As of December 2019, the insurance companies that are doing well in Internet insurance include: China Life, Ping An of China, Pacific Insurance, PICC PICC and New China Insurance, etc.
1. China Life Insurance (Group) Company and its subsidiaries constitute the largest commercial insurance group in my country and are one of the largest institutional investors in China’s capital market.
China Life Insurance (Group) Company has eight first-level subsidiaries, including China Life Insurance Co., Ltd., China Life Asset Management Co., Ltd., China Life Property & Casualty Insurance Co., Ltd., and China Life Pension Insurance Co., Ltd.
, China Life E-Commerce Co., Ltd., China Life Insurance (Overseas) Co., Ltd.
China Life Investment Holding Co., Ltd., China Life Health Industry Investment Co., Ltd., as well as a national joint-stock bank, China Guangfa Bank, and an affiliated college Insurance Vocational College.
2. Ping An is called Ping An Insurance (Group) Co., Ltd. of China. It is a financial company listed on the Hong Kong Stock Exchange.
It was born in Shekou, Shenzhen in 1988. It is China's first joint-stock insurance company. It has developed into an integrated, close-knit and diversified comprehensive financial services group that integrates insurance, banking, investment and other financial businesses.
In July 2019, it was selected into the 2019 Fortune Global 500, ranking 29th. On September 1, 2019, the 2019 China's Top 500 Service Enterprises list was released in Jinan, with Ping An Insurance (Group) Co., Ltd. of China ranked 3rd
.
3. China Pacific Insurance, also known as Pacific Insurance, referred to as China Pacific Insurance or CPIC, was a joint-stock insurance company established by the Bank of Communications with the approval of the People's Bank of China Yinfu [1991] No. 149 in 1991. The company was established on May 13, 1991
It was registered and established in the State Administration for Industry and Commerce with a registered capital of 1 billion yuan.
After capital increase, business division and re-standardization in 1995, on August 31, 2001, as approved by the China Insurance Regulatory Commission [2001] No. 239, China Pacific Insurance Company was regulated as a joint stock limited company in accordance with the Company Law and Insurance Law, and
Changed its name to "China Pacific Insurance (Group) Co., Ltd."
On June 4, 2007, the company renewed its "Enterprise Legal Person Business License" and its registered capital was changed to 6.7 billion yuan.
In May 2007, CPIC Group increased capital to CPIC Life and CPIC Property & Casualty respectively. The registered capital of CPIC Life and CPIC Property & Casualty increased to 2.3 billion yuan and 2.688 billion yuan respectively.
CPIC Group holds 97.83% of CPIC Life and 98.14% of CPIC Property & Casualty.
4. The People's Insurance Company of China Co., Ltd. (referred to as PICC) is a comprehensive insurance (financial) company with a registered capital of 30.6 billion yuan.
As of 2013, it owns more than ten professional companies including PICC Property & Casualty, PICC Assets, PICC Health, PICC Life, PICC Investment, Huawen Holdings, PICC Capital, PICC Hong Kong, Zhongsheng International, PICC Brokerage, Zhongyuan Brokerage and PICC Property.
Subsidiary, PICC also holds a 32.35% stake in China Chengxin Trust.
In August 2016, PICC Group Co., Ltd. ranked 24th among the top 500 Chinese companies in 2016. In 2018, it ranked 117th on the Fortune Global 500 list.
In July 2019, it ranked 121st on the Fortune Global 500 list.
On September 28, 2018, the China Securities Regulatory Commission issued an announcement and approved the initial public offering (IPO) application of The People's Insurance Company of China Co., Ltd. in accordance with legal procedures.
On November 16, PICC Group Co., Ltd. was listed on the Shanghai Stock Exchange.
5. Xinhua Life Insurance Co., Ltd. ("Xinhua Insurance" for short) was established in September 1996 and is headquartered in Beijing. It is a large life insurance company.
In August 2016, New China Insurance ranked 102nd among the "Top 500 Chinese Enterprises 2016".
In 2016, New China Insurance won the "Best Technology Insurance Company Award". On September 1, 2019, the 2019 China's Top 500 Service Enterprises list was released in Jinan, with New China Life Insurance Co., Ltd. ranking 54th.
On November 8, 2019, the 14th China Insurance Innovation Awards announced the winners. Xinhua Life Insurance Co., Ltd. won the 2019 Culture and Brand Award (Best Life Insurance Company in 2019).
Extended information: Advantages of Internet insurance: 1. Compared with traditional insurance promotion methods, Internet insurance allows customers to choose products independently.
Customers can compare products from multiple insurance companies online, with transparent premiums and clear protection rights. This method can greatly reduce the surrender rate of traditional insurance sales.
2. The service is more convenient.
Online product consultation, electronic insurance policies sent to mailboxes, etc. can all be completed with the click of a mouse.
3. Claims settlement is easier.