Is Taiping Insurance a company?

Are China Taiping Insurance and Pacific Insurance the same?

Taiping Insurance and Pacific Insurance are not the same insurance company.

Taiping Insurance is China Taiping Insurance Group Co., Ltd., referred to as "China Taiping", founded in Shanghai in 1929, is the longest national insurance brand in the history of China, and is also the only management headquarters in China overseas financial enterprises, its brand history can be traced back to the establishment of Taiping Water and Fire Insurance Company in 1929, the establishment of China Insurance Co., Ltd. in 1931 and the establishment of Hong Kong Min'an Insurance in 1949.

China Pacific Insurance (A shares: 601601, H shares: 02601), referred to as China Pacific Insurance or CPIC, 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 as "China Pacific Insurance (Group) 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 operates a diversified range of insurance services, including life insurance, property insurance, etc.

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

The full name of China Taiping Insurance is China Taiping Insurance Group Co., Ltd., which is the first multinational financial and insurance group company in China, and its domestic subsidiaries include Taiping Life Insurance, Taiping Property Insurance, Taiping Reinsurance, etc.

Pacific Insurance Company, also known as China Pacific Insurance, is a national joint-stock commercial insurance company established with the approval of the People's Bank of China in 1991, as the second largest property insurance company in China, second only to China Property Insurance, and one of the three major life insurance companies.

The two companies have their own insurance tendencies, China Taiping Insurance's business scope is mainly life insurance, property insurance, accident insurance, reinsurance, etc., and Pacific Insurance is a comprehensive insurance company, mainly engaged in property insurance, endowment insurance, car insurance, etc. Both companies are financially strong and are among the top companies in the insurance industry, and policyholders only need to choose the right option according to their insurance needs.

What is Life Insurance:

Life insurance is a type of life insurance, which takes the life of the insured as the subject of insurance and the life or death of the insured as the condition of payment [1] . As with all insurance businesses, the insured passes the risk to the insurer, accepts the insurer's terms and pays the premium. Unlike other insurances, life insurance passes on the risk of survival or death of the insured.

Definition of Property Insurance:

Property insurance refers to the insurance in which the policyholder pays the insurance premium to the insurer according to the contract, and the insurer bears the liability for the loss caused by natural disasters or accidents by the insured property and its related interests according to the insurance contract. Property insurance, including property insurance, agricultural insurance, liability insurance, guarantee insurance, credit insurance and other types of insurance with property or interests as the subject of insurance.

What is Reinsurance:

Reinsurance is also known as "reinsurance". On the basis of the original insurance contract, the insurer insures part of the risks and liabilities it underwrites to other insurers by signing a reinsurance contract. The basis of reinsurance is the original insurance, and the emergence of reinsurance is based on the need to diversify risks in the operation of the original insurer.

Property insurance: Property insurance refers to the insurance in which the policyholder pays the insurance premium to the insurer according to the contract, and the insurer bears the liability for the loss caused by natural disasters or accidents by the insured property and its related interests according to the insurance contract. Property insurance, including property insurance, agricultural insurance, liability insurance, guarantee insurance, credit insurance and other types of insurance with property or interests as the subject of insurance.

Everyone should be familiar with Pacific Insurance, in the insurance industry, it can be regarded as a company with a face, what is the ranking of Pacific in the insurance industry? I have collected various authorities** and compiled this list of insurance companies, you may wish to refer to it:"2020 Latest Insurance Company Rankings".

Taiping Insurance and Pacific Insurance are different companies, Pacific Insurance is the abbreviation of China Pacific Insurance (Group) shares, and Taiping Insurance is the abbreviation of Taiping Life Insurance.

Pacific Insurance, which is actually an insurance conglomerate, was founded in 1991 and is headquartered in Shanghai. It is listed on A-shares and H-shares, and has been listed in the world's top 500 for 7 consecutive years. The businesses of the Pacific Insurance Group include:

Full insurance license layout for life insurance, property insurance, pension insurance, health insurance, agricultural insurance and asset management. The term "Pacific Insurance" that ordinary people often refer to usually refers to Pacific Life, a subsidiary of the Pacific Insurance Group. And about Taiping Insurance Company,1.Company strength

Founded in 1991 and headquartered in Shanghai, China Pacific Insurance Company has a registered capital of 9 billion yuan, and is listed on both A-share and H-share companies, as the second largest property insurance company in mainland China, the scale cannot be underestimated, and it is also the third largest life insurance company in China, ranking behind Chinese Life and Ping An of China. Judging from the data of the world's top 500 companies released in 19 years, Pacific Insurance is located in the 199th place, and its strength is as you can see, it can be regarded as a veritable "big company, big brand".

2.Solvency

The China Insurance Regulatory Commission (CIRC) has two major indicators for the solvency assessment of insurance companies, and only when the core solvency adequacy ratio is higher than 50% and the comprehensive solvency composite ratio is higher than 100%, it is considered qualified. In the data released at the end of the third quarter of 2019, the core solvency adequacy ratio and comprehensive solvency adequacy ratio of Pacific Insurance Company are both 259%, and the latest comprehensive risk rating, Pacific Insurance is rated A, which is still quite strong.

So how does it compare to other companies? Here's a list, if you're interested, you can take a look:"The Latest Solvency Ranking of Insurance Companies".

3.Claims data

Looking at the claims report released by Pacific Insurance Company in 2019, a total of 3.1 million claims were made throughout the year, with a compensation amount of 15 billion. If you were worried that the insurance company might reject the claim, you may be able to feel much more at ease as soon as this claim data comes out.

4.Product Introduction

Are all the best-selling products good? Of course not! In order to let everyone avoid detours, I stayed up two overnight screening evaluations before sorting out this worthwhile Pacific Insurance ** point, and poke the blue word to receive:

"Pacific Insurance's Seven [Worth Buying] Products".

。Founded in 1991, Pacific Insurance Company is a senior insurance company and has been selected as one of the world's top 500 companies for eight consecutive years. Let's evaluate Pacific Insurance Company with the following three questions:

1.How cost-effective are CPIC's products?

Blessing and health, Jinfu life, auspicious treasure d, wealth and wisdom win-win, enjoy millions and so on are the popular products of Pacific Insurance, the detailed interpretation of the above products I sorted out in this article:"Seven products worth buying in Pacific Insurance in 2020".。After reading it, you will know which product is good.

2.In terms of service level, what is the evaluation of Pacific Insurance?

In order to give everyone a standard, the China Banking and Insurance Regulatory Commission (CBIRC) rates the service according to indicators such as claims service, how many complaints, and business processing speed, with the highest level being AAA and the lowest being D.

Let's see how many levels Pacific Life can rate:

The form shows that the Pacific Ocean is AA graded, which is a high level. Next year will be different.

3.Is Pacific Insurance reliable?

I will ask friends who are unreliable in insurance companies, probably because they are worried about the difficulty of making insurance claims. This is easy to do, the more reliable the company, the higher it must be in the ranking of the same industry. Here's an up-to-date list:

Which of the top 10 insurance companies is good. You'll be able to see which companies are better than Pacific Insurance.

That's all for me"Are Taiping Insurance and Pacific Insurance the same company"

Freshly baked! China's Top 10 Insurance Companies Ranking! 》

As for which is better? It should be that each has its own strengths.

Let's take a look at how these two companies are from the perspective of company internships, solvency, and product comparisons.

Taiping Life:China Taiping Insurance Group Co., Ltd., which manages the Hong Kong-based China Management Financial and Insurance Group, is one of the large and medium-sized life insurance companies in China, and has been selected as one of the world's top 500 companies for two consecutive years.

In 2019, the operating income was 100 million yuan, and the funds were abundant.

Pacific Insurance:Founded in 1991 and headquartered in Shanghai, the company has a registered capital of 9 billion, and in 2019, the company achieved operating income of 100 million yuan, a year-on-year increase; The group's net profit was 100 million yuan.

Solvency is a dynamic indicator that measures whether an insurance company has the ability to repay its debts. Generally, if a company has low solvency, the risk of bankruptcy is high.

The CBIRC has two major indicators for the solvency assessment of insurance companies, that is, the core solvency adequacy ratio should be higher than 50% and the comprehensive solvency adequacy ratio should be higher than 100%.

As you can see from the diagram,The solvency of Taiping Life and Pacific Insurance is in line with the CBIRC's standards.

For a more detailed solvency ranking of insurance companies, I have compiled it here, and if you are interested, you can take a look

Which of the top 10 insurers in solvency in 2020 is better? 》

However, we need to pay attention to thatThe main product is not necessarily a product worth buying.

If you're interested in these products, check out this review article about them

"How is Taiping Life, is it reliable, what are the pitfalls and routines".

"How is Pacific Insurance, is it reliable, and what are the pitfalls and routines? 》

Pacific Property & Casualty Insurance and Pacific Life Insurance are the same group, they are different companies, but they belong to the Pacific Group.

Taiping is also a group, and there are Taiping Life Insurance and Taiping Property Insurance below.

These are four different commercial insurance companies, each belonging to two groups.

No, Taiping Insurance refers to China Taiping. It is a financial central enterprise affiliated to the world.

Hello, Pacific Insurance Company, Taiping is two companies.

Not the same company, Pacific is a Chinese listed company.

No, it's two companies, both good.

No, it's two insurance companies.

They are not the same. Pacific Property Insurance is a professional subsidiary of China Pacific Insurance, headquartered in Shanghai, China Pacific Insurance is an insurance group company established on May 13, 1991 on the basis of China Pacific Insurance Company, they are affiliated, Pacific Property Insurance is affiliated to Pacific Insurance.

Taiping Property Insurance and Pacific Insurance are not one.

Taiping Property Insurance refers to Taiping Property Insurance, which belongs to China Taiping Insurance.

The main business scope of the member companies of the group company includes property insurance, etc., and is not a high-burning Pacific Insurance Company.

Pacific Insurance generally refers to Pacific Insurance Co., Ltd., referred to as China Pacific Insurance or CPIC, and its main business scope includes life insurance, property insurance, reinsurance, etc. Taiping Property Insurance and Pacific Insurance are both formal insurance companies, and consumers are free to choose the insurance company they trust.

The differences between Taiping Insurance Company and Pacific Insurance Company are as follows:

Convertible corporate bonds.

Different; Warrants.

Unlike stock options; Different treatment methods; Taiping Insurance Company takes the industrial activity unit as the basic accounting unit, while Pacific Baoqisan Insurance Company uses an independent accounting unit as the basic accounting unit.

Pacific Property & Casualty Insurance and Pacific Insurance are not the same company. Pacific Insurance is an insurance group company, and Pacific Property & Casualty Insurance is a subsidiary of Pacific Insurance, which provides property insurance products and services.

Next, the senior sister will introduce you to these two insurance companies. Before starting the analysis, you might as well take a look at this popular science article: When we look at insurance companies, what do we really look at?

1. Background of the insurance company.

China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as Pacific Insurance) is an insurance group company established on the basis of China Pacific Insurance Company established in 1991, headquartered in Shanghai, with full insurance licenses including life insurance, property insurance, endowment insurance, health insurance, etc. In November 2021, the registered capital of CPIC was 100 million yuan.

Wide lead. China Pacific Property & Casualty Insurance Co., Ltd. (hereinafter referred to as CPIC Property & Casualty) is a professional subsidiary of CPIC Insurance, which underwrites various types of insurance businesses approved by the China Banking and Insurance Regulatory Commission, such as motor vehicle insurance, property insurance, liability insurance, agricultural insurance, accident insurance, and short-term health insurance. As of the end of 2021, the registered capital of CPIC was 100 million yuan.

From this point of view, the comprehensive strength of Pacific Insurance and Pacific Property Insurance is very good. If you want to know more about Pacific Insurance and its subsidiaries, you can click on this article: How is Pacific Insurance, is it reliable, and what are the precautions for prudence?

2. Solvency.

If an insurance company wants to be solvent, it needs to meet three criteria stipulated by the CBIRC: core solvency adequacy ratio greater than or equal to 50%; The comprehensive solvency adequacy ratio is greater than or equal to 100%; The overall risk rating is B and above.

According to the solvency report of China Pacific Property & Casualty Insurance Co., Ltd. for the third quarter of 2022, its core solvency adequacy ratio is a comprehensive solvency adequacy ratio, and the comprehensive risk rating results of the last two (Q1 and Q2 2022) are AA.

It can be seen that all the indicators of CPIC in terms of solvency are passable, and it has sufficient ability to settle claims.

In the end, the senior sister found that the existing friends will confuse Pacific Insurance and Taiping Life, and I don't know what the difference between these two insurance companies is, you can supplement this article: Are Pacific and Taiping Life, whose names are like twins, a family?