China's PICC sees 566 billion yuan in premium income in 2020

BEIJING -- The People's Insurance Company Group of China, China's leading insurer, posted 566.1 billion yuan (about $87.9 billion) in premium income in 2020.

Total assets stood at 1.3 trillion yuan, and assets under management reached 1.9 trillion yuan.

Last year, PICC donated more than 35 million yuan in epidemic prevention funds and provided about 32,000 enterprises with comprehensive insurance for work and production resumption.

The company has launched 385 exclusive insurance products for poverty alleviation, and agricultural insurance has provided 2.4 trillion yuan in risk protection for 86.07 million households.

In 2021, PICC will accelerate its development of agricultural product insurance and commercial endowment insurance, and will promote the upgrading and expansion of science and technology insurance.