PICC and Evergrande Reach Strategic Cooperation

HONG KONG, April 24, 2015 /PRNewswire/ -- The People's Insurance Company (Group) of China Limited (PICC) entered into a strategic cooperation agreement with Evergrande in Beijing on Apr. 24, marking the establishment of long-term, steady and mutual-beneficial cooperation between the two parties. An original report from Sina Leju follows.

The signing ceremony was attended by top managements of both parties, including Wu Yan, President and Secretary of the Party Committee at PICC, Wang Yincheng, Vice President, CEO and Deputy Secretary of the Party Committee at PICC, Li Yuquan, Executive Vice President at PICC, Hui Ka Yan, Board Chairman at Evergrande, Xia Haijun, Vice Chairman of the Board and CEO at Evergrande, Tan Chaohui, Executive Vice President at Evergrande and President at listed Evergrande Health Industry Group Co. Ltd.

The strategic cooperation between PICC and Evergrande will cover insurance service, investment and financing, supplementary pension and pension for enterprises, new business and other fields of business. To achieve win-win development, the two groups have reached agreement on having multi-level, strategic cooperation in commercial insurance, pension, health management, Internet resources sharing, investment and financing through giving a full play to their industrial advantages and resources.

PICC is a large state holding group engaged in insurance and financial business, and the group has developed over 10 subsidiaries, such as PICC P&C, PICC Asset Management, PICC Health Insurance, PICC Life Insurance, PICC Investment Holding and PICC Capital Management. Evergrande Group is a conglomerate specializing in residential building, cultural tourism, FMCG, healthcare and sports industries, as data revealed.