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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.
Founded in 1908, the Bank is one of banks with the longest history in modern China. The Bank reopened after reorganization on 1 April 1987 and became 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. In 2023, the Bank ranked 9th among global banks in terms of tier-1 capital.
Guided by the strategic goal of “building a world-class banking group with distinctive advantages”, the Group regarded green finance as the keynote for operation development, continued to build four major business characteristics, which include inclusive finance, trade finance, sci-tech finance and wealth finance. The Group continuously improved the five professional capabilities of customer management, technology leadership, risk management, co-operation and resource allocation. With the construction of “Shanghai Base” and digital transformation as strategic breakthroughs, the Group was guided towards a high-quality development.
Upon approval by the NAFR, the Bank provides comprehensive financial services including deposits and loans, supply chain finance, cash management, international settlement and trade financing, investment banking, asset custody, wealth management, bank cards, private banking, treasury businesses, etc. for 2.7565 million corporate customers and 195 million retail customers through online service channels such as mobile banking and online banking, as well as over 2,800 domestic outlets and 23 overseas branches (subsidiaries) and representative offices. The Group is involved in businesses such as financial leasing, fund, wealth management, trust, insurance, overseas securities, and debt-to-equity swap through wholly-owned or controlling subsidiaries.
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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