New China Life Insurance Co., Ltd. Class A · SSE:601336
New China Life Insurance Co., Ltd. Class A — Q1 2024 Earnings Presentation
15 slides from New China Life Insurance Co., Ltd. Class A's earnings presentation, Apr 29, 2024
Slide 1: Overseas Regulatory Announcement
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia
Slide 2: New China Life 2024 First Quarter Results Announcement
NEW CHINA LIFE 2024 First Quarter Results Announcement 30 April, 2024 Beijing, China
Slide 3: Disclaimer
Disclaimer These materials are for information purposes only and do not constitute or form part of an offer or invitation to sell or issue or the solicitation of an offer or invitation to buy or subscribe for securities of New China Life Insurance Company Ltd. (the "Company”) or any of its holding
Slide 4: Contents: Operation and Development
Operation and Development CONTENTS Value Growth Business Performance 2
Slide 5: High-quality development advanced steadily
High-quality development advanced steadily Staying committed to “people-oriented” finance, NCI adopted a series of reform and development measures, upgraded operation and management system, and advanced high-quality development. Strengthen Strategic Center on Customers, Optimize Resource 01 Leadersh
Slide 6: Contents: Value Growth
Operation and Development CONTENTS Value Growth Business Performance 4
Slide 7: NBV growth sustained
NBV growth sustained NBV • Focused on value-centered development • Value growth driven by improved +51% business structure and quality • Promoted long-term products with high value margin and profit contribution; regular premiums with payment periods of 10 years or more grew by 83.9% year on year •
Slide 8: Contents: Business Performance
Operation and Development CONTENTS Value Growth Business Performance 6
Slide 9: Focus on value growth, improve business structure
Focus on value growth, improve business structure The Company maintained sound operation. Renewal premiums remained a solid contributor. Unit: RMB in millions Long-term insurance business made breakthroughs. Premium structure improved. Regular premiums with payment periods GWP of 10-year or more 64,
Slide 10: Individual insurance channel: term structure improved
Individual insurance channel: term structure improved The individual insurance channel focused on value growth, optimized product and service Unit: RMB in millions supply to develop long-term insurance business and improve productivity. FYP from long-term insurance business Premium structure FYRP to
Slide 11: Bancassurance channel: business structure optimized
Bancassurance channel: business structure optimized Bancassurance channel adhered to high-quality development and reduced cost to improve Unit: RMB in millions operating efficiency. Renewal premiums Business structure optimized FYRP to FYP ratio Renewal premiums to channel premiums ratio +46.5% 68.0
Slide 12: Business quality improved prominently
Business quality improved prominently 13-month persistency ratio 25-month persistency ratio Surrender rate +5.2pt +5.6pt -0.1pt 94.4% 89.2% 85.6% 80.0% 0.6% 0.5% 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 This document is for specific use only; the "Disclaimer" is an integral part of this docum
Slide 13: Investment assets increased stably
Investment assets increased stably Investment assets increased stably. Annualized investment yield surpassed long-term Unit: RMB in millions investment return assumption. Investment assets Investment yield +2.3% Annualized total investment yield 1,336,092 1,366,669 4.6% Annualized comprehensive inve
Slide 14: Solvency capabilities remained solid
Solvency capabilities remained solid The Company maintained a high level of solvency margin ratio, laying a solid foundation for long-term healthy development. Core solvency margin ratio Comprehensive solvency margin ratio 278.43% 252.06% 157.01% 142.62% Regulatory bottom line requirement 100% Regul
Slide 15: Q&A Session
fib BR © NCI Q&A Session
New China Life Insurance Company — Q1 2024 Earnings Presentation on 6ix