Are Taiping Life Insurance and Pacific Life Insurance a company?

Of course it's not one!

Taiping has a very long history, you can find this, started in 1929, is China's first insurance company, moved to Hong Kong in 1956, specializing in overseas business. In 2001, the resumption of business in China, this year is the 10th anniversary, Taiping attaches great importance to the cultivation of talents.

Founded in 1991, Pacific is an insurance company that will have a higher reputation and market share in China.

Both companies are insurance companies, but two completely separate companies.

It is definitely not the same company, the insurance company has naming rights, and the difference between one word is far away.

Of course, it is not a certain company, at present, Pacific Insurance Company is more than Taiping Insurance Company.

Isn't China Taiping Life Insurance Company a listed company?

This is Taiping's listing in Hong Kong**: China Taiping Insurance Holdings, a subsidiary of China Taiping, is a listed company in Hong Kong (HK0966).

Hee-hee......This is **you can take a look at the peace and security.

It's certainly not a company that Pacific is a publicly traded insurance company.

No, Pacific is a domestic insurance company headquartered in Beijing, and Taiping is a century-old store headquartered in Hong Kong.

No. Pacific Insurance Company Listed Insurance Company, the world's top 500!

Are China Taiping Insurance and Pacific Insurance the same?

Taiping Life and Pacific Insurance Company are not the same company.

Founded in 1929, Taiping Life Insurance is a large-scale multinational financial and insurance group company and one of the largest life insurance companies in China. Headquartered in Shanghai, the company has the most complete business system, covering life insurance, property insurance, pension insurance, reinsurance, reinsurance brokerage and insurance**, Internet insurance, etc.

Pacific Insurance, abbreviated as China Pacific Insurance or Taibao, formerly known as China Pacific Insurance Company, was established on May 13, 1991, and is a national joint-stock commercial insurance company approved by the People's Bank of China. In 2001, according to the approval of the reform of the system of the division of business institutions of China and the China Insurance Regulatory Commission, the original China Pacific Insurance Company was renamed "China Pacific Insurance Co., Ltd." CPIC is the second largest property insurance company in Chinese mainland, second only to China Property Insurance and one of the three major life insurance companies.

It itself operates diversified insurance services, including life insurance, property insurance, etc.

Difference Between Taiping Insurance and Pacific Insurance:

1. Differences in historical background

1) Taiping Insurance.

China Taiping was founded in Shanghai in 1929, moved overseas in 1956, re-entered the Chinese market in 2001, is one of China's four major state-owned financial and insurance groups, in 2011 included in the first management, headquartered in Hong Kong, is the longest continuous operation of the national insurance brand in the history of China, the strength is also very strong.

(2) Pacific Insurance

Founded in 1991 and headquartered in Shanghai, China Pacific Insurance is a leading comprehensive insurance group in China and the first insurance company listed in Shanghai, Hong Kong and London in China. The company has been listed in the Fortune Global 500 for 10 consecutive years, ranking 193rd.

2. The difference in the strength of the company

1) Solvency.

The main thing we buy insurance is to be able to get the insurance money from the insurance company in case of insurance, but if the insurance company can't even pay the insurance money, our protection is meaningless.

How can you tell if an insurance company can afford to pay for it? The most important indicator is solvency!

Generally, the solvency of an insurance company depends on these three indicators: core solvency adequacy ratio, comprehensive solvency adequacy ratio and risk rating.

Generally, insurance companies with a core solvency adequacy ratio of more than 50%, a comprehensive solvency adequacy ratio of more than 100%, and a risk rating of B or above have completely passed the solvency test.

We can see that the core solvency adequacy ratio and comprehensive solvency adequacy ratio of the two insurance companies are both much higher than the passing line, and the risk rating is A, so the solvency of the two insurance companies is very strong.

2) Claim status.

What we are most worried about when buying insurance is the difficulty of making claims, so what about the claims of Taiping Insurance and Pacific Insurance? We speak with data!

Taiping Insurance: In 2019, Taiping Insurance's claim amount was 100 million yuan, the number of claims was 10,000, the number of customers served was 640,000 throughout the year, and the odds of small claims exceeded 99%! In addition, Taiping Insurance has also innovated the "second compensation" service for claim settlement, which only needs to apply for claims online and collect image data, and the claim procedures can be completed within seconds.

Pacific Insurance:

In 2019, CPIC received a total of 15 billion yuan in compensation, with a high odds of small claims and a time limit of days for small claims, serving a total of 3.1 million customers throughout the year.

Therefore, whether it is the speed of claims settlement or the odds obtained, Taiping Insurance and Pacific Insurance are very good, and they have also innovated intelligent equipment to improve the efficiency of claim settlement.

Taiping Life Insurance and Pacific Life Insurance are both among the top eight large life insurance companies in China.

Taiping Life Insurance is a state-owned enterprise directly under the management of the State-owned Assets Supervision and Administration Commission.

Pacific Life Insurance Co., Ltd. is a joint-stock insurance company affiliated to Shanghai.

The first question is that Pacific Insurance and Taiping Life are not the same company. These two insurance companies are the subsidiaries of China Pacific Insurance (Group) Co., Ltd. **** and China Taiping Insurance (Group) Co., Ltd.

1.In terms of company background

Pacific Life was established in November 2001 with 100 million yuan, and as of the end of 2021, Pacific Life has more than 2,700 branches across the country, occupying a leading position in the domestic life insurance market.

Taiping Life Insurance was approved by the China Banking and Insurance Regulatory Commission in 2001 to officially resume domestic business, and its headquarters is located in ShanghaiAs of June 2022, Taiping Life's registered capital has reached 100 million yuan, total assets of more than 920 billion yuan, and more than 1,400 branches have been established.

From the perspective of company size, Pacific Doubao Life Insurance and Taiping Life Insurance are both medium and large life insurance companies in China.

2.Solvency

If you want to know the strength of an insurance company, solvency data is the most intuitive, and it is generally recommended that you choose an insurance company with a high solvency value (at least exceeding the relevant regulatory requirements of the China Banking and Insurance Regulatory Commission).

According to the disclosure on their respective official websites, Taiping Life's core solvency adequacy ratio in the third quarter of 2022 is a comprehensive solvency adequacy ratio, and the latest risk rating is A.

In the third quarter of 2022, Pacific Life's core solvency adequacy ratio was 143%, and its comprehensive solvency adequacy ratio was 241%, and the latest risk rating was AA.

It can be seen that the solvency of Pacific Life and Taiping Life is fully compliant. Hope.

Taiping Life Insurance and Pacific Insurance Company are not the same.

Founded in 1929, Taiping Life Insurance is a large-scale multinational financial and insurance group company with the most complete business system, covering life insurance, property insurance, pension insurance, reinsurance, reinsurance brokerage and insurance**, Internet insurance, etc.

Founded in 1991, Pacific Insurance Company is a national joint-stock commercial insurance company approved by the People's Bank of China. It has property insurance companies, life insurance companies, asset management companies, health insurance companies, pension investment companies, etc.

Test your anti-risk index, experts will interpret it for you for free!

Not a company;

Founded on May 13, 1991 and headquartered in Shanghai, China Pacific Insurance has successfully listed on the A-share market and H-shares, and has professional subsidiaries such as Pacific Life Insurance, Pacific Property Insurance, Pacific Asset Management Company and Changjiang Pension Insurance, maintaining a leading market position.

Taiping Insurance **** (hereinafter referred to as "Taiping Insurance") was founded in Shanghai on November 20, 1929, and is a strong national insurance company in China's insurance market. Taiping Insurance is a national property insurance company, whose business scope includes various property insurance, accident insurance, short-term health insurance and reinsurance business, all kinds of insurance business permitted by national laws and regulations, and capital spine search business.

China Taiping is the earliest state-owned insurance company, formerly known as "China Insurance Company". Later, there was the Chinese People's Insurance Company, and then the Chinese People's Insurance Company was separated from the Chinese Shouwuxiao, and in the three were the three "state-owned life insurance companies" in China, and the others were not state-owned.

Taiping 01 years ago only do overseas markets, 01 years to join the WTO, foreign insurance companies into China, Taiping also returned to China to resume business, and Taiping is mainly for high-end customers, especially high-end customers, who want to pack millions. Tens of millions or even hundreds of millions of net worth Taiping has several "excellent plan" products that can meet the requirements, so not many people know about it. The slow launch of mass products will let everyone know about Taiping.

Taiping Insurance****, referred to as "Taiping Insurance". Founded in Shanghai on November 20, 1929, Taiping Insurance is a property insurance company whose business scope includes various property insurance, accident insurance, short-term health insurance and reinsurance business.

In November 2001, China Taiping Insurance Group Co., Ltd. resumed its domestic life insurance business under the name of "Taiping Life". After the resumption of business, "Taiping Life" is the sixth national life insurance company in China.

Taiping Insurance is a property insurance company, and Taiping Life Insurance is a life insurance company, so Taiping Insurance Company and Taiping Life Insurance Company are not the same company.