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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 . PICC 中国 人民 财产 保险 股份有限公司 PICC PROPERTY AND CASUALTY COMPANY LIMITED ( a joint stock limited company incorporated in the People's Republic of China with limited liability ) ( Stock Code : 2328 ) UNAUDITED RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 31 MARCH 2021 This announcement is made by PICC Property and Casualty Company Limited ( the “ Company ” ) pursuant to the Inside Information Provisions ( as defined in the Listing Rules ) under Part XIVA of the Securities and Futures Ordinance ( Chapter 571 of the Laws of Hong Kong ) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ( the “ Listing Rules ” ) . The Board of Directors of the Company announces the unaudited results for the three months ended 31 March 2021 of the Company ( exclusive of subsidiaries ) . The financial information included in this announcement was prepared in accordance with the PRC Accounting Standards for Business Enterprises and has not been audited . I. Financial Summary Gross written premiums Underwriting profit Total investment income Profit before income tax Net profit Total assets Total liabilities Total equity Note : Three months ended 31 March 2021 2020 Change % RMB million RMB million 135,836 127,679 6.4 3,897 2,680 45.4 7,397 5,718 29.4 11,038 8,312 32.8 8,942 6,356 40.7 As at As at 31 March 2021 RMB million 31 December Change 2020 % RMB million 702,771 643,528 9.2 505,897 456,140 10.9 196,874 187,388 5.1 1. Total investment income = investment income + gains or losses on fair value changes + interest income from demand deposit + lease income from investment properties - impairment losses of investment assets 1