China Pacific Insurance (Group) Co., Ltd (HKG:2601),Ping An Insurance (Grp) Co of China Ltd. (HKG:2318) and China Life Insurance Company Limited (HKG:2628) all provide the people of China with insurance services. Some of these companies offer other financial services, too, but the economy of China is bound to head to new heights. When that happens, the financial sector will be headed in the same direction.

China Pacific Insurance is a Chinese based insurance company that provides a wide array of insurance services, including life, casualty and property insurance. The company is involved in asset management and deploys its funds through subsidiaries. China Pacific is also involved in pension products and reinsurance. China Pacific Insurance (Group) Co., Ltd (HKG:2601) has a market cap of $269.18 billion and their stock is valued at $31.30 per share.

Ping An Insurance is the third largest insurance company in China. The company started off as a casualty insurance company, but since the 90’s, the company has started to diversify its portfolio into financial services. The company accepted investments from Goldman Sachs and Morgan Stanley in 1994 and it was obviously a good investment, considering the company is valued at $471.55 billion and has a stock valued at $64.20 per share. However, 20% of the company is owned by HSBC, which makes the bank a majority shareholder.

China Life Insurance Company Limited offers other forms of insurance to its customers, but that does not stop the company from dominating its competitors. China Life Insurance is the largest insurance company in China. In 2009, the company had 115 million individual and life insurance policies. It also had annuity contracts and long-term health insurance policies in force. The company provides many different insurance services to its clients. China Life Insurance Company Limited (HKG:2628) has a market cap of $985.02 billion and their stock is valued at $34.85 per share.

These companies are constantly rising because the needs of the people in China are constantly changing, and usually for the better. Wages are on the rise, costs are down and Chinese citizens are very frugal with their finances. The financial sectors are bound to do very well due to the fact that the economy is taking off so quickly. When people in China get pay raises and better benefits, they have to adjust their life insurance policies and think of ways to save that money. These companies provide the solutions to their financial needs and they are going to be around for a good while.

CONTACT: 888-288-5215 · Please read our Full Disclaimer pertaining to this article.