China Pacific Insurance (Group) Co., Ltd. (CPIC) known as Pacific Insurance, is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 approved by the People's Bank of China. Its headquarters is in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

. CPIC Group is the second largest

property insurance Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or bo ...

company (after

People's Insurance Company of China The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder. The group contains the major subsidiaries: PICC Asset Managem ...

) and the third largest

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

company (after China Life Insurance and

Ping An Insurance Ping An Insurance known also as Ping An of China (), full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries provide insurance, banking, asset management, financial, healthcare services. Th ...

) in

Mainland China "Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater China. ...

. It provides integrated insurance services, including

and

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

, through its

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

. The company offers life and property insurance products and services through its

, 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, provision of consulting services relating to asset management and operation of insurance assets. The company's property insurance products include

car insurance Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury r ...

, insurance of family's properties,

liability insurance Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the i ...

, investment type insurance and

accident insurance Accident insurance is a type of insurance where the policy holder is paid directly in the event of an accident resulting in injury of the insured. The insured can spend the benefit payment however they choose. Accident insurance is complementary to ...

/injury insurance, while its life insurance products include endowment insurance,

health insurance Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among ma ...

, juvenile assurance, insurance cover services and petty insurance.

Listings

Its A shares were listed on the

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Exc ...

on December 25, 2007, with

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

price 30 yuan per share. At the first trading day, its share price closed at 48.17 yuan, 61% more than its IPO price. It is planning to issue

H shares H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

in the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repor ...

in near future. CPIC dropped below the IPO price of RMB¥30 on 26 March 2008 and closed at RMB¥27.98. Its

were listed on the Hong Kong Stock Exchange on 23 December 2009 with IPO price of HK$28 per share.HK shares may rise; China Pacific debut eyed
/ref>

Shareholders

: * Central People's Government of China (State Council) ** State-owned Assets Supervision and Administration Commission (SASAC) of the State Council ***

Baosteel Group China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned pe ...

(14.93%) ** The

Ministry of Finance of the People's Republic of China The Ministry of Finance of the People's Republic of China () is the cabinet-level executive department of the State Council which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations a ...

(via China Tobacco) *** via

Shanghai Tobacco Group Shanghai Tobacco Group Co., Ltd. is a subsidiary of state-owned China Tobacco. The company produced Chunghwa, Double Happiness, Zhongnanhai and other brands. The company also known as a minority shareholders of Bank of Communications, Orient Sec ...

(5.17%) *** via (1.73%) **

China Securities Finance China Securities Finance Corp., Ltd. (CSF) is a Chinese state-owned financial services company founded in 2011. The company funded securities firm of China (firm that provides investment banking and brokage) for their margin business as well as ...

Co., Ltd. (2.36%) **

Central Huijin Investment Central Huijin Investment Co., Ltd. is a Chinese investment company owned by the Central People's Government, government of the People's Republic of China. Established in 2003, it became a wholly owned subsidiary of China Investment Corporation, w ...

(1.22%) * SASAC of the

Shanghai Municipal Government The Politics of Shanghai is structured in a dual party-government system like all other governing institutions in the mainland of the People's Republic of China (PRC). In the last few decades the city has produced many of the country's eventu ...

(21.33%) ** Shenergy Group (13.52%) ** Shanghai State-owned Assets Operation Co., Ltd. (5.04%) ** Shanghai Jiushi (Group) Co., Ltd. (2.77%) * general public (53.26%)

References

External links

* {{Authority control Companies formerly in the Hang Seng China Enterprises Index Insurance companies of China H shares Companies owned by the provincial government of China Companies based in Shanghai Financial services companies established in 1991 Chinese brands China Tobacco Baowu Companies listed on the Shanghai Stock Exchange Companies in the CSI 100 Index Companies listed on the Hong Kong Stock Exchange Companies listed on the London Stock Exchange Chinese companies established in 1991