PICC Life Insurance Company Limited

PICC Life Insurance Company Limited (中国人民人寿保险股份有限公司), commonly known as PICC Life, is a Chinese life insurance company and a core subsidiary of The People's Insurance Company (Group) of China Limited (PICC Group). It was established in 2005 as the group's dedicated life insurance platform, complementing PICC's long-standing property and casualty business. The company is headquartered in Beijing and operates a nationwide distribution network across mainland China, offering individual and group life insurance, health insurance, accident insurance, and annuity and pension products. As part of PICC Group, one of China's largest state-backed insurance groups, PICC Life benefits from a well-recognized brand, extensive agency and bancassurance channels, and a broad customer base. Its product range typically includes traditional life policies, participating and universal life products, critical illness and medical riders, and savings-oriented annuities designed for retirement planning. The company serves both individual policyholders and corporate clients, including group employee benefit schemes. PICC Life operates in a highly competitive Chinese life insurance market alongside major players such as China Life, Ping An Life, and CPIC Life. Its strategy emphasizes the PICC brand heritage, multi-channel distribution, and digitalization of sales and services. The company is not separately listed; it is consolidated within PICC Group, whose shares trade on the Hong Kong and Shanghai stock exchanges. This dossier reflects the brand's identity as a life insurance subsidiary and its role within the broader PICC group structure.

PICC Life Insurance Company Limited was established in 2005 as the life insurance subsidiary of The People's Insurance Company (Group) of China Limited (PICC Group). Its creation marked the group's formal entry into the life insurance sector, complementing PICC's established property and casualty insurance operations. The company was set up to capture growth in China's rapidly expanding life and health insurance market, leveraging the PICC brand and distribution infrastructure. In its early years, PICC Life focused on building a nationwide presence, recruiting agents, and forming bancassurance partnerships with major Chinese banks. It developed a product portfolio spanning traditional life, health, accident, and annuity products. The company also expanded into group insurance, offering employee benefit solutions to corporate clients. A significant development came in 2012 when PICC Group listed on the Hong Kong Stock Exchange, followed by a Shanghai listing in 2018. These listings increased the group's capital strength and public profile, indirectly supporting PICC Life's growth. As part of the group, PICC Life has continued to invest in digital platforms, online sales, and customer service technologies to compete with other major Chinese life insurers. Throughout its history, PICC Life has operated under the regulatory framework of China's insurance regulator, adapting to evolving solvency, product, and sales practice rules. It remains a core component of PICC Group's insurance offering and a recognized brand in China's life insurance market.

• 2018

  PICC Group completes a listing on the Shanghai Stock Exchange.

• 2012

  Parent PICC Group lists on the Hong Kong Stock Exchange.

• 2005

  PICC Life Insurance Company Limited is established as the life insurance subsidiary of PICC Group.

• Individual life insurance

  Traditional and participating life policies for individual customers.

• Health and critical illness insurance

  Medical and critical illness coverage, often sold as riders or standalone products.

• Annuities and pension products

  Savings-oriented retirement and annuity solutions.

• Group insurance

  Employee benefit and group life/health plans for corporate clients.

• 2020

  Source

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