PICC P&C is the core member and hallmark anchor business of the People's Insurance Company (Group) of China Limited (PICC Group). PICC Group ranked No.112 of the Fortune 500 in 2020. PICC P&C is a large state-owned property insurance company with premiums among the highest in the global property insurance market. In 2003, PICC P&C was listed on the Hong Kong Stock Exchange. In 2019, PICC P&C achieved gross written premiums of RMB433 billion, the total assets reached RMB596 billion. The market share was 33.2% in the property and casualty insurance market of the PRC. Moody’s Investors Service maintained the A1 rating (outlook: stable) in terms of insurance financial strength, which is the same as China's sovereign rating and the highest rating in China Mainland.

Export trade credit insurance

Domestic trade credit insurance

PICC Property & Casualty Company Limited (PICC P&C) grew out of People’s Insurance Company of China which was founded in 1949. PICC started to underwrite export credit insurance on behalf of the central government in 1988. In 2001, its export credit business became independent to form Chinese Export and Credit Insurance Company (Sinosure). In 2005, PICC decided to return to the credit insurance market while the surety/bond businesses have been on its product shelf for the past decades. Starting from 1 January 2013, PICC was licensed by the Chinese government to underwrite short term export credit insurance.