PICC Property and Casualty Company Limited Shenzhen Branch

The predecessor of The People's Insurance Company (Group) of China Limited (abbreviated as PICC) was the People's Insurance Company of China, which was approved by the Government Administration Council of the Central People's Government and inaugurated on October 20, 1949 at No. 108 Xijiaominxiang, Beijing. As the founder and pioneer of New China's insurance industry, over more than 60 years of reform and development, it has always upheld the mission of "People's Insurance, Serving the People," actively fulfilled corporate social responsibility, and provided comprehensive, high-quality insurance protection and services for serving economic and social development and safeguarding national welfare and people's livelihood, forging the glory of New China's national insurance industry. As the domestic insurance company with the longest history, it has undergone several major transformations. According to a decision of the State Council, the People's Bank of China approved in 1996 the renaming of the People's Insurance Company of China to The People's Insurance (Group) Company of China, and established three insurance subsidiaries in the mainland region: PICC Property Insurance Co., Ltd., PICC Life Insurance Co., Ltd., and PICC Reinsurance Co., Ltd. In 1998, according to the approval of the State Council, The People's Insurance (Group) Company of China further restructured, with PICC Property Insurance Co., Ltd. becoming a first-level legal entity, inheriting the brand of the People's Insurance Company of China and continuing to use the name People's Insurance Company of China. In July 2003, with the consent of the State Council and the approval of the China Insurance Regulatory Commission, the People's Insurance Company of China initiated the establishment of PICC Property and Casualty Company Limited and was renamed PICC Holding Company. In the same year, PICC Holding Company initiated the establishment of the first domestic insurance asset management company—PICC Asset Management Co., Ltd., which was renamed PICC Asset Management Company Limited in 2016. In June 2007, to uphold history and brand, PICC Holding Company resumed the name The People's Insurance Company (Group) of China. In September 2009, The People's Insurance Company (Group) of China successfully restructured into The People's Insurance Company (Group) of China Limited, achieving a major transformation from a traditional state-owned enterprise to a modern state-controlled financial insurance group. On December 7, 2012, The People's Insurance Company (Group) of China Limited completed its H-share listing on the Hong Kong Stock Exchange, pioneering the overseas overall listing of a centrally managed insurance group. At present, PICC has more than 10 specialized subsidiaries, including PICC Property and Casualty Company Limited, PICC Asset Management Company Limited, PICC Health Insurance Company Limited, PICC Life Insurance Company Limited, PICC Investment Holding Co., Ltd., PICC Capital Investment Management Co., Ltd., PICC Financial Services Co., Ltd., PICC Reinsurance Company Limited, PICC Pension Insurance Co., Ltd., and PICC (Hong Kong) Company Limited, etc. Its main business scope covers the entire insurance industry chain, including property insurance, liability insurance, life insurance, reinsurance, and pension insurance, playing the role of the main channel in the industry in policy-oriented business areas such as agricultural insurance and social medical insurance, and providing asset management, pension fund management, and other non-insurance financial services. PICC's subsidiary PICC Property and Casualty Company Limited was successfully listed on the Hong Kong Stock Exchange in 2003, becoming the "first stock" for overseas listing of a large state-owned financial enterprise in mainland China, and is Asia's largest non-life public company; its subsidiary PICC Health Insurance Company Limited is the first specialized health insurance company in China, committed to providing high-quality and efficient health protection and health management services for the vast majority of Chinese people; its subsidiary PICC Life Insurance Company Limited, since its establishment in 2005, has become a company with outstanding growth value in the domestic life insurance market; its subsidiary PICC Asset Management Company Limited is the first insurance asset management company in China, taking the lead in introducing overseas strategic investors in the industry, pioneering the tripartite operation model of entrustment, trusteeship, and custody, and meticulously building a "first-class, internationally leading comprehensive investment and wealth management company." In recent years, with leading technology and comprehensive strength, PICC has successively become the insurance partner of the 2008 Beijing Olympic Games, the 2010 Shanghai World Expo, and the 2010 Guangzhou Asian Games, successfully completing the important task of protecting the three major events. Since entering the Fortune Global 500 in 2010, PICC's ranking has continued to rise. In 2017, with annual operating revenue of 66.73 billion US dollars, it ranked 114th in the "Fortune Global 500," demonstrating the group's strong overall comprehensive strength. During the "13th Five-Year Plan" period, PICC will be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, deeply study, publicize, and implement the spirit of the 19th National Congress of the Communist Party of China and the first, second, and third plenary sessions of the 19th Central Committee, remain true to its original aspiration, keep its mission firmly in mind, firmly practice the new development concept, deeply advance the group's transformation to high-quality development, and strive to build PICC into a first-class, internationally leading insurance and financial group with strong comprehensive strength, outstanding value creation, enhanced collective effects, and excellent service quality.