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GPIC is China Life Property Insurance Company under China Life Insurance. In GPIC, GP means national life insurance and property, while IC means insurance and company
China Life Property Insurance Co., Ltd. is a national professional property insurance company approved by the State Council, approved by China Insurance Regulatory Commission, and jointly established by China Life Insurance (Group) Corporation and its China Life Insurance Co., Ltd., with a registered capital of 8 billion yuan. Its business scope includes property loss insurance, liability insurance, credit insurance and guarantee insurance Short term health insurance and accidental injury insurance, reinsurance business of the above businesses, insurance fund utilization business permitted by national laws and regulations, and other businesses approved by CIRC
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in November 2011, the four major insurance groups were listed in the "central management" (central management), and the news that all of them were upgraded to vice ministerial level central enterprises was basically confirmed
at the end of 2011, the personnel rights of the above four insurance groups have been transferred to the Organization Department of the Central Committee. An insurance group company learned that Li Yuanchao, head of the Organization Department of the CPC Central Committee, officially announced the decision on March 16, indicating that the adjustment of the new team of the four major state-owned insurance companies and the rearrangement of their members have been completed
this means that the organizational relations and personnel rights of China Life Insurance Group (hereinafter referred to as "China Life"), people's insurance group of China (hereinafter referred to as "PICC"), China Taiping Insurance Group (hereinafter referred to as "China Taiping") and China Export Credit Insurance Corporation (hereinafter referred to as "SINOSURE") have been transferred to the Organization Department of the CPC Central Committee, and all of them have been upgraded to vice ministerial level central enterprises. The relevant senior executives of the four insurance groups have also been promoted to a higher level. Yang Mingsheng, vice chairman of CIRC, will take charge of China Life Insurance at the level of deputy department; Yuan Li, chairman of China Life Insurance, will be transferred to vice president of China Development Bank
China life is composed of China Life Insurance (Group) Corporation, its subsidiaries and direct subordinate institutions. Including: China Life Insurance Co., Ltd., China Life Asset Management Co., Ltd., China Life Property Insurance Co., Ltd., China Life Endowment Insurance Co., Ltd., China Life e-commerce Co., Ltd., China Life Insurance (Overseas) Co., Ltd., Guoshou Investment Holding Co., Ltd., insurance vocational college, etc