Generally speaking, state-owned insurance companies must meet the following conditions:
1. The state is the sole shareholder of the state-owned insurance company.
2. The state only undertakes limited liability to the company to the extent of capital contribution.
3, on behalf of the state funded institutions or departments must be authorized by the state.
4. The state-owned insurance company has no shareholders.
5. The articles of association of a state-owned insurance company shall be formulated by an institution or department authorized by the state to invest, or drafted by the board of directors of the company, and shall come into effect after being approved by the institution authorized by the state and reported to the China Insurance Regulatory Commission for approval.
Several large domestic insurance companies are basically state-owned insurance companies. Specifically, the following insurance companies are all state-owned insurance companies.
List of state-owned insurance companies:
1. China People's Insurance Holding Company: China People's Insurance Company is abbreviated as PICC, which includes PICC Property Insurance and PICC Life Insurance.
2. China Insurance (Holdings) Co., Ltd.: Taiping Life Insurance, Taiping Insurance, Taiping Assets, Taiping Pension, Min 'an Insurance and China Insurance International (listed in Hong Kong) under the China Insurance Company are all well-known insurance companies in China insurance market.
3. China Life Insurance (Group) Company: China Life has insurance divisions such as China Life Insurance, China Life Insurance, China Life Insurance Overseas Insurance and China Life Property Insurance.
4. China Reinsurance (Group) Company, which has jurisdiction over property reinsurance, life reinsurance, continent insurance, China reinsurance assets, Huatai insurance and other companies.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.