China Pacific Insurance
Encyclopedia
China Pacific Insurance Group , or CPIC Group, was established on the basis of the former China Pacific Insurance Company, which was founded in 1991. Its headquarters
are in Shanghai
.
CPIC Group is the second largest property insurance
company (after People's Insurance Company of China
) and the third largest life insurance
company (after China Life Insurance and Ping An Insurance
) in Mainland China
.It provides integrated insurance services, including life insurance
, property insurance
and reinsurance
, through its subsidiaries.
The Company offers life and property insurance products and services through its subsidiaries, China Pacific Life Insurance Co., Ltd and China Pacific Property Insurance Co., Ltd., respectively. Through its subsidiary China Pacific Asset Management Co., Ltd, the Company is also involved in the management and operation of insurance assets. The Company's property insurance products include car insurance, insurance of family's properties, liability insurance
, investment type insurance and accident insurance/injury insurance, while its life insurance products include endowment insurance, health insurance
, juvenile assurance, insurance cover services and petty insurance.
on December 25, 2007 with IPO price $30 yuan
per share. At the first trading day, its share price closed at $48.17 yuan, 61% more than its IPO price.It is planning to issue H shares in the Hong Kong Stock Exchange
in near future. CPIC dropped below the IPO price of RMB$30 on 26 March 2008 and closed at RMB$27.98.
Its H shares were listed on the Hong Kong Stock Exchange in 23 December, 2009 with IPO price of HK$28 per share.
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...
are in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
.
CPIC Group is the second largest property insurance
Property insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main...
company (after People's Insurance Company of China
People's Insurance Company of China
People's Insurance Company of China Holdings Company is a state-owned company in the People's Republic of China. The holding company promotes its subsidiaries, PICC Asset Management Company Limited and PICC Property and Casualty Company Limited .PICC P&C is China's largest insurer of casualty...
) and the third largest life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
company (after China Life Insurance and Ping An Insurance
Ping An Insurance
Ping An , full name Ping An Insurance Company of China, Ltd. is a holding company whose subsidiaries mainly deal with insurance and financial services. The company was founded in 1988 and has its headquarters in Shenzhen.-Business:...
) in Mainland China
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
.It provides integrated insurance services, including life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
, property insurance
Property insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main...
and reinsurance
Reinsurance
Reinsurance is insurance that is purchased by an insurance company from another insurance company as a means of risk management...
, through its subsidiaries.
The Company offers life and property insurance products and services through its subsidiaries, China Pacific Life Insurance Co., Ltd and China Pacific Property Insurance Co., Ltd., respectively. Through its subsidiary China Pacific Asset Management Co., Ltd, the Company is also involved in the management and operation of insurance assets. The Company's property insurance products include car insurance, insurance of family's properties, liability insurance
Liability insurance
Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy...
, investment type insurance and accident insurance/injury insurance, while its life insurance products include endowment insurance, health insurance
Health insurance
Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is...
, juvenile assurance, insurance cover services and petty insurance.
Listings
Its A shares were listed on the Shanghai Stock ExchangeShanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...
on December 25, 2007 with IPO price $30 yuan
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
per share. At the first trading day, its share price closed at $48.17 yuan, 61% more than its IPO price.It is planning to issue H shares in the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in near future. CPIC dropped below the IPO price of RMB$30 on 26 March 2008 and closed at RMB$27.98.
Its H shares were listed on the Hong Kong Stock Exchange in 23 December, 2009 with IPO price of HK$28 per share.