PICC Health OKed to Up Registered Capital
China’s Insurance Regulatory Commission (CIRC) yesterday gave PICC health insurance Co., Ltd. green light to lift its registered capital to CNY 3.97 billion from CNY 3.65 billion.
PICC Health, a modern joint-stock insurance firm sponsored by PICC Group, DKV, and other companies in China, has an initial registered capital of CNY 3 billion. The company is engaged in renminbi and foreign currency health insurance service, accident insurance service, health insurance services in accordance with the government healthcare measures, and consulting services and agent services related to health insurance services.
PICC Health raked in insurance premium of CNY 4.083 billion in the first 11 months of 2011, dipping 53.72% year on year.
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