In what year was Jiangtai Insurance Company unveiled?

In 2002, China Life.

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Chronicles of China’s Insurance Industry

In 1805, the British established Yuren Insurance Company in Guangzhou, which was the earliest insurance company in China.

In 1875, the earliest Chinese insurance company, Yihe Company Insurance Company, was established in Shanghai.

In 1899, China Yongnian Life Insurance Company, the first life insurance company operated in China, was established.

In 1949, there were more than 400 Chinese and foreign insurance companies in Shanghai, including 126 Chinese insurance companies.

On October 20, 1949, the People's Insurance Company of China was established in Beijing, marking the birth of a unified national insurance institution in New China. It was also the first state-owned insurance company after the founding of New China.

In December 1952, the monopoly position of foreign insurance companies in China was completely changed. Various privileges were cancelled, and business sources were sharply reduced. By the end of the year, all of them had voluntarily applied for suspension of business and exited the Chinese insurance market.

In October 1958, the National Financial and Trade Work Conference in Xi'an proposed that: after the people's communes, the role of insurance work has disappeared. Except that foreign insurance business must continue to be handled, domestic insurance business should be stopped immediately.

Since 1959, except for Shanghai, Harbin and other places, which continued to operate for a period of time, all domestic insurance businesses in the country have been suspended.

In September 1959, the state-owned insurance business was established for 10 years. Insurance summary: ***RMB 1.62 billion in insurance premiums were collected, of which property insurance accounted for 91.19%, and personal insurance accounted for 8.81%. ***380 million yuan was paid in compensation, 13 million yuan was allocated for disaster prevention expenses, and 400 million yuan of insurance funds were accumulated. , turned over 500 million yuan to the national finance.

In December 1968, the People's Insurance Company of China decided that the reinsurance of overseas business should be handled by Min'an Insurance Company, the life insurance business should be handled by China Insurance Company, and the insurance business in Hong Kong, Macao, New Zealand and other regions should be handled by China Insurance Company. Delegated to the Hong Kong Branch of China Insurance Company for management.

From April 1, 1972, ship insurance for China Ocean Shipping Company was resumed.

Since 1973, PICC has launched oil pollution and other insurance for processing of supplied materials, construction engineering installation, oil exploration, drilling platforms, oil tankers and other insurances.

In 1974, PICC launched aviation insurance for international routes.

Insurance was reinstated in 1978. However, property and life insurance are merged.

On November 19, 1979, the People's Bank of China held a national insurance work conference in Beijing, and the domestic insurance business that had been suspended for more than 20 years began to resume operations. The Insurance Institute of China was established.

On December 31, 1981, our country promulgated the "Economic Contract Law of the People's Republic of China", which stipulated the principles of property insurance contracts and became the basis for formulating relevant laws.

In 1982, simple life insurance was launched.

On September 1, 1983, the State Council promulgated and implemented the "Regulations on Property Insurance Contracts of the People's Republic of China". This was the first regulation on property insurance contracts after the founding of New China.

In September 1983, with the approval of the State Council, the People's Insurance Company of China was upgraded to a bureau-level economic entity directly under the State Council. On January 1, 1984, it was separated from the People's Bank of China and accepted the leadership and management of the People's Bank of China. Supervision and auditing.

On November 20, 1984, with the approval of the People's Bank of China, the People's Insurance Company of China could use part of its insurance reserves to invest and establish an investment company.

On March 3, 1985, the State Council promulgated and implemented the "Interim Regulations on the Management of Insurance Enterprises", which was the first legal document for the management of insurance enterprises after the founding of New China.

In October 1986, Bank of Communications, my country's first joint-stock comprehensive bank, established an insurance business department to operate insurance business, breaking the exclusive monopoly of Shanghai's insurance business by the People's Insurance Company of China.

On March 21, 1988, Ping An Insurance Company was established as a joint venture between China Merchants Shekou Industrial Zone and Shenzhen Industrial and Commercial Bank of China, with a capital of 45 million yuan. This is my country's first joint-stock, local insurance company. On September 29, 1992, it was renamed Ping An Insurance Company of China.

On April 26, 1991, Bank of Communications’ insurance business established China Pacific Insurance Company in accordance with the requirements of separate management.

In September 1991, the drafting of my country's first insurance law since the founding of the People's Republic of China began.

In September 1992, the People's Bank of China approved the establishment of AIA, a subsidiary of American International Group, in Shanghai. Branch, this is the first foreign insurance company approved to enter the Chinese insurance market since my country’s insurance market was opened to the outside world.

In November 1992, the first generation of life insurance agents trained by AIA took to the streets to start their business. This agent system triggered a drastic change in marketing concepts, and the life insurance agent system was quickly adopted by the domestic life insurance industry.

In June 1994, Ping An Insurance Company of China successfully attracted shares from two major American consortiums, Morgan Stanley and Goldman Sachs, becoming the first insurance company in China to introduce foreign investment.

Adopted at the 14th meeting of the Standing Committee of the Eighth National People's Congress on June 30, 1995. It came into effect on October 1 of the same year.

The promulgation and implementation of the Insurance Law of the People's Republic of China marks that my country's insurance industry has entered a new era of legal system construction.

On October 1, 1995, the "Insurance Law of the People's Republic of China" was promulgated and implemented.

On November 26, 1996, the People's Bank of China approved the joint venture between Manulife Life Insurance Company of Canada and Foreign Trade Trust to establish Zhonghong Life Insurance Co., Ltd. in Shanghai. This was the first approved establishment since my country's insurance market opened to the outside world. The first joint venture insurance company.

On November 18, 1998, with the approval of the State Council, the China Insurance Regulatory Commission was officially established in Beijing. As the competent department of commercial insurance companies nationwide, it centrally and uniformly supervises and manages the national insurance market.

On October 25, 1999, Ping An Insurance Company of China was the first to launch investment-linked insurance in Shanghai. Investment insurance brought profound changes to my country's life insurance market. Participating insurance and universal life insurance similar to this type of insurance have been launched one after another.

On June 16, 2000, Jiangtai Insurance Brokerage Co., Ltd., the first domestic insurance broker, was unveiled in Beijing, becoming China's first national comprehensive insurance brokerage company.

On November 16, 2000, the China Insurance Industry Association was announced in Beijing.

On December 11, 2001, my country officially joined the WTO and made "high-level, high-level policies" for the insurance industry. Commitment to open up in a wide range of fields and in stages”

In 2002, China Life launched the restructuring and restructuring work, and was successfully listed in New York and Hong Kong in 2003

In 2003, PICC successfully completed its restructuring and restructuring , PICC Property & Casualty was successfully listed on the Hong Kong Stock Exchange

Starting from the end of 2003, restrictions on the establishment of foreign non-life insurance companies in China have been lifted. At the same time, all business restrictions will be relaxed for foreign-funded non-life insurance companies, except for relevant statutory insurance business. my country's insurance industry has been fully opened to the outside world.

In May 2004, four foreign-funded property and casualty insurance branches were transformed into wholly-owned companies. So far, the business institutions established by foreign-funded property and casualty insurance companies in China include branches, wholly-owned companies, and joint ventures

By the end of May 2004, the total assets of China's insurance industry had exceeded 1 trillion yuan

On December 11, 2004, the transition period for China's insurance industry to join the WTO was completed, and the insurance industry entered a new period of comprehensive opening up to the outside world, showing a new situation of opening up to the outside world with China as the mainstay, complementary advantages, win-win cooperation, and harmonious development.

On April 6, 2006, the "Insurance Salesperson Management Regulations" were promulgated.

In June 2006, the "Several Opinions of the State Council on the Reform and Development of the Insurance Industry" (also known as the "Ten National Articles") were officially released

On January 9, 2007, the much-anticipated The first stock in China’s insurance industry, China Life, landed on the A-share market

On March 1, 2007, after setting an IPO record for the world’s largest insurance company at the time, Ping An Insurance (Group) Co., Ltd. of China successfully landed on the A-share market. A-share market

At the end of March 2007, the total assets of China's insurance industry reached 2.24 trillion

In September 2007, the China Insurance Regulatory Commission issued the "Notice on Matters Concerning Improving the Management of Aviation Accident Insurance" ", handing over the development and pricing rights of aviation insurance products to insurance companies, hoping to promote market competition and standardized development through market mechanisms. At this point, the administrative pricing ice of aviation insurance that was once criticized by the public has been broken, and aviation insurance has entered a new market pricing stage.

On December 4, 2007, the China Insurance Regulatory Commission announced the "Regulations on the Supervision of Solvency of Insurance Companies (Draft for Comments)", which will abolish the "Regulations on the Management of Minimum Solvency and Supervisory Indicators of Insurance Companies" after the implementation of these regulations.

On December 25, 2007, China Pacific Insurance, the third largest insurance group in China, officially landed on the A-share market

In the first half of 2008, the original premium income of my country’s insurance industry was 561.791 billion yuan, of which property The original premium income of insurance was 129.927 billion yuan, and the original premium income of personal insurance was 431.864 billion yuan. The original insurance compensation expenditure was 154.388 billion yuan, and the total assets of the insurance industry reached 3.023589 billion yuan.

China's premium income increased by 7.5% year-on-year from January to May 2009. In the first five months of this year, the country's premium income reached 494.7 billion yuan, continuing to maintain steady business growth.

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