People's Insurance Company of China Holdings Company (中国人保控股公司) 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) (中国人民财产保险股份有限公司).
PICC P&C is China's largest insurer of casualty insurance. It is licensed to provide all major lines of insurance except life insurance. PICC P&C was established in 2002 from the former property and casualty insurance division of the PICC, which, divested of insurance responsibilities, re-organized itself into PICC Holding Company.
PICC P&C is the designated agent within the People's Republic of China for most international insurance companies, including Lloyd's of London. PICC has branch offices in London and New York.
PICC is the majority shareholder in PICC (HK) Company Limited, which opened in Hong Kong in 2002. It is listed on the Hong Kong Stock Exchange under the ticker symbol 2328. SEHK: 2328
In 2005, PICC announced a joint venture with Sumitomo Life Insurance Co. (住友生命保険相互会社) called PICC Life Insurance Co. (中国人保寿险有限公司). The new company will sell insurance products, including savings-oriented endowment insurance policies.
Through direct and indirect holdings, 19.8% of PICC's stock is owned by American International Group (AIG).
Famous quotes containing the words people, insurance, company and/or china:
“The same people who are murdered slowly in the mechanized slaughterhouses of work are also arguing, singing, drinking, dancing, making love, holding the streets, picking up weapons and inventing a new poetry.”
—Raoul Vaneigem (b. 1934)
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,—if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892–?)
“We’re too unseparate. And going home
From company means coming to our senses.”
—Robert Frost (1874–1963)
“In a country where misery and want were the foundation of the social structure, famine was periodic, death from starvation common, disease pervasive, thievery normal, and graft and corruption taken for granted, the elimination of these conditions in Communist China is so striking that negative aspects of the new rule fade in relative importance.”
—Barbara Tuchman (1912–1989)