About Us

China Continent Property & Casualty Insurance Co., Ltd (CCIC) was set up in Shanghai on Oct 15th 2003. We are a national property & casualty insurance company that is officially approved by the State Council and China Insurance Regulatory Commission (CIRC). We belong to China Reinsurance (Group) Corporation (stock code: 01508.HK) and we are the only subsidiary that specialized in non-life primary insurance. The registered capital is CNY10.4299841billion.

Basic Situation

In 2017, CCIC achieved CNY37.123 billion in terms of gross premium income for primary insurance, ranked No. 6 in China market.

There are 36 branches and over 2,000 sub branches nationwide. We have business operations almost in every province except Tibet. The company is a big family with nearly 50,000 employees.

We have been rated “A (Excellent)” for Financial Strength Rating (FSR) and “a” for Issuer Credit Rating (ICR) by A.M. Best Company (A.M. Best Co.) since 2014. Furthermore, the rating outlook is stable.

Industry Spectrum

We own three subsidiaries. They are specialized in financial technology, e-commerce and insurance agency respectively.

Service Features

CCIC has been rated A since CIRC started service assessment on insurance companies.

CCIC launched customized claim service called “Four Eras”. Claim via Wechat and “Four Eras”, were awarded as Top 10 Insurance Service Innovations by China Insurance News in 2015 and 2016 respectively.

WeChat Claim - Friends Era: It only costs 3.6 days from loss report to loss settlement when the client uses WeChat self claim service.

Phone Claim - Tiny Era: Through direct tele-claim payment service, small claim takes only 0.8 days from loss report to settle on average, 14 minutes at the soonest.

Fast Claim - Intelligent Era: Quick process applies to simple claim cases. Loss adjusting, assessing, calculating, checking and money transferring can all be done by system automation process.

Injuries Claim - Assistance Era: CCIC provides four kind of assistance to the insured and the injured, including helping customers clarify accident liability, advance payment on medical expense, coordinating dispute over compensation for accidents and providing professional legal advice. CCIC makes the claim process easier under two circumstances. One is no need to provide hardcopy documents for claims lower than 10,000 Yuan and the other is no need to have official certification on disability levels. Cares are expressed through visiting clients and sending gifts. All these considerate actions contribute to a better claim service quality.

In terms of the risk compensation, CCIC has provided more than CNY200 trillion life and non-life insurance protection for over 100 million customers accumulatively, which plays a pivotal figure in society harmony and fuelling the economy. In recent years, the major claim cases include: in 2014, the compensation to a foreign semiconductor company is CNY295 million; in 2015, we paid more than CNY2 billion to our clients in "8.12" Tianjin explosion which was nominated by China Insurance News as Top 10 largest losses with great impact of the year 2015; in 2016, we settled a CNY54.5 million claim with a Shanghai based real estate company and a CNY33.68 million claim with a sock company in Zhejiang. The later one was also nominated by China Insurance News as Top 10 largest losses with great impact of the year 2016; On May 14th 2016, the massive traffic accident happed in Chongqing part of the Bao-Mao Express way. It caused 6 fatalities, 10 heavily injured and 18 minor injured. When the loss report was received, we act as fast as we could and pre-paid CNY4 million to our clients to mitigate their loss. The final settlement figure amounted to CNY9.58 million. In 2017, a shipping company received a CNY40.28 million payment from us; on Jun 6th 2016, the heavy traffic accident in Shen-Hai Express way Rizhao section resulted in 9 death and 24 injuries. We also responded promptly and pre-paid CNY5 million to the insured, etc.

Social Responsibility

Eight of our branches, Shandong, Inner Mongolia, Qinghai, Ningxia, Guangxi, Guizhou, Jiangxi, Chongqing, have close connections with local governments and actively assist local people to get out of poverty.

We work along with China Youth Development Foundations and initiate "CCIC–Hope Project Happy Sports Fund". With the donation, more than 300 poor primary schools can be able to provide sports areas for their kids.

In Xunhua county, Qinhai province, we have donated house, agricultural and medical insurance protections to 113 thousand people in poverty. The total sum insured amounts to CNY2.57 billion

We are the major carrier for critical illness insurance in Chongqing, Yunnan, Inner Mongolia, Guizhou, Jiangxi and other provinces and cities. That is CNY2.32 trillion potential protections to 12.763 million people.

In 2017, we provided free house insurance coverage for local poor people in Gangcha county, Qinghai. The project was so successful that the Insurance Association of China (IAC) awarded us “7.8 Special Contributions in Fighting Poverty". Meanwhile, Gansu branch set up a project to BaiTu village in southern Gansu and Zhejiang branch launched the project of "CCIC cares about rural children whose parents working thousands miles away”. Both projects were nominated by IAC in 2017 as "National Pioneer in Alleviating Poverty".

Future Prospect

Implement the "Three New Three Focus" strategy totally in company transformation.

"New Model": Focus on customers. Upgrading our business model from product centered to customer centered;

"New Structure": Focus on diversity. Transforming CCIC from a property and casualty company to a conglomerate;

"New IT system": Focus on technology. Updating our IT system from operation support to business navigator;

With the above strategies, our vision is to be a complex financial group that can serve our clients in all financial sectors and maximum their value.