China BOCOM Insurance Co., Ltd., with approval from the People's Bank of China, China Insurance Regulatory Commission( currently known as ‘China Banking and Insurance Regulatory Commission’ ) and the Insurance Authority of Hong Kong, was established in Hong Kong in November 2000 and was authorized to provide various kinds of general insurance products and services to the customers.
China BOCOM Insurance Co., Ltd. is wholly owned by Bank of Communications Co., Ltd. with authorized and paid-up capital of HK$400,000,000. Since 2014, China BOCOM Insurance has obtained credit rating from A.M. Best. The current rating on financial strength rating (FSR) is A- (Excellent) and the issuer credit rating (ICR) is “a-” with stable outlook. Since October 2006, China BOCOM Insurance have successfully obtained ISO 9001 certification. It shows that we have continuous improvement of the quality of our products and services.
Founded in 1908, Bank of Communications Co., Ltd. (hereinafter called “the Bank”) is one of the note-issuing banks with the longest history in modern China. The Bank reopened after reorganization on 1 April 1987. It is the first nationwide state-owned joint-stock commercial bank in China, with Head Office located in Shanghai. The Bank was listed on the Hong Kong Stock Exchange in June 2005 and on the Shanghai Stock Exchange in May 2007.
The Bank’s business scope includes commercial banking, securities, offshore financial services, fund management, trust, financial leasing, insurance, offshore securities, debt-for-equity swaps, and asset management, etc. As at the end of June 2020, the Bank has set up 245 domestic branches, including 30 Tier-1 branches, 7 directly operating branches of Head Office and 208 Tier-2 branches. 3,025banking outlets were set up in 243 prefecture-level cities or above and 163 county-level cities nationwide. There are several non-bank subsidiaries, mainly including wholly-owned subsidiaries such as Bank of Communications Financial Leasing Co., Ltd., China BoCom Insurance Co., Ltd., and BoCom Financial Asset Investment Co., Ltd., BOCOM Wealth Management Co., Ltd. and subsidiaries with the controlling interests including Bank of Communications Schroder Fund Management Co., Ltd., Bank of Communications International Trust Co., Ltd., BoCommLife Insurance Company Limited and BoCom International Holdings Company Limited. Moreover, the Bank is the largest shareholder of Changshu Rural Commercial Bank Co., Ltd. and the paratactic largest shareholder of Bank of Tibet Co., Ltd. The Bank has strategically invested in the Bank of Hainan, and controlled four rural banks.
The Bank set up 22 overseas banking subsidiaries and branches in 17 countries and regions, including Hong Kong Branch and Bank of Communications (Hong Kong) Limited, New York Branch, Tokyo Branch, Singapore Branch, Seoul Branch, Frankfurt Branch, Macau Branch, Ho Chi Minh City Branch, San Francisco Branch, Sydney Branch, Taipei Branch, London Branch and Bank of Communications (UK) Ltd., Bank of Communications (Luxembourg) S.A. and Luxembourg Branch, Brisbane Branch, Bank of Communications (Luxembourg) S.A. Paris Branch, Bank of Communications (Luxembourg) S.A. Rome Branch, Bank of Communications (Brazil) Co., Ltd., Melbourne Branch Prague Branch and Toronto representative office, and established 68 overseas banking outlets in total (excluding the representative offices).
With the strong client network and excellent financial strength of the Bank of Communications Co., Ltd., we are confident that China BOCOM Insurance Co., Ltd. will have a promising future. China BOCOM Insurance Co., Ltd. will base in Hong Kong and treat all customers as its valuable clients. With prudent management philosophy, we try to provide prompt and best quality of insurance services to our customers. Facing the rapid change of market, China BOCOM will keep launching innovative insurance products and strive to provide our customers with the high quality and professional services.
China BOCOM Insurance Co., Ltd. is aimed to be an enduring and successful company serving all its customers.
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