China Pacific Life Insurance (HK) Company has received authorisation from the Hong Kong Insurance Authority to operate long-term insurance business in the special administrative region.
The licence, dated Nov. 18, enables the insurer to play an important role in China Pacific Life Insurance’s strategy for the Greater Bay Area (GBA) strategy, said John Cai, general manager and CEO of CPIC Life. The Hong Kong operation also serves as a springboard for CPIC’s international business, he said.
Cai said that CPIC is pursuing its Big Health Strategy, which integrates health management, insurance products and medical services. It took part in the establishment of Guangci CPIC Internet Hospital, the first private online-offline hospital in Shanghai, as well as various online health management and medical care services. This marks an important step towards a health management model that is closely linked with insurance.
PIC is also expanding its Pacific Care Home senior communities across China, including the GBA, to provide quality elderly care to customers in the mainland and Hong Kong.
“The company’s vision is to be the best customer experience life insurance company in Hong Kong, with products focus on health protection, wealth management and retirement solutions,” said Candy Yuen, chief executive officer of CPIC Life (HK). “CPIC is a Fortune Global 500 Company, with abundant experience and resources that CPIC Life (HK) can leverage on to create synergy. We plan to give our customers access to the group’s health management services and Pacific Care Home, to serve our customers in a truly holistic and seamlessly integrated manner. As a new player to an industry with a long history, we will strive to offer our customers fresh, smart and delightful experience, with a spirit of ‘dare to innovate, care to collaborate’.”