Founded in October 1949, The People’s Insurance Company of China Limited is the first nation-wide insurance company in the People’s Republic of China and has developed into a leading large-scale integrated insurance financial group in the PRC, ranking 208th on the Global 500 (2014) published by the Fortune magazine. The Company operates its property and casualty insurance business in the PRC throu
gh PICC Property and Casualty Company and in Hong Kong through The People’s Insurance Company of China (Hong Kong), in which the Company holds approximately 68.98% and 75.0% equity interests, respectively. The Company operates its life and health insurance businesses through PICC Life Insurance Company and PICC Health Insurance Company, in which the Company, directly and indirectly, holds 80.0% and approximately 92.25% equity interests, respectively. The Company centrally and professionally manages most of its insurance assets through PICC Asset Management Company, in which the Company holds 81% of equity interest, and holds a 100% equity interest in PICC Investment Holding which is a professional investment company specializing in real estate investments. The Company also carries out non-transactional businesses such as equity and debt investments in insurance and non-insurance capital within and outside the Group through PICC Capital Investment Management Company in which it holds a 100% equity interest. The Company has also made strategic investments in non-insurance financial businesses such as banking and trust.
