Samsung Property & Casualty Insurance

Samsung Property & Casualty Insurance (China) Co., Ltd. was formerly established in China by Samsung Fire & Marine Insurance Company of South Korea. Samsung Fire & Marine is a property and casualty insurance company under the Samsung Group of South Korea, with over 70 years of insurance operating history and over 30 years of auto insurance history.
Based on years of stable operations in China, in April 2005, Samsung Property & Casualty Insurance obtained a corporate business license and took the lead in successfully transforming into the first wholly foreign-owned property insurance company in China. Its headquarters is located in Shanghai, and it has established six branches in Beijing, Shenzhen, Jiangsu, Qingdao, Tianjin, and Shaanxi.

Samsung Property & Casualty Insurance has deeply cultivated the Chinese insurance market for many years. In June 2010, it entered the auto insurance market. In February 2013, it received approval from the China Insurance Regulatory Commission to operate special products for motor vehicle telemarketing; in April of the same year, it was approved to operate compulsory traffic insurance. The company is the first foreign-funded property insurance company to operate direct auto insurance (telemarketing + online sales). Its main business covers auto insurance, corporate property insurance, cargo transportation insurance, liability insurance, employee fidelity guarantee insurance, group accidental injury insurance, engineering insurance, and other fields.

With strong capital, a stable corporate strategy, and excellent financial performance, Samsung Property & Casualty Insurance has continuously received an A-level or above rating from Standard & Poor's since 2015, and has been selected by the Financial Times as the "Annual Foreign-Funded Property Insurance Company" for two consecutive years.

In August 2022, Samsung Property & Casualty Insurance received approval from the China Banking and Insurance Regulatory Commission to increase capital, introducing five new shareholders including Tencent, and formally transformed into a joint-venture property insurance company strategically supported by the Samsung Group, Tencent Group, and others.
In the future, Samsung Property & Casualty Insurance will continue to promote the Samsung spirit of "customer-centric, challenging the world, and creating the future," consistently create better products, uphold higher standards, and provide better services, and through active challenges and reforms, become an insurance company that continuously creates new value.