Which insurance companies are state-owned in China?

Four state-owned insurance companies in China: China Life Insurance Group, China People's Insurance Group, China Taiping Insurance Group and China Export Credit Insurance Corporation.

State-owned insurance companies, also known as "wholly state-owned insurance companies" and "state-controlled insurance companies", are insurance operating institutions funded by the state or the government and operated by the government or other public organizations. Their business may be for the purpose of profit, as a means to increase fiscal revenue, and the organization form is an insurance organization holding commercial insurance.

Extended data:

Legal characteristics of state-owned insurance

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' meeting;

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.

6. The CIRC is responsible for supervising the transfer of personnel rights of four deputy ministerial insurance companies appointed by the Central Organization Department.

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