China Pacific Insurance

China Pacific Insurance
中国太保
Type Public Company
Industry Diversified insurance
Founded 1991
Headquarters Shanghai, People's Republic of China
Area served People's Republic of China
Key people Chairman: Mr. Gao Guofu
Website China Pacific Insurance Company

China Pacific Insurance Group (SSE: 601601,SEHK: 2601), or CPIC Group, was established on the basis of the former China Pacific Insurance Company, which was founded in 1991. Its headquarters are in Shanghai.[1]

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.[2]It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.[3]

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.[4]It is planning to issue H shares in the Hong Kong Stock Exchange in near future.[5] CPIC dropped below the IPO price of RMB$30 on 26 March 2008 and closed at RMB$27.98.[6]

Its H shares were listed on the Hong Kong Stock Exchange in 23 December, 2009 with IPO price of HK$28 per share.[7]

References

  1. ^ Profile of China Pacific Insurance (Group) Co.,Ltd
  2. ^ China Pacific Insurance Releases Prospectus for A-share IPO
  3. ^ Summary of China Pacific Insurance Group
  4. ^ China Pacific Insurance jumps 61 percent in Shanghai debut
  5. ^ China Pacific sounds out market for H-share IPO
  6. ^ China Pacific Insurance falls below IPO price
  7. ^ HK shares may rise; China Pacific debut eyed

External links