Companies

PICC eyes strategic partnership this year

(Agencies)
Updated: 2010-05-19 11:23

China's PICC Group, the country's top non-life insurer, expects to sign a strategic partnership by the end of year before going public, the group's president said in remarks published on Wednesday.

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Wu Yan, the group president, told the China Business News that the company favours large domestic firms as strategic partners, preferably ones that could cooperate with PICC in strategy and business.

He did not give a timeframe for the company's initial public offering plans.

Wu said last year that the domestic investor could be a financial institution or an industrial company.

It is currently entirely owned by China's Ministry of Finance and is the parent of PICC Property & Casualty.