accounting for 38.0% of the group's total premium income[87] - The property insurance direct business reported premium income of RMB 46.361 billion in 2022, an increase of 6.6% year-on-year, accounting for 26.6% of the group's total premium income[103] Future Outlook - The outlook for 2023 indicates a strong resilience in the Chinese economy, with the insurance industry transitioning towards technology-driven growth and comprehensive risk solutions[136] - The company aims to strengthen compliance and risk management in financial reinsurance while exploring new business opportunities in the domestic and overseas markets[88]
中国再保险(01508) - 2022 - 年度业绩