PICC
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PICC

PICC
PICC
People’s Insurance Company of China Group (PICC) was founded in 1949, and has 2.42 million institutional insurance clients and about 130 million individual insurance customers. It is controlled by China’s Ministry of Finance, with an 88.7 per cent stake, while the National Social Security Fund (NSSF) holds the remaining 11.3 per cent. It was due to hold an initial public offering in Hong Kong in November 2012.
Chairman / President
Wang Yanke
CEO / Managing Director
Zhao Peng
CFO / Finance Director
Zhou Houjie
Industry
Insurance
Website
picc.com
Headquarters address
No. 9 Fuxingmennei Avenue, Xicheng District, Beijing 100036, China
Stock Code
SEHK:2333
SSE:601319
Year founded
1949
Zhang Tao, then deputy managing director of the International Monetary Fund (IMF), speaking at the Peterson Institute for International Economics in Washington DC on October 5, 2016. Photo: Xinhua
Central banks

Former PBOC deputy governor lands top role at Bank of International Settlements

Zhang Tao, former PBOC deputy governor, is joining the Bank of International Settlements as its Asia-Pacific chief representative based in Hong Kong.

Banking & finance

Ping An, PICC lag global peers in exiting coal underwriting, reports says

Insurance

Henan floods to trigger record insurance claims of US$1.7 billion

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Insurance

China transfers US$4.7 billion of PICC shares to fix pension shortfall

China is facing a widening shortfall in pensions schemes as the population ages and debt pressure rises.

China transfers US$4.7 billion of PICC shares to state pension fund, part of a programme to shift assets to make up for shortfall

Chinese insurer PICC P&C's first-half profit rises 16.8pc on underwriting

PICC P&C, the mainland's largest non-life insurer, said its net profit in the six months to June totalled 7.6 billion yuan (HK$9.7 billion), according to a Hong Kong stock exchange filing yesterday. That beat expectations for a 34 per cent profit drop.

PICC to lift capital with 5.8b yuan rights issue

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Doubt cast on PICC health unit's huge loss

PICC Health Insurance, controlled by Hong Kong-listed PICC Group and DKV, the largest private health insurance company in Europe, said last year's net losses amounted to 7.43 trillion yuan (HK$9.35 trillion), more than 200 times its 28.93 billion yuan in assets.

Doubt cast on PICC health unit's huge loss
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There is life in the IPO

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Engineering giant makes stellar debut on exchange

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Share offerings expected to gain momentum

Hong Kong IPO market performance
IPO

PICC's debut success kicks China Silver and CIMC into action

Chen Wantian (left) says China Silver's average turnover of inventory has dropped to 48 days in the first half of this year from 85 in 2010. Photo: Dickson Lee
China economy

Foreign insurance firms expect strong growth in China

IPO

IPO Preview: PICC and the Powl

PICC jumps in debut trading, lifted by strong retail demand

Shares of Chinese insurer PICC rose sharply on its debut on Friday as retail investors flooded in to speculate after Hong Kong's biggest IPO in two years.

Retail investors are flocking to PICC, believing that its strong arranger base and substantial cornerstone investors should help the share price to outperform. Photo: Bloomberg
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Hang Seng Index

Hang Seng Index breaks 22,000 on hot money surge

Hong Kong Exchanges and Clearing increased the size of its first share offering in 12 years to US$1 billion. Photo: Reuters
IPO

State firms line up to back PICC listing

IPO

IPO preview: investment bank spin

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Opinion | There is little comfort from the line-up of main investors

A highly regulated environment

Mixed reaction from investors for trading debuts in Hong Kong

Investors will find value in PICC, says chairman Wu Yan, above.
IPO

PICC builds listing base on 17 cornerstone investors

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PICC goes to market with a jumbo deal

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Firms see bankers as key to listing success

PICC recently appointed underwriters for its potential US$3 billion initial public offering to be launched this year in Hong Kong.
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Five firms plan to raise US$613m in Hong Kong as investor sentiment picks up

IPO

IPO Preview: PICC

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US$3b offering by state insurer PICC seen heating up Hong Kong market

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