China 2015: BRAND PROFILE | 22. CPIC
COMPANY China Pacific Insurance (Group) Company, Ltd.
BRAND VALUE US$ 3.2 Billion
YEAR-ON-YEAR CHANGE -7%
YEAR FORMED 1991
CPIC experienced strong profit growth during the first half of 2014, following a positive performance a year earlier. In life insurance, the company improved its agency channel with new sales force recruitment and training initiatives. In addition, CPIC:
- Developed non-auto aspects of the property and casualty business.
- Introduced new investment products to develop third- party clients for the asset management business.
China Pacific is one of China’s largest insurers. Life insurance drives about two-thirds of the revenue from a diversified portfolio that also includes property and casualty insurance products and a wealth management business.
The company was established in 1991. China Pacific Insurance (Group) Company, Ltd. was listed on the Shanghai Stock Exchange in 2007, and on the Hong Kong Stock Exchange in 2009.
In the first half of 2014, net income rose 26 percent to $1.1 billion on revenue of $17.9 billion, a rise of 7 percent. Net income rose 87 percent to $1.5 billion for the full year 2013 on an 18 percent revenue rise to $31.2 billion.