In addition, in response to the problems found in the past law enforcement inspections, the financial authorities imposed administrative penalties on the Postal Savings Bank of China, Ping An Bank and PICC Property and Casualty Company.

此外，针对以往执法检查中发现的问题，金融部门对中国邮政储蓄银行、平安银行、人保财险公司进行了行政处罚。

Hu Ping, deputy general manager of the international business department at PICC Property and Casualty's Shanghai branch, said they are likely to introduce new products for IC companies in the near future.

中国人保财产保险上海分公司国际业务部副总经理胡平表示，他们很可能在不久的将来为IC公司推出新产品。

It also estalished partnership with Ancheng Property and Casualty Insurance.

The insurance, jointly launched with China Continent Property & Casualty Insurance Co Ltd and ZhongAn Online P&C Insurance Co Ltd, is currently available for dogs and cats aged three months to 10 years old.

All its subsidiaries, including its property and casualty businesses, life insurance businesses and health insurance businesses, all saw their net profits reaching a record high since 2007.

Dajia Property & Casualty Insurance will also be formed to take over part of the insurance business, assets and liabilities of Anbang Property & Casualty Insurance, the commission said.

Paris-based AXA SA will become the first foreign insurer to own 100 percent of a top 20 property and casualty insurance company in China once it receives regulatory approval for the acquisition.

With a 50 percent stake in AXA Tianping Property & Casualty Co, AXA announced on Monday it had entered into an agreement with the domestic shareholders to acquire the remaining 50 percent stake in the company for a total of 4.6 billion yuan ($662 million).

The other three investors are National Council for Social Security Fund (7 billion yuan), China Property & Casualty Reinsurance Co Ltd (2.8 billion yuan), and China Continent Property & Casualty Insurance Co Ltd (2.2 billion yuan).

With total assets of 988 billion yuan ($154 billion), PICC reported net profits of 23.8 billion yuan last year, with its property and casualty business contributing more than 80 percent, according to the company's IPO prospectus.

We have life, property and casualty insurance products, and we believe that there are more opportunities by having both life and general insurance products under one umbrella.

Huahai Property & Casualty Insurance Co Ltd, a company specializing in marine insurance, reported a 31.1 percent premium income increase in 2017.

It ranked 37th among 84 property and casualty insurance companies last year in terms of its premium income.

So far, CPIC Group has a wide of range of licenses including life insurance, property and casualty insurance, pension, health insurance, agriculture insurance and asset management.

With a full branch license granted by the China Insurance Regulatory Commission, Allianz is able to provide its suite of commercial and consumer property and casualty solutions to customers in Beijing, including travel, personal accident, health and motor insurance, as well as liability, marine, construction, energy, financial lines and trade credit.

The Beijing branch will be Allianz China General Insurance's third branch in the country after Guangdong and Shanghai and, together with its sale services office in Shenzhen, completes Allianz's property and casualty coverage across China's metropolitan cities.

Investors are confident that China Literature's stock price would see a stronger growth on its first day of trading than the mainland's first digital insurer ZhongAn Online Property & Casualty Insurance, which went public on the Hong Kong bourse in September.

ZhongAn Online Property and Casualty Insurance Co Ltd Chairman Ou Yaping (left) and Chief Executive Officer Chen Jin attend the debut of the company at the Hong Kong Exchanges.

[Photo/Agencies]ZhongAn Online Property and Casualty Insurance Co Ltd saw its share price surge 15.6 percent to open at HK$69($8.83) on its first day of trading.

Visitors pass the exhibition stand of ZhongAn Online Property and Casualty Insurance Co Ltd in Hangzhou.

[Long Wei/for China Daily]ZhongAn, backed by '3 Mas', hopes to raise $1.52 billionZhongAn Online Property and Casualty Insurance Co Ltd, the mainland's first internet-only insurer, opened its retail book on Monday for a Hong Kong initial public offering primed to raise up to HK$11.9 billion.

Du also spoke highly of the insurance programs BeauCare Clinics and the Beijing arm of Ping An Property & Casualty Insurance Co jointly developed for medical aesthetic doctors and patients.

However, data from Ping An Property & Casualty Insurance showed the industry has a high incidence of botched procedures and incidents, with 40,000 cases recorded annually.

The Guangdong branch of Ping An Property & Casualty Co Ltd jointly insures all risks and liabilities of the fuselage, and the company said it would follow up on the handling of the accident as well as the search and rescue progress.

The scope of insurance coverage includes accident medical reimbursement, accident casualty and even reimbursements for trip cancellations.

As the underwriter for property and casualty insurance for the 2022 Olympic and Paralympic Winter Games, People's Insurance Co of China Ltd has extended its coverage beyond Olympic venues.

Ping An Property & Casualty Insurance Company of China Ltd recently issued the first batch of insurance policies which can be paid in China's central bank digital currency, the digital yuan, in Shenzhen, Guangdong province.

The CBIRC's Hainan office will step up efforts to introduce foreign banks and insurers, actively seek to attract capable investors that meet regulatory criteria to establish financial institutions, including property and casualty insurers, life insurance companies and reinsurance companies, in Hainan.

The Guangzhou branch of the PICC Property and Casualty co-signed insurance policies with two companies on Thursday for overseas intellectual property right infringement liability, the first policies of this kind in the country.

Dajia also set up a unit to take over some of the insurance policies, assets and liabilities of Anbang's property and casualty business.

Beijing-headquartered cosmetic medical clinic franchise BeauCare Clinics has teamed up with the Beijing arm of Ping An Property & Casualty Insurance Co to develop new insurance products for doctors and patients.

Data from Ping An Property & Casualty Insurance showed the cosmetic medical market in China has surpassed 450 billion yuan, with a workforce of more than 30 million.

He said that foreign life insurers and property and casualty insurers contributed less than 7 percent of China's premium income due to insufficient localization, cultural differences and regulatory restrictions.

"As one of the most important subsidiaries of the group, PICC Property and Casualty Co Ltd will strive to keep its synthetic fund cost rate competitive with its international peers and boost the proportion of the nonautomotive insurance," said Miu.

Industry statistics show that PICC Property and Casualty's nonautomotive insurance sector has been growing in the past three years, increasing from 31.8 percent in the first three quarters of 2017 to 36.9 percent in the same period of 2018 and then 43 percent this year.

French insurer bullish on local market, eyes middle-income group for growthAXA is a stone's throw way from becoming China's biggest foreign-funded property and casualty (P&C) insurer once the China Banking and Insurance Regulatory Commission approves its purchase of the remaining 50 percent stake of its joint venture in AXA Tianping, industry officials said.

AXA announced in November it had agreed with AXA Tianping Property & Casualty Insurance Co Ltd on the purchase of the latter's 50 percent stake for 4.6 billion yuan ($642 million).

"It will encourage domestic companies to strengthen their services and products," said Ma, adding the further opening-up of China's insurance sector has attracted 22 foreign-funded property and casualty insurance companies by the end of July.

As if in anticipation of these reforms, French insurance heavyweight AXA announced late last year that it will buy the remaining 50 percent in its Shanghai-based joint venture AXA Tianping Property& Casualty Insurance Company.

Anbang Insurance Group, together with its property insurance subsidiary AnBang Property & Casualty Co Ltd, will sell Hexie Health Insurance Co Ltd to five companies, the announcement said.

The regulator also approved the global property and casualty insurer Chubb to increase its stake in Huatai Insurance Group from 20 percent to 26 percent.

"According to Zhang Xiaoli, vice-president of PICC Property and Casualty Co Ltd, a key subsidiary of PICC group, the rapid premium growth of non-motor insurance was partly attributed to the company's effective marketing strategies.

PICC Property and Casualty Co Ltd or PICC P&C, a subsidiary listed on the Hong Kong bourse, reported a 21.8 percent annual drop in net profits to 15.5 billion yuan during the same period, due to declines in underwriting profit and investment income.

CPIC has developed a of range of licenses including life insurance, property and casualty insurance, pensions, health insurance, agriculture insurance and asset management over the last three years.

On the basis of wholly managing its existing life insurance, and property and casualty insurance, the holding company will further build the group's asset management and reinsurance business platforms, fully integrate its businesses in the mainland, and serve as the regional headquarters of Allianz, said Zhou at a news conference on Thursday.

cn, Anxin Property & Casualty Insurance Co Ltd, and 1an.

PICC Property and Casualty Co Ltd or PICC P&C, a key subsidiary of PICC group, has seen a 9.6 percent year-on-year increase of investment profit in the same period due to investment in long-term bonds, according to the company's top management.

Regulators approve insurance giant's plans to list on Shanghai bourseThe People's Insurance Co (Group) of China Ltd, the country's largest property and casualty insurer by premium income, has received regulatory approval to raise at least $1.6 billion through a long-delayed IPO on the Shanghai Stock Exchange.

With total assets of 988 billion yuan ($154 billion), PICC reported net profit of 23.8 billion yuan last year, with its property and casualty business contributing more than 80 percent, according to the company's IPO prospectus.

Analysts said that PICC, while consolidating its leading position in the property and casualty business, needs to boost the strength of its life and health insurance arms to better balance its business structure.

We are committed to serving our valued customers across a comprehensive suite of protection, health, property and casualty, as well as investment and asset management solutions," the German insurer said.

Foreign property and casualty insurers had a market share of 1.96 percent while life insurers had a market share of 7.43 percent, according to official data.

The country already scrapped shareholding limits on property and casualty insurance JVs for foreign players.

Being the first European insurer entering the Chinese market, Allianz has been operating in the country for 19 years and has developed a full line of businesses including life insurance, property and casualty insurance and asset management.

The group's main businesses are property and casualty insurance, life insurance, insurance brokerage and asset management.

Several risky incidents over the past year have shocked the market, including the fallout of a debt default scandal by telecommunication firm Cosun Group that involved Zheshang Property and Casualty Insurance Co.

The outstanding value of the fund stood at 107.8 billion yuan ($16.3 billion) by the end of July, with property and casualty insurance funds accounting for 63.7 percent of the overall fund.

And internet-only insurance firm ZhongAn Online Property and Casualty Insurance Co Ltd saw its share price jump 18 percent on its Hong Kong Stock Exchange's debut Sept 28.

Hua Shan, vice-president of PICC Property and Casualty Co Ltd, said the new policy would force insurers to improve the value of their products and services instead of simply competing for cheaper prices.