Currently, in terms of asset size, the top five insurance companies (Chinese-funded) in China are:
1. PICC PICC:
People's Insurance Company of China Co., Ltd. (referred to as PICC) is a comprehensive insurance (financial) company, one of the world's top 500, and one of the largest insurance companies in the world. It is a deputy ministerial-level state-owned enterprise with a registered capital of 30.6 billion yuan. It is a very powerful company in the global insurance industry. The company logo is PICC in English.
Currently it owns 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 It has more than ten professional subsidiaries, and PICC also holds 32.35% stake in China Chengxin Trust. Wu Yan, the first chairman and president after the shareholding reform. Fortune Global 500 ranked 256th in 2013.
2. PINGAN China:
China Ping An Insurance (Group) Co., Ltd. (hereinafter referred to as "China Ping An", "Ping An", "Company", "Group") 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 integrating finance, insurance, banking, investment and other financial businesses.
In June 2017, the "BrandZ Top 100 Most Valuable Global Brands 2017" was announced, and Ping An of China ranked 61st; on July 31, the Fortune China Top 500 list was released, and Ping An of China ranked 61st. Insurance (Group) Co., Ltd. ranked fifth. In September 2018, Ping An Insurance (Group) Co., Ltd. of China ranked sixth among the top 500 Chinese companies in 2017, rising two places from 2017. Ranked 29th on the Fortune Global 500 list in 2018.
3. PIC China Pacific Insurance Company:
China Pacific Insurance Company, 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 registered with the State Administration for Industry and Commerce on May 13, 1991, 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 October 24, 2001, the company went through the re-registration procedures with the State Administration for Industry and Commerce, with a registered capital of 2.006 billion yuan. After another capital increase in 2002, the introduction of foreign investors and a capital increase in 2007, On May 17, 2007, the China Insurance Regulatory Commission agreed to change the company's registered capital to 6.7 billion yuan. 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. TAIKANG Taikang Life:
In November 2000, Taikang Life fully completed the foreign capital raising work approved by the State Council and the China Insurance Regulatory Commission.
Currently, Taikang Life *** has 20 shareholders, among which Chinese shareholders include Sinotrans & CSC Group Co., Ltd., China Guardian International Auction Co., Ltd., China Communications Construction Co., Ltd., and CITIC China East ( Group) Co., Ltd. and other domestic large and medium-sized enterprises, and foreign shareholders include Swiss Fengtai Life Insurance Company, Xinzheng TEDA Investment Co., Ltd. and Japan Software Bank Group and other well-known international financial enterprises.
In April 2011, Goldman Sachs Group signed a contract with Taikang Life Co., Ltd. to acquire 12.02 shares of Taikang, becoming the company’s second largest shareholder.
5. NCI Xinhua Life:
NCI is the abbreviation of New China Life Insurance Co., Ltd. It was founded in September 1996 and is headquartered in Beijing. It is a large life insurance company. In 2011, New China Insurance was listed simultaneously on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, with the A-share code 601336 and the H-share code 1336.
In 2013, New China Insurance achieved insurance business income of RMB 103.64 billion, and the company’s total assets reached RMB 565.849 billion. It achieved positive growth in premium income and continued to maintain its top three status in the domestic life insurance industry.
In 2014, the company achieved insurance business income of RMB 109.868 billion, and the company's total assets reached 643.709 billion yuan. It achieved positive growth in premium income and continued to maintain its top three status in the industry. In 2014, it was shortlisted for the first time in the Forbes Global 500. enterprise. In August 2016, New China Insurance ranked 102nd among the "Top 500 Chinese Enterprises 2016". In 2016, Xinhua Insurance won the "Best Technology Insurance Company Award."
Extended information:
Insurance (Insurance or abbreviated as insur) originally meant safe and reliable protection; it was later extended into a kind of protection Mechanism is a tool used to plan life finances, a basic means of risk management under market economy conditions, and an important pillar of the financial system and social security system.
Insurance refers to the policy of the policy holder. The contract stipulates that the insurance premium shall be paid to the insurer, and the insurer shall be liable for compensation for property losses caused by the occurrence of the accident that may occur as stipulated in the contract, or the insured dies, becomes disabled, becomes ill, or reaches the age stipulated in the contract. A commercial insurance act that assumes the responsibility for paying insurance premiums under certain conditions such as , term, etc.
From an economic point of view, insurance is a financial arrangement for sharing accident losses; from a legal point of view, insurance is a contractual act. , is a contractual arrangement in which one party agrees to compensate the other party for losses; from a social perspective, insurance is an important part of the social and economic security system and an "exquisite stabilizer" of social production and social life; from a risk management perspective, insurance It is a method of risk management.
Reference materials: Baidu Encyclopedia - PICC Baidu Encyclopedia - Ping An Insurance Baidu Encyclopedia - China Pacific Insurance Baidu Encyclopedia - Xinhua Life Insurance Baidu Encyclopedia - Taikang Life