PICC Seeks Strategic Partners for IPO Run-up

(Beijing) - People's Insurance Group of China (PICC) is negotiating with potential strategic investors, including major state-owned companies, as part of a plan to launch an initial public offering.

PICC Chairman Wu Yan, speaking at a September 13 press conference, said SOEs are among the potential investors eyeing stakes thanks to the state-owned insurance giant's strong performance and profitable subsidiaries, all of which are making money.