PICC Property and Casualty

Name

PICC Property and Casualty

Legal name

中国人民保险（香港）有限公司

Website

https://picchk.com

Company type

Public

Founded year

1949

Operating status

Operating

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Commercial Property Insurance (FSAJACAE)

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB), Public Liability (Premises/Operations) (FSAJADAD)

Keywords

• Property and casualty insurance
• Motor vehicle insurance
• Commercial insurance
• Cargo transportation insurance
• Construction all-risk insurance

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D

Distribution channels2 records

Marketing channels2 records

Core offering

PICC Property and Casualty is China's largest property and casualty insurer, offering a comprehensive portfolio of personal and commercial insurance products including motor vehicle, travel, home, commercial property, construction, cargo, marine, aviation, liability, employee compensation, and credit guarantee insurance. The company distributes through intermediaries, brokers, and direct online channels, with specialized coverage for cross-border Hong Kong-Zhuhai-Macau Bridge vehicles and global cargo transit. It operates a wholly-owned Hong Kong subsidiary (PICC HK) serving as its principal international platform, supported by proprietary catastrophe modeling and risk reduction technology.

Product overview

PICC Property and Casualty Company Limited operates as a comprehensive property and casualty insurance provider in China, offering a broad portfolio of insurance products through its Hong Kong subsidiary. The personal insurance portfolio includes motor vehicle insurance products tailored for cross-border travel via the Hong Kong-Zhuhai-Macau Bridge (安港行, 安粵行, 港珠澳泊車計劃), travel insurance, private car insurance, and home insurance. The enterprise insurance portfolio encompasses commercial property insurance, commercial comprehensive insurance, office insurance, commercial vehicle insurance, interior decoration insurance, construction insurance, employee compensation insurance (mandatory under Hong Kong law), cargo transportation insurance, liability insurance, marine/ship insurance, credit guarantee insurance, and aviation insurance. The company maintains leading market share in China's property and casualty insurance sector while providing specialized coverage for infrastructure projects including ports, railways, and power stations internationally.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Vehicle Insurance for Guangdong Vehicles Southbound Scheme (安港行-粤车南下计划车险) Motor vehicle insurance designed for the 'Guangdong Vehicles Southbound' scheme, allowing vehicles registered in Guangdong to travel to Hong Kong via the Hong Kong-Zhuhai-Macau Bridge.
• Cross-Border Medical Insurance (北上醫無憂跨境醫療險) Cross-border medical insurance providing medical coverage for policyholders traveling between Mainland China and Hong Kong/Macau.
• Motor Insurance for Hong Kong Vehicles Northbound (安粵行-港車北上計劃車險) Upgraded motor insurance product for Hong Kong vehicles participating in the 'Hong Kong Vehicles Northbound' scheme to travel in Mainland China.
• Hong Kong-Zhuhai-Macau Bridge Parking Scheme Vehicle Insurance (港珠澳泊車計劃車險) Vehicle insurance for the Hong Kong-Zhuhai-Macau Bridge parking scheme, meeting the legal insurance requirements for vehicles entering the bridge area under Mainland, Hong Kong, and Macau regulations.
• Travel Insurance (旅遊保險) Travel insurance providing coverage for trip cancellations, medical emergencies, lost baggage, and travel delays for travelers.
• Private Car Insurance (私家車保險) Private car insurance providing comprehensive coverage for individual vehicle owners including third-party liability and own damage protection.
• Home Insurance (家居保險) Home insurance covering property damage, personal liability, and contents protection for residential properties.
• Commercial Property Insurance (商業財產保險) Commercial property insurance protecting business premises, inventory, and equipment against fire, theft, and other covered perils.
• Commercial Comprehensive Insurance (商業綜合保險) Commercial comprehensive insurance providing bundled coverage for multiple business risks including property, liability, and business interruption.
• Office Comprehensive Insurance (辦公室綜合保險) Office comprehensive insurance covering office premises, equipment, and business liability for commercial office operations.
• Commercial Vehicle Insurance (商用汽車保險) Commercial vehicle insurance for businesses with fleets of vehicles used for commercial purposes, including goods delivery and transport services.
• Interior Decoration Insurance (室內裝修保險) Interior decoration insurance covering renovation projects with protection for construction materials, third-party liability, and employee compensation for up to 6 months plus 6-month maintenance period.
• Construction All-Risk Insurance (建築工程保險) Construction insurance providing all-risk coverage for building, installation, renovation, and repair projects, covering materials, equipment, and third-party liability.
• Employee Compensation Insurance (僱員賠償保險) Employee compensation insurance as required under Hong Kong Ordinance Chapter 282, providing mandatory coverage for work injuries and occupational diseases.
• Cargo Transportation Insurance (貨物運輸保險) Cargo transportation insurance providing comprehensive coverage for goods in transit globally, with flexible coverage options including single shipment and annual open cover policies.
• Liability Insurance (責任保險) Liability insurance protecting businesses against third-party claims for bodily injury, property damage, and advertising injury.
• Marine/Ship Insurance (船舶保險) Marine/ship insurance providing coverage for vessels, hull, machinery, and cargo carried on watercraft.
• Credit Guarantee Insurance (信用保證保險) Credit guarantee insurance protecting businesses against losses from non-payment by buyers or default on contractual obligations.
• Aviation Insurance (航天航空保險) Aviation insurance covering aircraft hull, liability, and aviation-specific risks for the aerospace industry.

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature1 record

Partnerships

Two partnerships are on record, tiered minor and core.

• Choknor (DeepZang AI Developer)minorStrategic or Co-development Partner · 26 March 2026PICC Property and Casualty's Xizang branch signed cooperation agreements with Choknor and other institutions including China Mobile's Xizang branch to explore AI applications in government services, education, healthcare, and finance, leveraging the DeepZang Tibetan-language AI model.
• Aibao TechnologycoreStrategic or Co-development Partner · 30 December 2025PICC Property & Casualty Co signed a 2026 Customer Services Cooperation Framework Agreement with connected party Aibao Technology. Under the deal, Aibao and its subsidiaries will provide value-added services for motor vehicle insurance customers, online activity-related services, and online advertising services from January 1 to December 31, 2026. The agreement is capped at RMB 370 million and is classified as a continuing connected transaction under Hong Kong listing rules.

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Zurich Insurance Group: Zurich is a global P&C insurance incumbent with strong commercial and specialty lines including property, motor, liability, and marine. Comparable to PICC P&C on enterprise commercial P&C products and international cross-border capabilities, especially via Hong Kong.
• AXA: AXA is a global P&C and life insurance incumbent with material Asia operations (including Hong Kong) competing across commercial property, motor, and specialty lines. Comparable on the international property and casualty footprint and global cargo/marine capabilities PICC P&C highlights.
• Allianz: Allianz is a global P&C and life insurance incumbent with significant Asia-Pacific and Greater China exposure. Comparable as a broad, multi-line P&C carrier with global cargo, marine, aviation, and commercial property capabilities that mirror PICC P&C's enterprise product suite.
• Chubb Limited: Chubb is a global P&C and accident & health insurance leader, with a strong Hong Kong and Greater China presence. Comparable to PICC P&C on commercial P&C, specialty lines, and accident/medical cross-border products PICC P&C HK offers to travelers and individuals.
• Tokio Marine Holdings: Tokio Marine is a global P&C insurance group with a sizable Asia presence and a focus on commercial P&C, marine, and specialty lines. Comparable on the international P&C, marine, and aviation insurance capabilities that PICC P&C lists among its enterprise products.
• AIG (American International Group): AIG is a global P&C insurance incumbent with deep Asia-Pacific and Hong Kong operations covering commercial property, marine, aviation, and liability. Comparable to PICC P&C on the enterprise specialty P&C book and on cross-border commercial insurance distribution from Hong Kong.

Direct peers

• Ping An Insurance Group: Ping An operates one of China's largest P&C insurance subsidiaries (Ping An P&C), competing head-to-head with PICC P&C across motor, property, and liability lines. Similar in scale, listed in Hong Kong, and serves overlapping enterprise and consumer segments.
• China Pacific Insurance (CPIC): CPIC is one of China's largest P&C insurers with a market share directly comparable to PICC P&C, offering personal and commercial P&C, motor, property, and specialty lines through similar distribution and reinsurance structures. Closest like-for-like competitor in the Chinese P&C market.
• China Taiping Insurance Holdings: China Taiping is a major state-owned P&C and life insurance group with a sizable property and casualty subsidiary competing directly with PICC P&C in mainland China and Hong Kong. Highly comparable in product mix, state-owned background, and HK market presence.

Emerging players

• Sunshine Insurance Group: Sunshine is a privately-controlled Chinese P&C and life insurer with a meaningful but smaller P&C book than PICC. Competes in motor and commercial P&C lines, with a more digital-native distribution profile and a focus on segments where PICC also plays.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PICC Property and Casualty