China People's Property Insurance Co., Ltd. (HKEx: 2328), referred to as PICC P&C Insurance, Cai Zhong or P&C Insurance, formerly known as China People's Insurance Company, was established in 1949. It is a large state-owned financial enterprise. After the shareholding system reform in 2002, it was divided into China People's Property Insurance Company Limited and China Life Insurance Company. The main business is to provide a variety of property insurance products to customers from all walks of life in China. The chairman is Yanwu. It is one of the six banks and three guarantees (formerly known as five elements and three guarantees) of Chinese financial stocks in Hong Kong.
The company was registered in People's Republic of China (PRC), inherited all the assets, liabilities and branches of the former People's Insurance Company of China, and operated all insurance businesses except life insurance. 20 1 1, the net profit increased by 5 1%, the profit was 8.027 billion yuan, and the performance was worse than expected. Turnover increased by 12% to RMB 1 73.9 billion yuan.
The parent company is China People's Insurance Group.
China Property Insurance (A+H) announced that it will issue 465,438+086,5438+070,000 H shares (929.98 million A shares), accounting for 9.9% of the enlarged share capital of H shares, with 65,438+0 shares for every 65,438+00 shares, and the price of H shares is 5.38 yuan (. Together with the rights issue of domestic shares, it will raise 7.257 billion yuan (5.763 billion yuan), and the proceeds from the rights issue will be used to supplement its capital and improve the solvency of property insurance. . AIG promised to issue shares. At present, AIG holds 365,438+0.92% 65,438+0.265,438+300 million H shares, and the issued share capital of the company is about 9.9%. China People's Insurance Co., Ltd. has promised to participate in the rights issue plan of its subsidiary, China Property Insurance Co., Ltd., and will invest 3.999 billion yuan to subscribe for 930 million domestic rights issue shares.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.