Skip to main content

Here are the 5 Largest Chinese Insurance Companies



The Chinese insurance market has grown at a furious pace in recent years. Between 2000 and 2014, the industry grew about 1,200% in size as measured by written premiums. During this same period, most of the largest Chinese insurance companies listed shares on the Hong Kong Stock Exchange and other exchanges as part of an effort to reform the industry by reducing government control, increasing transparency, and exposing the companies to the demands of the market and shareholders. Today, the biggest insurance companies in China rank among the largest companies in the world in terms of market capitalization.

China Life Insurance Co., Ltd.

 With a market capitalization of about $107 billion, China Life Insurance Co., Ltd. (NYSE: LFC) is the biggest insurance company in China and one of the top insurance companies in the world. China Life traces its roots to the founding of the People's Republic of China in 1949. It operates life insurance and property and casualty insurance businesses, and it also offers asset management services and other financial services.

China Life maintains a substantial nationwide service network, with nearly 750,000 dedicated agents and more than 60,000 service outlets. The company's customer base approaches a combined 200 million people in individual and group life insurance policies, long-term health insurance policies and annuities. China Life is listed on the Shanghai Stock Exchange, the Hong Kong Stock Exchange and the New York Stock Exchange.

Ping An of China

 Ping An of China was founded in 1988 and held its initial public offering (IPO) in 2004. While the company began as a property and casualty insurance company, it has since expanded into the life insurance, banking, online financial services and wealth management businesses with the stated goal of becoming a comprehensive financial services provider. It has a market capitalization of about $90 billion.

Ping An employs more than 225,000 full-time employees and partners with more than 625,000 sales agents across China. The company counts more than 89 million customers across its business units. Ping An is listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange.

China Pacific Insurance

 China Pacific Insurance Group is an integrated insurance provider offering property and casualty insurance, life insurance and reinsurance products, as well as asset management and investment services. The company counts more than 300,000 agents across its businesses and serves about 80 million customers across the country. China Pacific Insurance traces its roots to 1991. It was listed on the Shanghai Stock Exchange in 2007 and the Hong Kong Stock Exchange in 2009. It has a market capitalization of more than $33 billion.

People's Insurance Company of China Group

 People's Insurance Company of China Group was established in 1949. Today, its subsidiaries count more than 300 million customers in property and casualty insurance, life insurance, health insurance, and real estate. Its most substantial subsidiary is PICC Property and Casualty Company, which sells a wide variety of non-life insurance products, including auto, homeowners, commercial property and agricultural policies. People's Insurance Company of China Group owns approximately 69% of outstanding PICC Property and Casualty shares. People's Insurance Company of China Group is listed on the Hong Kong Stock Exchange. It has a market capitalization of about $21 billion.

New China Life Insurance

 New China Life Insurance Company was founded in 1996 and has quickly grown into a top-five company in the industry. While its primary business remains life insurance, the company also has growing business interests in the investment industry and the health care industry. New China Life Insurance counts more than 26 million customers, 175,000 agents and 1,600 business locations across the country. The company was listed on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange in 2011. It has a market capitalization of more than $17 billion.
Labels:

Comments

Post a Comment

Popular posts from this blog

Are Mesothelioma Lawsuit Settlements Taxable?

Are Mesothelioma Lawsuit Settlements Taxable? Mesothelioma Explained prides itself in advocating for mesothelioma patients and their families. You should know that you are not alone in your fight against mesothelioma cancer. People who file for a mesothelioma lawsuit settlement with a chance for a significant payout are interested to know if the claim will be taxable. Given the fact that more taxes are paid for a more substantial sum of money, they are concerned about the potential significant amount that may be taken out of this settlement. Fortunately, the majority of these settlements are tax-free, to a certain degree. Taxation is complicated, and knowledge about what to do and what not to pay tax on can be the most complicated.  Several factors can tell if the victims will have to pay tax on the money they are awarded during a settlement. Severe physical injuries, such as herniated discs and broken bones may qualify under the personal injury statute. On the other han...
Post a Comment
Read more

Mesothelioma Lawsuit Settlement Amounts

Mesothelioma Settlements Many people diagnosed with mesothelioma , or who have passed away because of this terrible disease, were diagnosed after working under unsafe conditions over which they had no control. Workers exposed to harmful asbestos for years on the job in construction, in the military, in shipyards, and in other industrial settings, without understanding or being aware of the risks, are now paying the price. Decades after inhaling or ingesting asbestos dust and fibers on the job, some of these workers were diagnosed with mesothelioma. Many of them are now fighting for settlements to get fair compensation for the high costs of living with this devastating disease. The average mesothelioma settlement amount is around $1 million to $1.5 million, but the exact amount any victim can get depends on individual factors. Asbestos and Mesothelioma Victims Asbestos was used in many industries and as a component a wide range of different materials for several decades....
Post a Comment
Read more

Learn Forex Factory

How to Use Forex Factory Free Trading Tools — A Complete Guide Have you heard of Forex Factory? You probably do since it’s the leading forum for Forex traders since 2004. But here’s the thing… …most traders don’t take the full advantage of what Forex Factory has to offer. All they do is to go into the forum, enter the “Trading Systems” thread, and look for new trading systems. Then they apply the strategies for a while and when it fails, they got back to the forum and look for “the next best thing”. And the cycle rinse repeats itself. No wonder most traders fail because they are in the cycle of hopping from one trading strategy to the next. Now… Forex Factory is more than just a place to find new trading strategies. In fact, they offer useful trading tools that will improve your trading experience, and it doesn’t cost you a dime. Are you ready? Then let’s begin… Forex Factory calendar — stay ahead of the news and never get caught with your pants down Th...
Post a Comment
Read more