China People's Property Insurance Co., Ltd. (PICC P&C, hereinafter referred to as "PICC P&C") was formerly known as the People's Insurance Company of China, established on October 1, 1949. It is a core member and flagship business of China Pacific Insurance (Group) Co., Ltd. (PICC Group, ranked 90th in the Fortune Global 500 in 2021), a large state-owned property insurance company with a long history, large business scale, and strong comprehensive strength in China. Its premium scale ranks among the top in the global property insurance market. The company was listed on the main board of the Hong Kong Stock Exchange on November 6, 2003 (stock code 2328). In 2020, the company's total premium income was 433.187 billion yuan, and its total assets were 646.801 billion yuan. Moody's Investors Service once again awarded the company an insurance financial strength rating of A1 (outlook: stable).

Company Business

Motor vehicle insurance, enterprise property insurance, household property insurance, marine insurance, cargo transportation insurance, liability insurance, accident insurance, short-term health insurance, credit guarantee insurance, agricultural insurance, social security business, special risk insurance, etc., in RMB and foreign currencies; reinsurance business related to the above-mentioned businesses; investment and fund management businesses permitted by national laws and regulations.

The company's domestic business basically covers all urban and rural areas across the country, and its international business projects cover 160 countries and regions. In addition, the company actively integrates into the national development strategy, conducting international business in a total of 54 countries along the "Belt and Road", with a cumulative risk liability of 1.27 trillion yuan. In 2020, the company sent a total of 10 overseas working groups and a European service company (under preparation), basically possessing the service radiation capability for areas along the "Belt and Road" and areas with concentrated Chinese interests.

Company Strategy

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implementing the spirit of the 19th Central Committee's Fifth Plenary Session, taking Party building as the leader, fully implementing the Group's "Excellent Insurance Strategy", benchmarking against world-class standards, customer-centric, technology-enabled, innovation-driven, building a modern technology-based risk management company, forging integrity, advancement, professionalism, and value, becoming a people's insurance with warmth, leading the development of the global property insurance market, better serving the national strategy, public health, social governance, and innovation-driven development with high-quality development, making new and greater contributions to achieving the Group's strategic goals and building a modern socialist country in all respects.