# 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.cn
- **LinkedIn:** https://www.linkedin.com/company/people%27s-insurance-company-of-china

## Regulatory record

- **Reports private funds:** No

## About

People's Insurance Company of China (PICC) is a Chinese insurance services provider founded in 1949. Based in Beijing, it offers life insurance, annuity insurance, health insurance, accident insurance, and other business insurance.

## Sectors

- Insurance
- InsurTech
- Alternative Investments
- Real Estate

## Offices

- Shenzhen, China

## People

- Ministry of Finance of the People's Republic of China — Controlling Shareholder (~60.84% ownership)
- National Council for Social Security Fund — Second-largest Shareholder (~12.8% ownership)

## Questions

### Who controls investment decisions at PICC?

PICC's investment strategy is ultimately overseen by its board, which is dominated by the Ministry of Finance as the controlling shareholder with roughly 60.84% ownership. The National Council for Social Security Fund, holding about 12.8%, also exerts significant influence. Day-to-day asset allocation is managed by internal investment teams operating within the firm's insurance liability framework and state policy guidance.

### What is the relationship between PICC and the Chinese government?

PICC was founded by the Ministry of Finance in 1949 and remains majority-owned by it. Combined with the Social Security Fund's stake, state-affiliated entities control over 73% of the company. This structure makes PICC both a commercial insurer and an instrument of national financial policy, with its investment activity reflecting sovereign priorities alongside commercial return objectives.

### Which sectors does PICC explicitly target in its investment portfolio?

Publicly confirmed investment activity centers on real estate, with the PICC Building in Beijing and PICC Financial Building in Shenzhen serving as flagship assets. Through its Plug and Play China partnership, the firm has demonstrated targeted interest in insurtech — startups developing digital underwriting, claims processing, and insurance distribution technologies. Broader asset allocation includes significant fixed income and public equity positions.

### How is the China PICC Charity Foundation separated from investment operations?

The China PICC Charity Foundation operates as PICC's philanthropic arm, but the governance separation between the foundation and the parent insurer's investment activities is not publicly documented. For institutional allocators evaluating governance, the foundation's existence signals structured corporate social responsibility activity typical of large Chinese state-linked enterprises.

### Does PICC operate as a pure insurance company or does it function more like a sovereign fund?

PICC occupies a hybrid position. It is a publicly listed insurance company on the Hong Kong Stock Exchange, yet its controlling shareholder is the Ministry of Finance and its second-largest is the Social Security Fund. This ownership structure, combined with its founding mandate alongside the PRC, means its investment activity carries sovereign characteristics that distinguish it from purely market-driven insurers.

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

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