Legal analysis: PICC P&C is a state-owned enterprise, whose full name is "China People's Property Insurance Co., Ltd.", which was established in July 23 and belongs to China People's Insurance Group Company, and is currently one of the well-known property insurance companies in Asia. Among its shareholders, the Ministry of Finance holds more than 7% and the social security fund holds 1%, which is a typical state-owned holding enterprise.

legal basis: article 2 of the insurance law of the people's Republic of China * * * the insurance mentioned in this law refers to the commercial insurance behavior in which the applicant pays the insurance premium to the insurer according to the contract, and the insurer is liable to pay the insurance premium for the property losses caused by the possible accidents agreed in the contract, or when the insured dies, suffers from disability, illness or reaches the age and time limit agreed in the contract.

law of the people's Republic of China on state-owned assets of enterprises article 5 the state-funded enterprises mentioned in this law refer to wholly state-owned enterprises and wholly state-owned companies funded by the state, as well as state-owned capital holding companies and state-owned capital shareholding companies.