China Life Property Insurance Co., Ltd. is a wholly-owned subsidiary of China Life Insurance Group Co., Ltd., which was established on February 30, 2006 and headquartered in Beijing. This company is one of the leading property insurance companies in China, mainly providing property insurance, liability insurance and credit insurance services. The abbreviation of the company is PICC Property Insurance, and PICC is the abbreviation of China People's Insurance Company, which means China People's Insurance Company.