CITIC-Prudential Life is a joint venture established by CITIC and Prudential plc, offering life, health and accident insurance services. It has set up 23 branches and established branch institutions in 101 cities.
In 2025, CITIC-Prudential Life adhered to innovation-driven strategic transformation, solidified its operational foundation with risk control, and took asset-liability coordination, channel optimisation and ecological upgrading as key measures, achieving dual growth in scale and value, as well as dual improvement in quality and efficiency.
Insurance business
Enhanced channel reform and multiple value growth drivers. The marketing channel continued to promote high-quality transformation, maintaining an industry-leading position in policy quality. The bancassurance channel deepened cooperation and synergy with banks, innovating collaboration models to achieve diversified channel development. It focused on key customer segments for differentiated operations with tiered products and services. The group insurance channel steadfastly pursued the “customer acquisition on the corporate side + value enhancement on the consumer side” strategy, intensively promoting systematic client ecosystem development, adding 3,669 new corporate partners. The e-commerce channel targeted the youth group, focusing on online brokerage and agency business, achieving cost reduction in customer acquisition and quality enhancement.
Accelerated ecological development and built a “health-pension-education-wealth” product and service system. In the health scenario, a comprehensive health management system covering “pre-disease prevention, disease consultation and post-disease rehabilitation” was established. Services like early screening and targeted consultations are available across 27 products. In the pension scenario, 36 pension institutions, 30 quality sojourn providers and 25 rehabilitation partners were selected. This builds a “1+3” elderly care service network centred on home-based care, complemented by sojourn accommodation, institutional care and rehabilitation support. In the education scenario, a “3+3+N” children education system was launched, with services enriched through crossover collaborations and public welfare platforms. In the wealth scenario, CITIC-branded trust-based pension services were innovatively introduced. Leveraging the “Insurance+Trust+Pension” direct payment model, it provides a one-stop pension solution. Annualised premium income for new life insurance trust policies reached RMB730 million. Additionally, in collaboration with Prudential plc, overseas service-sharing mechanism was established in Hong Kong, China and Singapore, and the Chuanjia Family Office was upgraded to version 2.0.
Strengthened technology empowerment to achieve new breakthroughs in digital and intelligent transformation. The agent business platform has launched Intelligent Training Star and AI Wealth Management College to help improve the professionalism of sales personnel in customer-facing services. CITIC-Prudential Life has launched “Underwriting Know-It-All” to help sales solve underwriting inquiries and predict underwriting decisions, with the accuracy reaching 96%. The video customer service has been launched to deepen the application of intelligent online customer service, allowing customers to experience convenient policy services anywhere.
Investment of insurance funds
On the asset side, the scale of asset management grew steadily, and the allocation structure continued to be optimised. CITIC-Prudential Life increased allocations to long-duration fixed-income interest-bearing bonds to extend asset duration, and opportunistically allocated to equities to enhance investment returns. By the end of 2025, assets managed by CITIC-Prudential Asset Management Company Limited totalled nearly RMB380 billion, with a non-linked financial investment return rate of 4.83% (on a solvency basis). The scale of insurance funds serving the real economy had reached RMB234.7 billion.
Capital management
By the end of 2025, the comprehensive solvency adequacy ratio of CITIC-Prudential Life was 208.28%, with a core solvency adequacy ratio of 122.35%, both continuing to exceed regulatory requirements. Its capital strength and risk resilience rank among the upper tiers of the industry.
Insurance business
Robust growth on the liability side and significant achievements in structural transformation and value creation. The scale of the insurance business maintained steady growth. CITIC-Prudential Life sustained efforts to accelerate business transformation, and actively promoted the sales of floating-return products. The proportion of new participating insurance business increased by 24 percentage points to 39%. CITIC-Prudential Life strengthened expense management and enhanced cost efficiency. The annual total cost-income ratio reduced by 1.2 percentage points year on year.
First-year premiums reached RMB15.9 billion, surging 79% YoY. On a comparable basis, new business profit increased by 69% YoY, and the new business profit margin rose by 6.1 ppts YoY.
Enhanced channel reform and multiple value growth drivers. The marketing channel continued to promote high-quality transformation, maintaining an industry-leading position in policy quality. The bancassurance channel deepened cooperation and synergy with banks, innovating collaboration models to achieve diversified channel development. It focused on key customer segments for differentiated operations with tiered products and services. The group insurance channel steadfastly pursued the “customer acquisition on the corporate side + value enhancement on the consumer side” strategy, intensively promoting systematic client ecosystem development, adding 3,669 new corporate partners. The e-commerce channel targeted the youth group, focusing on online brokerage and agency business, achieving cost reduction in customer acquisition and quality enhancement.
CITIC-UK Enterprise Cooperation and Upgraded Layout of CITIC Pension Finance New Ecosystem
Accelerated ecological development and built a “health-pension-education-wealth” product and service system. In the health scenario, a comprehensive health management system covering “pre-disease prevention, disease consultation and post-disease rehabilitation” was established. Services like early screening and targeted consultations are available across 27 products. In the pension scenario, 36 pension institutions, 30 quality sojourn providers and 25 rehabilitation partners were selected. This builds a “1+3” elderly care service network centred on home-based care, complemented by sojourn accommodation, institutional care and rehabilitation support. In the education scenario, a “3+3+N” children education system was launched, with services enriched through crossover collaborations and public welfare platforms. In the wealth scenario, CITIC-branded trust-based pension services were innovatively introduced. Leveraging the “Insurance+Trust+Pension” direct payment model, it provides a one-stop pension solution. Annualised premium income for new life insurance trust policies reached RMB730 million. Additionally, in collaboration with Prudential plc, overseas service-sharing mechanism was established in Hong Kong, China and Singapore, and the Chuanjia Family Office was upgraded to version 2.0.
Strengthened technology empowerment to achieve new breakthroughs in digital and intelligent transformation. The agent business platform has launched Intelligent Training Star and AI Wealth Management College to help improve the professionalism of sales personnel in customer-facing services. CITIC-Prudential Life has launched “Underwriting Know-It-All” to help sales solve underwriting inquiries and predict underwriting decisions, with the accuracy reaching 96%. The video customer service has been launched to deepen the application of intelligent online customer service, allowing customers to experience convenient policy services anywhere.
Investment of insurance funds
On the asset side, the scale of asset management grew steadily, and the allocation structure continued to be optimised. CITIC-Prudential Life increased allocations to long-duration fixed-income interest-bearing bonds to extend asset duration, and opportunistically allocated to equities to enhance investment returns. By the end of 2025, assets managed by CITIC-Prudential Asset Management Company Limited totalled nearly RMB380 billion, with a non-linked financial investment return rate of 4.83% (on a solvency basis). The scale of insurance funds serving the real economy had reached RMB234.7 billion.
Capital management
By the end of 2025, the comprehensive solvency adequacy ratio of CITIC-Prudential Life was 208.28%, with a core solvency adequacy ratio of 122.35%, both continuing to exceed regulatory requirements. Its capital strength and risk resilience rank among the upper tiers of the industry.