The People's Insurance Company of China (Hong Kong), Ltd. (hereafter “PICC HK”), founded in November 2002, is the first overseas subsidiary set up by the People’s Insurance Company (Group) of China Limited (hereafter “PICC Group”).
PICC Group was developed from the People's Insurance Company of China which was established during the same historical period of the foundation of the People's Republic of China. Approved by MAO Zedong and other central leaders, the People’s Insurance Company of China was founded on October 1, 1949. It is renowned as “the eldest son of the insurance industry of new China”, as the pioneer and founder of insurance undertaking nationwide. After more than 70 years, PICC Group has become a financial insurance conglomerate with over ten specialty subsidiaries. Its business scope embraces property insurance, casualty insurance, reinsurance, capital management, real estate and alternative investment, finance and technology and etc. PICC Group completed its public listing in the Stock Exchange of Hong Kong on December 7th, 2012, and as it publicly listed in Shanghai Stock Exchange on November 16th, 2018 as well, PICC Group became the fifth Chinese insurance company which listed both in Shanghai and Hong Kong. PICC Group has been selected as the official partner for Beijing 2022 Olympic and Paralympic Winter Games, following Beijing 2008 Olympic Games, enjoying the reputation as “Double Olympics Insurance Company”. In 2021, PICC Group develops its “Excellence-in-Insurance Strategy”, the 14th Five-Year Plan, Long-Range Objectives through the Year 2035 and “1 + 7” Strategic Framework, devoting itself to building up a topnotch financial insurance group with excellent risk management!
Alongside the development of PICC Group, PICC HK has established a stable and comprehensive service network with its own features for both domestic and overseas business, in its close cooperation with insurance companies, risk assessment firms and loss adjustors in 169 countries and regions, dedicating to offering its clients worldwide with professional insurance solutions for various types of risks. In recent years, PICC HK has proactively provided its service under the “Belt and Road Initiative”, and has successively participated in landmark projects including Hong Kong-Zhuhai-Macao Bridge, Nam Ou River Hydropower Plants in Laos, Kamchay Hydropower Plants in Cambodia. We serve renowned enterprises such as China Communication Construction Group, China COSCO Shipping Corporation Limited, Power Construction Corporation of China, China Petrochemical Corporation, China General Nuclear Power Corporation, with rich experience in underwriting and risk management. PICC HK has been awarded as A- in terms of its financial strength and credit consecutively since 2014 by A.M. Best Co., a world-famous rating company.
In our march towards the future, PICC HK will firmly implement the “Excellence-in-Insurance Strategy” of the Group, by focusing on our mainstream business, pursuing topnotch standard, enhancing our ability and comprehensive service, and promoting “Heartwarming Project” further. We aim to build up PICC HK as a boutique medium-scale company in respect of direct business, a specialized company in respect of reinsurance business and a distinctive company in respect of international business. To develop itself as an important hub for PICC Group to reach Southeast Asia, PICC HK will seize the moment and fully exploit its advantages in talents, technology, service, management and credit to provide better and warmer service to our customers!
Executive Director C.E.O