# People's Insurance Company of China

People's Insurance Company of China is an Insurance based in Beijing, China.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Beijing, China
- **Region:** Asia
- **Address:** No. 88 West Chang'an Avenue, Xicheng District, Beijing, China
- **Founded:** 1949
- **Assets under management:** Undisclosed
- **Website:** picc.com
- **LinkedIn:** https://www.linkedin.com/company/people%27s-insurance-company-of-china
- **Wikidata:** Q1807264

## Regulatory record

- **Reports private funds:** No

## About

People's Insurance Company of China (PICC) was established in 1949 as the country's primary state insurance vehicle, incorporated the same year as the founding of the modern Chinese state. The Ministry of Finance holds approximately 60.84% of the entity, while the National Council for Social Security Fund maintains a roughly 12.8% stake, cementing its role as a sovereign-linked institutional allocator. PICC deploys capital across a diversified alternative investment portfolio with confirmed exposure to commercial real estate and InsurTech. The firm owns the PICC Building on West Chang'an Avenue in Beijing and the PICC Financial Building in Shenzhen's Luohu District. In the venture space, PICC partnered with Plug and Play China to launch the 'Insurance and Innovation Space,' an Insurtech accelerator designed to capture early-stage technology relevant to its core underwriting and claims operations. Geographically, the firm maintains a dual-headquarters structure across northern and southern China, with investment activity extending globally. The firm operates through a sprawling structure of listed and unlisted subsidiaries, with its property and casualty unit, PICC P&C, representing one of the largest non-life insurers in Asia by premium volume. PICC executives have historically led the Insurance Association of China, reflecting the firm's regulatory proximity and industry-shaping influence. The China PICC Charity Foundation provides a separate vehicle for philanthropic activity. PICC's structural differentiator is its dual identity as both a commercial insurance underwriter and a policy-aligned state allocator. Unlike pure financial investors, its balance sheet is shaped by premium float from mandatory and semi-mandatory insurance lines, creating a distinct cost-of-capital advantage in illiquid markets. This architecture allows patient capital deployment into domestic infrastructure and selective global alternatives without the redemption pressures faced by third-party asset managers.

## Sectors

- InsurTech
- Real Estate
- Infrastructure

## Offices

- Shenzhen, China

## People

- Ministry of Finance of the People's Republic of China — Controlling Shareholder
- National Council for Social Security Fund — Second-Largest Shareholder

## Questions

### Who controls People's Insurance Company of China?

The Ministry of Finance of the People's Republic of China is the controlling shareholder with approximately 60.84% ownership. The National Council for Social Security Fund (SSF) holds the second-largest stake at around 12.8%. This ownership structure makes PICC a state-directed financial institution with investment priorities aligned to national policy objectives.

### Does PICC invest in venture capital or technology?

Yes, through targeted partnerships rather than traditional venture funds. PICC collaborated with Plug and Play China to establish an 'Insurance and Innovation Space' InsurTech accelerator, sourcing early-stage companies relevant to insurance technology. This gives PICC a direct window into underwriting, claims, and distribution innovation.

### How is PICC related to the Chinese government's policy agenda?

PICC executives have historically served as presidents of the Insurance Association of China (IAC), a regulatory-adjacent body that shapes industry standards. Combined with majority state ownership through the Ministry of Finance, PICC functions as both a commercial insurer and a tool for financial policy implementation, particularly in infrastructure and social insurance programs.

### How does PICC source its investment capital?

Unlike asset managers that raise external funds, PICC's investment capital derives from insurance premium float — the pool of premiums collected before claims are paid. Its property and casualty unit ranks among Asia's largest non-life insurers by premium volume, providing a low-cost, long-duration capital base for alternative investments.

## Related profiles

- [Pentel Pension Fund](https://altss.com/profile/pentel-pension-fund)
- [Peoria Firemen's Pension Fund](https://altss.com/profile/peoria-ill-firemen-s-pension-fund)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/people-s-insurance-company-of-china

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology