PICC Group Holds Mid-Year Conference for 2026

The People's Insurance Company (Group) of China Limited convened its 2026 half-year work conference in Beijing on July 22.

Zhao Peng, Vice Party Secretary and President of the Group, delivered a speech titled "Anchoring Ourselves to First-Class Standards, Maintaining Confidence, and Going All Out to Accomplish Annual Goals and Tasks."

Representatives from the Central Financial Commission, the National Audit Office, and the National Financial Regulatory Administration attended the meeting to provide guidance.

In the first half of the year, the company adhered to the general principle of pursuing progress while ensuring stability, firmly established a correct view of political performance, closely followed the requirements for the start of the 15th Five-Year Plan period, solidly promoted high-quality development, actively served national interests, achieved steady progress in business operations, advanced risk prevention and control, and strengthened leadership through Party building, yielding new results in building a first-class enterprise. By the end of June, the Group had provided insurance coverage amounting to 204.6 trillion yuan, a year-on-year increase of 14.9%.

Key Meeting Highlights

The meeting emphasized the need to maintain strategic resolve, consistently regard the construction of a world-class insurance and financial group as the overarching strategic objective, serve national interests with top-tier coverage, guide development processes with first-class goals, and calibrate all tasks with premium standards.

It was stressed to have confidence in development, safeguard the fundamental business, cultivate new growth drivers, and stabilize business development by deepening existing operations and exploring new opportunities.

Enhancing the quality and efficiency of development by integrating value creation throughout the entire chain, including underwriting, pricing, claims management, investment control, and synergy enhancement, was highlighted.

The importance of upholding safety as a bottom line, ensuring high-quality development is underpinned by high-level security, was also underscored.

Strategic Focus Areas

The conference called for earnestly implementing the decisions and plans of the Party Central Committee, putting into practice the spirit of the Party building work conference for the financial system, and unwaveringly adhering to the goals and tasks set at the Group's annual work conference.

It urged acting with a stronger sense of responsibility and urgency to proactively secure development victories and ensure a strong start to the 15th Five-Year Plan period.

Five key areas of focus were outlined: enhancing functional strength to demonstrate the mission and responsibility of a central state-owned insurance enterprise in serving national interests; stabilizing development to go all out to complete annual targets and tasks amidst challenges; emphasizing reform and innovation to invigorate grassroots units; strengthening risk prevention to build robust safety barriers; and intensifying Party building efforts to improve the efficacy of financial governance.

Conference Proceedings

During the conference, the Group's Strategy Department, Finance and Accounting Department, and Board Office presented analyses of the half-year business management situation.

PICC Property and Casualty Company Limited, PICC Life Insurance Company Limited, PICC Asset Management Company Limited, and PICC Health Insurance Company Limited reported on their work in the first half of the year and their plans for the second half.

Group leaders, senior executives, equity directors, heads of Group departments and subsidiaries, and members of the discipline inspection and supervision team stationed at the Group attended the meeting at the main venue.

Personnel at the division level and above within the Group, department-level personnel and above from subsidiaries and member companies, leadership teams from provincial branches of PICC P&C, PICC Life, and PICC Health, as well as principals from provincial institutions of PICC Pension, PICC Investment Holding, and PICC Technology participated via video conference in separate venues.