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China Pacific Property Insurance Co., Ltd

China Pacific Property Insurance Co., Ltd. (hereinafter referred to as “CPPIC”), a subsidiary of China Pacific Insurance (Group) Co., Ltd., is dedicated to providing customers with comprehensive property insurance products and services. Headquartered in Shanghai, CPPIC had a registered capital of RMB 19.47 billion as of the end of 2020.

 

CPPIC covers a range of insurance businesses such as automobile insurance, property insurance, liability insurance, agricultural insurance, guarantee insurance, accidental injury insurance, short-term health insurance and other insurance businesses approved by China Banking and Insurance Regulatory Commission, and its service has been extended to aviation, aerospace, power and energy, petrochemical industry, shipping, textile, tobacco, mechanical equipment, electronic communication, finance and trade, technological innovation, infrastructure, agriculture, forestry, animal husbandry and fishery, etc. CPPIC has completed its deployment in various provincial-level administrative regions in Chinese mainland, with 41 branches nationwide, 1 shipping and insurance division operation center, and more than 2,900 center branches, branch companies, sales departments and marketing service departments.


Aspiring to become a industry leader for healthy and steady development, CPPIC adheres to be customer-driven, and focuses on the main business of insurance. It continues to refine its insurance business, and constantly innovates insurance products and services. It strives to improve customer experience, and provides customers with a spectrum of risk protection services. In 2020, the company achieved a revenue of RMB 147.734 billion in property insurance business, growing at 11.1% year-on-year. The total assets and net assets of the company were RMB 184.066 billion and RMB 45.346 billion, respectively, and reaped a net profit of RMB 5.209 billion, realizing a sustainable and healthy development.

 

CPPIC continues to maintain its pioneering and innovative spirit. With perfect corporate governance, leading service level and excellent business performance, it has won continuous recognition from the industry regulatory bodies and authoritative rating agencies. The companys insurance financial strength rating of Moodys Investors Service is A1, the corporate credit rating of China Chengxin International Credit Rating Co., Ltd. is AAA, and the issuer credit rating and financial strength rating of Standard & Poor is A. In recent years, the company has been successively rated as Class A in business, Class AA in service (the highest rating in the industry), Class B in corporate governance and in the forefront in SARMRA, becoming a new paradigm for industry development, service and corporate governance.

 

China Pacific Insurance (Group) Co. Ltd. is a leading insurance group in China, and the first insurance company simultaneously listed in Shanghai, Hong Kong and London Stock Exchanges.It was listed on the Fortune Global 500 for the 11th consecutive year, ranking 158th.


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