Ping An Insurance
Ping An Insurance, one of the world’s top 100 enterprises, is about to sign an agreement regarding the opening of its offices in the SCE Plaza, Hongqiao Central Business District, Shanghai. The offices will be located at the conjunction of six metro lines and nearby the Honqiao Integrated Transportation Hub.
Ping An, whose full name is Ping An Insurance (Group) Company of China, is a holding company whose subsidiaries mainly deal with insurance, banking, and financial services.
The company was founded in 1988 and has its headquarters in both Shenzhen and Shanghai. It began its business only as a casualty insurance company. From the mid-1990s, it has diversified its business by entering financial services market and taking investments from overseas firms. In 1994, the company accepted investments from Morgan Stanley and Goldman Sachs, while in 2002, HSBC took a large equity interest in Ping An. In early 2008, Ping An agreed on taking a 50% share in Fortis Investments, which had taken over ABN AMRO Asset Management as a result of the split of ABN Amro in the late 2007, but the deal was cancelled in October 2008. Nevertheless, in June 2009, the company became a strategic investor in Shenzhen Development Bank.
Ping An Insurance group is the holding company of Ping An Life Insurance Company of China Co Ltd and Ping An Property & Casualty Insurance Company of China Co Ltd. It also controls China Ping An Insurance Overseas (Holdings) Limited and Ping An Trust & Investment Co Ltd, the company that has the subsidiaries of Ping An Securities and Ping An Bank. The second holding company of the group is Ping An Insurance Overseas, located in Hong Kong, which holds subsidiary companies located outside of China.
This company, whose name literally means "safe and well", continues to pursue its goal of becoming the “world-leading personal financial services provider”. With 275,000 employees and nearly 870,000 life insurance agents, Ping An provides insurance, banking, investment and internet finance products and services to over 200 million internet users and 100 million customers.