China Pacific Insurance
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| Public Company | |
| Traded as | SSE: 601601,SEHK: 2601 |
| Industry | Diversified insurance |
| Founded | 1991 |
| Headquarters | Shanghai, China |
Area served | People's Republic of China |
Key people | Chairman: Mr. Gao Guofu |
| Total assets | $133 billion (2015)[1] |
| Website | China Pacific Insurance Company |
| China Pacific Insurance | |||||||
| Simplified Chinese | 太平洋保险 | ||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 太平洋保險 | ||||||
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China Pacific Insurance Group, or CPIC Group is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Company, which was founded in 1991. Its headquarters is in Shanghai.[2]
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.[3] It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.[4]
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 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.
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.[5] It is planning to issue H shares in the Hong Kong Stock Exchange in near future.[6] CPIC dropped below the IPO price of RMB$30 on 26 March 2008 and closed at RMB$27.98.[7]
Its H shares were listed on the Hong Kong Stock Exchange on 23 December 2009 with IPO price of HK$28 per share.[8]
References
- ↑ http://www.forbes.com/global2000/list/5/#header:assets_sortreverse:true
- ↑ Profile of China Pacific Insurance (Group) Co.,Ltd
- ↑ China Pacific Insurance Releases Prospectus for A-share IPO
- ↑ Summary of China Pacific Insurance Group
- ↑ China Pacific Insurance jumps 61 percent in Shanghai debut
- ↑ China Pacific sounds out market for H-share IPO
- ↑ China Pacific Insurance falls below IPO price
- ↑ HK shares may rise; China Pacific debut eyed
