Profile of China Pacific Insurance (Group) Co., Ltd
China Pacific Insurance (Group) Co., Ltd. (CPIC) was established on the basis of China Pacific Insurance Co., Ltd., which was founded on May 13, 1991. Headquartered in Shanghai, its registered capital stands at RMB 7.7 billion.
The group has several subsidiaries: China Pacific Life Insurance Co., Ltd., China Pacific Property Insurance Co., Ltd., Pacific Asset Management Co., Ltd., China Pacific Insurance (H.K.) Co., Ltd., and Pacific-Antai Life Insurance Co., Ltd. In 2007, the company recorded premium income of RMB 74236 million, or 32.5% higher than that of the year before. The company ranked third in the PRC life insurance market with a premium income of RMB 50686 million (34% higher than that of the year before), or a market share of 10.2%, and second in the PRC property and casualty insurance market with a premium income of RMB 23474 million (29.4% higher than that of the year before), or a market share of 11.2% (excl. China Pacific HK) based on PRC insurance industry data published by CIRC. In 2007, the net profit attributable to the parent company was RMB 6893 million, 583.8% higher than that of the year before.
With its core value concept of integrity, prudence and excellence, the company is active in reforming and innovation to add values for its clients, shareholders, employees and other related parties and make contribution to a harmonious society as well.
We have approximately 185,000 insurance agents for our individual life insurance products and approximately 18,400 employees engaged in direct sales and marketing activities for life and property and casualty insurance products as well as a large number of brokers, agents and other intermediaries for our insurance products. It has over 5000 branches and marketing outlets and nationwide sales and service network, providing individual and institutional clients a wide range of risk prevention solutions, financial advices and asset management.
While focusing on its development, CPIC has dedicated itself to charity activities in fulfilling its duty as a corporate citizen. It has, ever since its establishment, taken an active role in helping the orphans and disabled and people in flood stricken areas.
After more than 10 years of development, CIPC has become one of the most renowned insurance companies in China.
Generally speaking, CPIC has set up the strategic objective of building itself into an internationalized insurance and finance service group, stepping steadily towards a modern financial group with sufficient capital, strict internal control, prudent operation and outstanding services and profits.
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