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publicFinancial Strength: AM Best A / Moody's A2

PICC (People's Insurance Company of China)

中国人民保险集团

83.6Score

★★★☆☆3.7

Customer satisfaction · 500.0M members

AM Best: A (P&C)(2025)Moody's: A2 (Life)(2025)Fortune Global 500 Member(2024)

PICC is China's largest property & casualty insurer and oldest insurance company, founded the same year as the People's Republic. With net premiums written of USD 70.4 billion (2023) and market capitalization of approximately USD 51.6 billion, its PICC Health Insurance subsidiary focuses on commercial health insurance.

Overall Score

83.6/100

Founded

1949

Headquarters

Beijing

Type

public

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Key Metrics

Market Cap

USD ~51.6B

Net Premiums

USD 70.4B (2023)

Ownership

State-owned enterprise

Specialization

P&C + health subsidiary

Editorial Ratings

AM Best: A (P&C)(2025)

Rating: A (Excellent) — P&C (max: A++ (Superior))

80AM

Moody's: A2 (Life)(2025)

Rating: A2 (Life subsidiary) (max: Aaa)

82.5Moody's

Fortune Global 500 Member(2024)

Rating: Fortune Global 500 member (max: #1)

88.2Fortune

Coverage Highlights

✓China's largest property & casualty insurer
✓PICC Health Insurance subsidiary for commercial health
✓Extensive network across all provinces in China
✓State-backed with deep institutional trust
✓Growing commercial health insurance portfolio

Pros

✓Strongest P&C insurer in China
✓State-backed with deep trust
✓Extensive network across all provinces
✓Growing health insurance subsidiary

Cons

✗Health insurance is subsidiary focus, not core business
✗State-owned enterprise limitations on agility
✗Digital transformation behind Ping An
✗Limited English services

Frequently Asked Questions

What does PICC stand for?

PICC stands for People's Insurance Company of China. It is the oldest insurance company in the People's Republic of China, founded in 1949.

Does PICC offer health insurance?

Yes. PICC operates a dedicated PICC Health Insurance subsidiary focused on commercial health insurance, though the group's core business is property and casualty.

What is PICC's financial strength?

PICC holds an AM Best A (Excellent) rating for P&C and Moody's A2 for its Life subsidiary, with market capitalization of approximately USD 51.6 billion.

Quick Summary

InsurerPICC (People's Insurance Company of China)

Country🇨🇳 China

Overall Score83.6/100

Satisfaction3.7/5

Members500.0M

Typepublic

Founded1949

Other Insurers in China

AIA China

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88.8

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Ping An Insurance Group

private

86.2

/ 100

China Life Insurance

public

83.4

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China Pacific Insurance (CPIC)

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83.1

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New China Life Insurance

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79.2

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