Ping An Insurance (Group) Company of China, Ltd. Shanghai Branch (Ping An Shanghai) was founded in 1988. Under the business concept of Expertise Creates Value and the core theme of Being Grateful, Being Forward-Looking, it aims to provide secure, professional and intuitive services for clients’ overseas trade development.
Property insurance is one of the main businesses of Ping An Insurance (Group) Company of China. The professional products and excellent service delivered by the sales team of Ping An Shanghai have won high recognition and a leading reputation from clients in overseas trade. Thirty years of expertise enables the company to cater more to clients’ needs.
Export credit insurance (ECI) accompanies companies’ exports. Since Ping An Shanghai acquired the ECI underwriting qualification in 2014, it has provided ECI services for the overseas trade of export companies. In three years, Ping An Shanghai has offered ECI services to more than a hundred of companies from various fields, such as electric appliances, chemicals, shipping, data communication and electronic devices to protect them from suffering risks from buyers in export trade. And its services have expanded to countries in Europe, Central Asia, Southeast Asia, North America and South America. Today, ECI has developed into an indispensable stabilizer for export companies doing overseas business.
First Major Equipment Insurance for Made in China 2025 Strategic Plan. Since 2015, Ping An Shanghai has provided risk insurance and claim services for large companies, such as Commercial Aircraft Corporation of China, Ltd. (COMAC), Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (HDZH), Shanghai Jiangnan Changxing Heavy Industry Co., Ltd., and Shanghai Electric. Specifically, it has underwritten the product quality and liability insurance of the export trade of HDZH. In 2016, when problems (estimated losses over 30 million RMB) occurred with the hull structure of a 45,000 dwt combination container/ro-ro (con-ro) vessel of HDHZ in Germany, Ping An Shanghai staffed a special claims service team as soon as possible, whose expertise and high efficiency were acknowledged by the client.
Industry’s first M&A Liability Insurance for companies’ overseas M&A. Under the backdrop of the Belt and Road Initiative, companies’ need to insure their risks during M&A has increased. In 2017, Ping An Shanghai provided insurance services for a Shanghai company's acquisition of a European company, the first insurance for a Chinese company’s acquisition of foreign company. The acquisition broke foreign insurance companies’ monopoly in that field. And the insurance services exempted the group company from many concerns about the acquisition, improved its ability to bargain in the acquisition and made it stronger and more efficient during negotiations.
In the future, while continuing to focus on its three major businesses – ECI, First Major Equipment Insurance and M&A Liability Insurance – Ping An Insurance will promote overseas businesses to pave the way for China’s overseas development and try its best to provide insurance services for companies.