China Pacific Insurance Company

China Pacific Insurance (Group) Co., Ltd. (CPIC) known as Pacific Insurance, is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 approved by the People's Bank of China. Its headquarters is in Shanghai.[3]

Not to be confused with China Taiping Insurance Holdings, which has a similar Chinese name.
China Pacific Insurance (Group)
  • China Pacific Insurance
  • China Pacific Insurance Company
  • CPIC
Native name
中国太平洋保险(集团)股份有限公司
FormerlyChina Pacific Insurance Corporation
TypePublic
IndustryFinancial services
Founded1991 (1991)
Headquarters
Shanghai
,
China
Area served
China
Key people
Kong Qingwei(chairman & executive director)
Huo Lianhong(executive director)[1]
Zhang Yuhua(deputy president)
ServicesLife and non-life insurance
RevenueIncrease CN¥247.0 billion (2015)
Increase CN¥24.3 billion (2015)
Increase CN¥17.8 billion (2015)
Total assetsIncrease CN¥923.8 billion (2015)
Total equityIncrease CN¥133.3 billion (2015)
Owner
Central Government of China(23.05%)
Shanghai Government(21.33%)
China Securities Finance(2.36%)
Websitecpic.com.cn
Footnotes / references
in a consolidated basis[2]
China Pacific Insurance (Group) Co., Ltd.
Simplified Chinese中国太平洋保险(集团)股份有限公司
Traditional Chinese中國太平洋保險(集團)股份有限公司
Pacific Insurance
Simplified Chinese太平洋保险
Traditional Chinese太平洋保險
Second alternative Chinese name
Simplified Chinese中国太保
Traditional Chinese中国太保

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.[4] It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.[5]

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, provision of consulting services relating to asset management[6] 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.

  • A CPIC vehicle unit, seen in Luoyang, China
    A CPIC vehicle unit, seen in Luoyang, China

Listings

Its A shares were listed on the Shanghai Stock Exchange 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.[7] It is planning to issue H shares in the Hong Kong Stock Exchange in near future.[8] CPIC dropped below the IPO price of RMB¥30 on 26 March 2008 and closed at RMB¥27.98.[9]

Its H shares were listed on the Hong Kong Stock Exchange on 23 December 2009 with IPO price of HK$28 per share.[10]

Shareholders

As of 31 December 2015:

References
  1. "ANNOUNCEMENT ON CESSATION OF PRESIDENT" (PDF). China Pacific Insurance. 22 August 2017. Retrieved 29 August 2017 – via Hong Kong Stock Exchange.
  2. "2015 Annual Report" (PDF). China Pacific Insurance. archive of Hong Kong Stock Exchange. 27 April 2016. Retrieved 20 October 2016.
  3. Profile of China Pacific Insurance (Group) Co.,Ltd
  4. China Pacific Insurance Releases Prospectus for A-share IPO
  5. Summary of China Pacific Insurance Group
  6. "Stocks". www.bloomberg.com. Retrieved 2019-03-05.
  7. China Pacific Insurance jumps 61 percent in Shanghai debut
  8. "China Pacific sounds out market for H-share IPO". Archived from the original on 2008-08-25. Retrieved 2008-03-09.
  9. China Pacific Insurance falls below IPO price
  10. HK shares may rise; China Pacific debut eyed
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