People's Insurance Company of China Holdings Company (Chinese: ????????) is a state-owned company in the People's Republic of China. The holding company promotes its subsidiaries, PICC Asset Management Company Limited, and PICC Property and Casualty Company Limited (PICC P&C) (??????????????).
PICC P&C is China's largest insurer of casualty insurance. It is licensed to provide all major lines of insurance except life insurance. PICC P&C was established in 2002 from the former property and casualty insurance division of the PICC, which, divested of insurance responsibilities, re-organized itself into PICC Holding Company.
PICC P&C is the designated agent within the People's Republic of China for most international insurance companies. PICC has branch offices in London and New York.
PICC is the majority shareholder in PICC (HK) Company Limited, which opened in Hong Kong in 2002. It is listed on the Hong Kong Stock Exchange under the ticker symbol 2328. SEHK: 2328
In 2005, PICC announced a joint venture with Sumitomo Life Insurance Co. (??????????) called PICC Life Insurance Co. (??????????). The new company will sell insurance products, including savings-oriented endowment insurance policies.
Through direct and indirect holdings, 19.8% of PICC's stock is owned by American International Group (AIG).
Video People's Insurance Company of China
See also
- China Life Insurance Company
Maps People's Insurance Company of China
References
External links
- People's Insurance Company of China Group Official Homepage
- PICC Property and Casualty Company Official Homepage
Source of the article : Wikipedia
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