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PICC and China Life Insurance are two different companies. The differences lie in different establishment times, different business scopes, different company sizes and influences, etc.

1. Different establishment times. The People’s Insurance Company of China, the predecessor of the People’s Insurance Company of China Group Co., Ltd., was established on October 20, 1949. On January 18, 1999, China Insurance Property and Casualty Insurance Co., Ltd. inherited the insurance brand and changed its name to the People’s Insurance Company of China.

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The predecessor of China Life Insurance (Group) Company was the original People's Insurance Company of China founded in 1949. In 1996, it was established as China Life Insurance Co., Ltd. and in 1999 it was renamed China Life Insurance Company.

2. Different business scopes: The People’s Insurance Company of China Co., Ltd. covers property insurance, life insurance, health insurance, asset management, insurance brokerage, trusts, funds and other fields, forming an insurance and financial industry cluster.

The business scope of China Life Insurance (Group) Company comprehensively covers life insurance, property insurance, pension insurance (corporate annuity), asset management, alternative investments, overseas business, e-commerce and other fields. It has also invested in a number of banks and securities companies through capital operations.

Companies and other financial and non-financial institutions.

3. Different company sizes and influences The People's Insurance Company of China Co., Ltd. is one of the Fortune 500 companies in the world and one of the largest insurance companies in the world. It is a central financial enterprise with a registered capital of 30.6 billion yuan.

China Life Insurance (Group) Company and its subsidiaries constitute the largest state-owned financial and insurance group in my country.

In 2013, the total premium income reached 386.8 billion yuan, the domestic life insurance business market share was 31.6%, and the total assets reached 2.4071 billion yuan. It has been selected into the Fortune Global 500 for 13 consecutive years, ranking 54th; it has been selected into the World Brand 500 for 7 consecutive years.

Strong, ranking 237th, and was selected into the Top 500 Chinese Brands by the China Brand Value Research Institute, ranking 15th.