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China insurance memorabilia
1805, the British established the People's Insurance Company in Guangzhou, which is the earliest insurance company in China.
1875, Jardine Matheson Insurance Bank, the earliest insurance company in China, was established in Shanghai.
1899 China Yongnian life insurance company, the first life insurance company in China, was established.
1949, there were about 400 Chinese and foreign insurance companies in Shanghai, including Chinese insurance companies 126.
1949 10 10 On October 20th, the People's Insurance Company of China was established in Beijing, which marked the birth of a unified national insurance institution in New China and the first state-owned insurance company after the founding of New China.
1952 65438+February, the monopoly position of foreign insurance companies in China was completely changed, all kinds of privileges were cancelled, and the business sources were sharply reduced. By the end of the year, all of them will automatically apply for suspension of business and withdraw from the China insurance market.
1958 10, Xi The conference on finance and trade in safe countries proposed that after the People's Commune, the role of insurance work has disappeared, and domestic insurance business should be closed immediately except for foreign insurance business.
Starting from 1959, China's domestic insurance business has been closed except for Shanghai and Harbin.
1September 1959, 10 National Security Summary: * * Income insurance premium16.2 billion yuan, of which property insurance accounts for 9 1. 19%, personal insurance accounts for 8.8 1%, and compensation *.
196865438+February, China People's Insurance Company decided that the reinsurance of overseas business should be handled by Min 'an Insurance Company, the reinsurance of life insurance business should be handled by China Insurance Company, and the insurance business of Hong Kong, Macao and New Zealand should be entrusted to China Insurance Company Hong Kong Branch for management.
From April 1972, the ship insurance of China Ocean Shipping Company was resumed.
Since 1973, PICC has begun to handle insurance for processing of incoming materials, installation of construction projects, oil exploitation, oil pollution of drilling platforms and tankers.
1974, PICC launched aviation insurance for international routes.
1978 insurance will be handled again. However, property insurance and life insurance merged.
1979 1 191October 19, the people's bank of China held a national insurance conference in Beijing, and the domestic insurance business began to resume after being interrupted for more than 20 years. Insurance institute of china was founded.
198 1 year1February 3 1 day China 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.
Simple life insurance was introduced in 1982.
1983 1 In September, the State Council promulgated and implemented the Regulations on Property Insurance Contracts in People's Republic of China (PRC), which was the first regulation on property insurance contracts after the founding of New China.
September 1983 With the approval of the State Council, China People's Insurance Company was upgraded to a bureau-level economic entity directly under the State Council. 1October 1984 was separated from the People's Bank of China and accepted the leadership, management, supervision and audit of the People's Bank of China.
1984165438+1October 20th, with the approval of the People's Bank of China, China People's Insurance Company can invest part of its insurance reserve to set up an investment company.
1On March 3, 985, the State Council promulgated and implemented the Interim Regulations on the Management of Insurance Enterprises, which was the first legal document on the management of insurance enterprises after the founding of New China.
1986 10 Bank of Communications, the first joint-stock comprehensive bank in China, set up an insurance business department to operate insurance business, breaking the monopoly of insurance business in Shanghai by PICC.
1988 March 2 1 day, Ping An Insurance Company was established with 45 million yuan invested by China Merchants Shekou Industrial Zone and Shenzhen Industrial and Commercial Bank. This is the first joint-stock and local insurance enterprise in China. On September 29th, 1992 was renamed as China Ping An Insurance Company.
1991On April 26th, Bank of Communications established China Pacific Insurance Company according to the requirements of separate operation.
199 1 September, the first insurance law was drafted since the founding of new China.
1In September, 1992, the People's Bank of China approved AIA, a subsidiary of American International Group, to set up a branch in Shanghai, which was the first foreign-funded insurance company allowed to enter the insurance market in China since China's insurance market was opened to the outside world.
In June 1992 1 1, the first generation of life insurance agents trained by AIA took to the streets to participate in the exhibition. This kind of agent system triggered a drastic change in marketing concept, and the life insurance agent system was quickly adopted by the domestic life insurance industry.
From June 65438 to June 0994, China Ping An Insurance Company successfully absorbed Morgan Stanley and Goldman Sachs, becoming the first insurance company in China to introduce foreign capital.
1Adopted at the14th meeting of the Eighth NPC Standing Committee on June 30th, 995. In the same year, 65438+ 10 month 1 was implemented. The promulgation and implementation of "People's Republic of China (PRC) Insurance Law" indicates that the insurance industry in China has entered a new period of legal construction.
1995 65438+ 10 1 The Insurance Law of People's Republic of China (PRC) was promulgated and implemented.
1996165438+1On October 26th, the People's Bank of China approved Canadian Manulife Insurance Company and Foreign Trade Trust to set up Hong Zhong Life Insurance Co., Ltd. in Shanghai, which is the first joint venture insurance company approved since China's insurance market was opened to the outside world.
1998165438+10/8 with the approval of the State Council, China Insurance Regulatory Commission was formally established in Beijing, as the competent department of commercial insurance companies in China, to centrally supervise and manage the national insurance market.
1999 10 10 On 25th October, China Ping An Insurance Company launched the investment-linked insurance for the first time in Shanghai, which brought profound changes to the life insurance market in China. Dividend insurance and universal life insurance similar to this kind of insurance have also been introduced.
On June 16, 2000, Jiang Tai Insurance Brokerage Co., Ltd., the first domestic insurance brokerage company, was inaugurated in Beijing, becoming the first national comprehensive insurance brokerage company in China.
On June 165438+1October16, 2000, China Insurance Association was announced in Beijing.
200165438+February 1 1, China formally joined the WTO, and made a commitment to "open the insurance industry in a high level, in a wide range and in stages".
In 2002, China Life started restructuring and successfully listed in new york and Hongkong in 2003.
In 2003, China PICC successfully completed its restructuring, and PICC P&C was successfully listed on the Hong Kong Stock Exchange.
Since the end of 2003, foreign non-life insurance companies have lifted the restrictions on setting up companies in China. At the same time, except for the statutory insurance business, all business restrictions are liberalized for foreign non-life insurance companies. China's insurance industry has been fully opened to the outside world.
In May, 2004, four foreign-funded property insurance branches were transformed into wholly-owned companies. Up to now, foreign-funded property insurance companies have set up branches, wholly-owned companies and joint ventures in China.
By the end of May 2004, the total assets of the insurance industry in China had exceeded 1 trillion yuan.
On June 5438+February, 2004 1 1, the transition period of China's insurance industry entered a new era of all-round opening up, showing a new situation of self-reliance, complementary advantages, win-win cooperation and harmonious development.
On April 6, 2006, the Regulations on the Administration of Insurance Marketers was promulgated.
In June, 2006, "Several Opinions of the State Council on the Reform and Development of Insurance Industry" (also known as "National Ten Articles") was officially released.
On June 9th, 2007, 65438, China Life, the first insurance company in China, landed on the A-share market.
On March 1 2007, China Ping An Insurance (Group) Co., Ltd. successfully landed in the A-share market after setting an IPO record for the largest insurance company in the world at that time.
At the end of March 2007, the total assets of China insurance industry reached 2.24 trillion.
In September 2007, the China Insurance Regulatory Commission issued the Notice on Improving the Management of Aviation Accident Insurance, giving the insurance companies the right to develop and price aviation accident insurance products, hoping to promote market competition and standardized development through market mechanisms. At this point, the hard ice of administrative pricing of aviation insurance, which was once criticized by the public, has been broken, and aviation insurance has entered a brand-new market pricing stage.
On February 4, 2007, 65438, the China Insurance Regulatory Commission promulgated the Regulation on the Solvency of Insurance Companies (Draft for Comment), which will be abolished after the implementation of the Regulation on the Management of Minimum Solvency and Supervision Indicators of Insurance Companies.
On February 25th, 2007, China Pacific Insurance, the third largest insurance group in China, officially landed in the A-share market.
In the first half of 2008, the original premium income of China insurance industry was 56 179 1 100 million yuan, of which the original premium income of property insurance was1299.27 billion yuan, and the original premium income of personal insurance was 43186.4 billion yuan. The original insurance payment expenditure was154.388 billion yuan, and the total assets of the insurance industry reached 3,023.589 billion yuan.
From June to May 2009, China's premium income increased by 7.5% year-on-year. In the first five months of this year, the national premium income reached 494.7 billion yuan, which continued to maintain the steady growth of business.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.