15 Years of Steadfast Efforts, Building Blocks of the Future - CPIC celebrates 15th Anniversary of HKSE Listing
SHANGHAI, Dec. 20, 2024 /PRNewswire/ -- On December 17-18, CPIC hosted a series of events to celebrate the 15th anniversary of its listing in Hong Kong Stock Exchange. The events, which included an investment forum, a gala dinner and a symphony concert, provided a multifaceted review of the company's journey in the past 33 years since its inception, establishing its foothold in Shanghai and serving around the country, as well as its remarkable achievements. CPIC Chairman Fu Fan attended the events. Secretary for Financial Services and the Treasury Bureau, Hong Kong SAR, Christopher HUI Ching-yu and Honorary President of Hong Kong Chinese Enterprises Association Leng Weiqing addressed the events. Olympic champion swimmer Zhang Yufei participated in the ceremony and was appointed as a "China Pacific Insurance Greater Bay Area Service Experience Officer". Representatives of many domestic and overseas industry supervisors and associations, major insurers, investment institutions and strategic partners participated in the events.
Since its establishment in 1991, CPIC is devoted to raising its capability of leveraging its long-term capital to serve the real economy, national strategy and people's well-being. In serving real economic development, it supported scientific innovation, high & new technology, and new enterprise in emerging sectors with its special expertise, aiming to build China into a country with strong scientific technology; Serving the "Belt & Road" national strategy, it provided up to 1 trillion yuan worth of risk protection for Chinese companies exploring overseas markets; Helping with the country's urbanization, it supported the country's major infrastructure construction projects with debt, equity, and asset management arrangements. In serving people's well-being, it provided inclusive commercial insurance, serious disease insurance and long-term nursing insurance, contributing to the formation of a multi-level medical protection system and providing targeted protection for special groups, such as young people and city migrants; Promoting rural invigoration, it continued to expand the coverage and protection level of its agriculture insurance services.
CPIC has always adhered to a customer-centric approach, providing a wide range of risk protection, wealth planning and asset management services to over 180mn customers. From 1991 to 2023, its annual operating income has risen from 260mn yuan to 303.95bn yuan; its total assets increased from 1.0bn yuan to 2.3 trillion yuan, with a secure market standing as a leading insurance group in China.
As a national stock-holding commercial insurance company, CPIC was born during the reform and opening up of the country. It actively participated in the opening up of the economy and embraced the international capital market. On December 23, 2009, CPIC was listed and traded on the main board of the Stock Exchange of Hong Kong, becoming the 2nd largest IPO in the Hong Kong market that year and 7th largest globally. Since its listing, the company's corporate governance has significantly improved in terms of internationalization, market-orientation and professionalism. Meanwhile, CPIC actively explored Hong Kong market layout and enhanced its major business capability in P/C insurance, life insurance and asset management, which, in turn, boosted its overall development.
Looking ahead, CPIC will persist in its core values of "integrity, prudence, excellence, innovation and win-win cooperation", devote itself to technology finance, green finance, pension finance, inclusive finance and digital finance, continue to support the real economy, serve people's well-being, and continue to increase strategic investment in the Greater Bay Area. CPIC will optimize its resources distribution and deepen its connection with Hong Kong's capital market and leverage Hong Kong as an international financial centre to forge ahead with our internationalization strategy. CPIC will accelerate the provision of cross-border pension insurance and health care, and make the communication and cooperation with all communities in Hong Kong wider and tighter in terms of catastrophe insurance, fin-tech, ESG and other emerging areas. The Company will stay committed to sound corporate governance and high-quality development, move firmly towards the vision of "a top-notch insurance financial group with international influence," and make even greater contribution to China's ambition to build itself into a financial powerhouse.
SOURCE China Pacific Insurance (Group) Co. Ltd.
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