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. Its headquarters is in Shanghai.
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. It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.
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.
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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. It is planning to issue H shares in the Hong Kong Stock Exchange in near future. CPIC dropped below the IPO price of RMB¥30 on 26 March 2008 and closed at RMB¥27.98.
Its H shares were listed on the Hong Kong Stock Exchange on 23 December 2009 with IPO price of HK$28 per share.
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- Central People's Government of China (State Council) (23.05%)
- State-owned Assets Supervision and Administration Commission (SASAC) of the State Council
- Baosteel Group (14.93%)
- The Ministry of Finance of the People's Republic of China (via China Tobacco)
- via Shanghai Tobacco Group (5.17%)
- via Hongta Group (1.73%)
- Central Huijin Investment (1.22%)
- State-owned Assets Supervision and Administration Commission (SASAC) of the State Council
- SASAC of the People's Government of Shanghai City (21.33%)
- Shenergy Group (13.52%)
- Shanghai State-Owned Assets Operation Co., Ltd. (5.04%)
- Shanghai Jiushi (Group) Co., Ltd. (2.77%)
- China Securities Finance Co., Ltd. (2.36%)
- general public (53.26%)
Source of the article : Wikipedia
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