The People's Insurance Company (Group) of China Ltd - Company Profile
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The People's Insurance Company (Group) of China Ltd (PICC), formerly PICC Holding Company, is a state-owned insurance company. It offers a range of life and non-life insurance products, including individual life insurance and group life insurance. The group provides insurance products for accidents, universal life, general life, family property, travel, auto, health, personal credit loan guarantee, and performance guarantee. It also offers enterprise property insurance, motor vehicle insurance, cargo insurance, credit guarantee insurance, and liability insurance. The company distributes its products through bancassurance, individual insurance agents, and group sales channels. Along with its subsidiaries, PICC operates in China. PICC is headquartered in Beijing, China. The company reported original premiums income of CNY693,015 million for the fiscal year ended December 2024 (FY2024), an increase of 6.7% over that in FY2023.
Headquarters
China
Address
No. 88 West Changan Street, Xicheng District, Beijing, 100031
Website
www.picc.com
Telephone
86 10 69009192
No of Employees
179,898
Industry
Financial Services
Ticker Symbol & Exchange
1339 (HKG)
Revenue (2024)
$83.7B
8.7%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
9.6%
(2024 vs 2023)
Market Cap*
$43.5B
Net Profit Margin (2024)
XYZ
0.8%
(2024 vs 2023)
* As of and is in US$
The People's Insurance Company (Group) of China Ltd premium industry data and analytics
Products and Services
| Products |
|---|
| Motor Vehicle Insurance |
| Enterprise Property Insurance |
| Home Insurance |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Contracts/Agreements | In March, the company entered into a strategic cooperation agreement with Inspur Group Co to jointly work in the insurance business and corporate pension, insurance technology, investment and financing business, and information technology. |
| 2022 | Contracts/Agreements | In September, the company entered into an agreement with China Telecom Group to work in the fields of electronic payment, investment and financing, and elderly care. |
| 2021 | Contracts/Agreements | In August, the company and China Export & Credit Insurance Corp signed strategic cooperation framework agreement to leverage the advantages of commercial insurance and policy insurance, complement each other in resources, and provide comprehensive insurance coverage. |
Competitor Comparison
| Key Parameters | The People's Insurance Company (Group) of China Ltd | Ping An Insurance (Group) Company of China Ltd | China Life Insurance Co Ltd | China Pacific Insurance (Group) Co Ltd | China Taiping Insurance Holdings Co Ltd |
|---|---|---|---|---|---|
| Headquarters | China | China | China | China | Hong Kong |
| City | Beijing | Shenzhen | Beijing | Shanghai | Hong Kong |
| State/Province | Beijing | Guangdong | Beijing | Shanghai | - |
| No. of Employees | 179,898 | 258,806 | 97,505 | 91,639 | 57,951 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Ding Xiangqun | Chairman | Executive Board | 2024 | - |
| Zhao Peng | Vice Chairman; President | Executive Board | 2023 | 53 |
| Li Zhuyong | Director; Vice President; Chief Risk Officer; Compliance Officer | Executive Board | 2023 | 53 |
| Zhou Houjie | Chief Financial Officer | Senior Management | 2010 | 61 |
| Yu Ze | Vice President | Senior Management | 2019 | 54 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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