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 reliance upon the whole or any part of the contents of this announcement.

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 02601) VOLUNTARY ANNOUNCEMENT COMPLETION OF BUSINESS REGISTRATION AND COMMENCEMENT OF OPERATIONS OF THE HEALTH INSURANCE COMPANY

This is a voluntary announcement made by the Board of Directors (the "Board") of China Pacific
Insurance (Group) Co., Ltd. (the "Company").
Reference is made to the overseas regulatory announcement issued by the Company on 23 January
2013 on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") which contained the board resolution on the establishment of China Pacific Insurance Allianz Insurance Co., Ltd. ( 7c�
� ) (the "Health Insurance Company").
Reference is also made to the voluntary announcement dated 28 February 2014 issued by the Company on the Stock Exchange in relation to the approval from the China Insurance Regulatory Commission (the "CIRC") for the Company and Allianz SE ( �� � �11 ) to establish the Health Insurance Company.
The CIRC has recently issued the "Approval in relation to the commencement of operations of China Pacific Insurance Allianz Insurance Co., Ltd. ( 7c� � )" (Baojian Permission [2014] NO. 1016)", according to which the Health Insurance Company may commence its operations. Pursuant to such approval, the Health Insurance Company has completed its business registration procedures and has formally commenced operations.

1

Pursuant to Chapter 14 and Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"), the establishment of the Health Insurance Company does not constitute a notifiable transaction or a connected transaction. Pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), the Board does not consider it to constitute inside information.
By Order of the Board

China Pacific Insurance (Group) Co., Ltd. Gao Guofu

Chairman

Hong Kong, 15 December 2014

As of the date of this announcement, the executive directors of the Company are Mr. GAO Guofu and Mr. HUO Lianhong; the non-executive directors of the Company are Mr. WANG Chengran, Ms. SUN Xiaoning, Mr. YANG Xianghai, Mr. WU Jumin, Mr. WU Junhao, Mr. ZHENG Anguo and Ms. HA Erman; and the independent non-executive directors of the Company are Mr. BAI Wei, Mr. LAM Chi Kuen, Mr. ZHOU Zhonghui, Mr. GAO Shanwen and Mr. FOK Kwong Man.

2

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