Headquarters: 1 Zhongshan South Road, Huangpu District, Shanghai 200010, China

Year established: 1991

Size (employees): 107,000+

Gross written premiums: Life insurance – RMB211,685 million; property & casualty – RMB152,643 million (2021)

Underwriting expertise: Property, casualty, and life insurance

Key people: Kong Qingwei (chairman & executive director), Fu Fan (president & executive director), Yu Bin (vice-president), Ma Xin (vice-president), Sun Peijian (chief risk officer), Zhang Yuanhan (chief actuary & CFO), Zhang Weidong (compliance responsible person & chief legal councillor), Sheng Yafeng (director of Greater Bay Area development), Chen Wei (chief administrative officer), Su Shaojun (board secretary & deputy director on transformation matters), Su Gang (chief investment officer), Zhou Xiaonan (chief auditing officer & auditing responsible person)

About CPIC

China Pacific Insurance (Group) Co. Ltd (CPIC) is an insurance holding company and one of the largest in the country. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 under the People’s Bank of China’s approval.

CPIC is a Fortune 500 company, ranking 182nd as of August 2022 in the prestigious list, with revenue reaching $68.3 billion and market value of $27.4 billion. It is also the first insurance group to be listed simultaneously on the Shanghai, Hong Kong, and London Stock Exchanges.

CPIC operates three segments:

1. Life insurance
2. Property & casualty (P&C) insurance
3. Other businesses, which handle asset management and investment

List of CPIC subsidiaries

CPIC offers a range of insurance products, both domestically and overseas, through its subsidiaries. These consists of:

• China Pacific Property Insurance Co. Ltd: The company’s P&C arm offers motor vehicle, liability, property, guarantee, accidental injury, and short-term health coverage for a range of sectors, with more than 40 branches and 3,100 service centres across the country.
• China Pacific Life Insurance Co. Ltd: The company’s life insurance arm provides policies for domestic and global clients.
• Pacific Asset Management Co. Ltd: CPIC’s wealth and asset management division.
• Pacific Health Insurance Co. Ltd: The company’s professional health services unit, with offices in Shanghai, Beijing, Guangdong, and Sichuan.
• Changjiang Pension Insurance Co. Ltd: Offers a range of pension insurance policies and annuity services.
• Anxin Agricultural Insurance Co. Ltd: Provides agricultural insurance and other commercial property coverage designed for rural areas and farmers.
• Pacific Insurance Pension Industry Investment Management Co. Ltd: Engaged in pension investment and management, including those involving health and medical businesses.
• Guolianan Fund Management Co. Ltd: A joint venture between Pacific Asset Management Co. Ltd and insurance giant Allianz AG.
• CPIC Private Equity Fund Management Co. Ltd: Specializes in private equity investment fund management services and operates a subsidiary, Shanghai Taibao Real Estate Management Co. Ltd, which is focused on real estate consulting, market planning, and property leasing.
• China Pacific Insurance (Hong Kong) Co. Ltd: A Hong Kong-based subsidiary offering a suite of general insurance policies, including vehicle, shipping, property damage, and general liability.

CPIC’s latest initiatives

CPIC has “pro-actively” innovated its development model, successfully implementing “Products + Services,” which helped drive up China Pacific Life’s customer business. The company has likewise initiated several projects aimed at improving the health and well-being of its clients. These include:

• CPIC Home, a series of high-end retirement communities in Chengdu, Hangzhou, Shanghai, and Nanjing
• CPIC Blue Passport, the company’s flagship health management program
• Signing of strategic cooperation agreement with the Ministry of Industry and Information Technology to serve the high-end manufacturing industry
• Offering insurance coverage to the Belt and Road Initiative, with overseas businesses expanding to over 120 countries
• Supporting national initiatives such as the “Integration of the Yangtze River Delta Region, “New Area of Shanghai Free Trade Zone,” “Invigoration of Rural Areas,” and “Healthy China”
• Donating over RMB20 million for afforestation efforts in Sanjiangyuan, the origin of China’s main rivers
• Providing insurance coverage against the coronavirus to frontliners, including medical professionals, police, and grassroots government officials
• “Fang Pin Bao” anti-poverty program provided a total of RMB2.77 trillion in protection to vulnerable people in 160 counties in 16 provinces

To better serve its clients, CPIC also upgraded its mobile app, the CPIC App, helping bind more than 30 million users. To date, CPIC has provided services to almost 140 million clients, while projecting an image of “responsible, smart, and caring.” As a result, its largest subsidiaries China Pacific Life and China Pacific Property have been awarded top AA rating for successive years in the country’s regulatory evaluation of customer service.