Founded in 2002 as a joint venture between Assicurazioni Generali S.p.A. (hereinafter referred to as Generali) and China National Petroleum Corporation (hereinafter referred to as CNPC), Generali China Life Insurance Co., Ltd (hereinafter referred to as GCL) was the first Sino-foreign joint-ventured insurer approved by the Chinese Government for operation after China joined the World Trade Organization (WTO). Now, with a registered capital of RMB 3.7 billion and a total of RMB 50 billion in assets, GCL is one of the largest joint-ventured life insurers in China.
Founded in 1831, the Generali Group is one of the largest global insurance providers with a total premium income of 70 billion euros in 2014. With 77,000 employees worldwide serving 65 million clients in more than 60 countries, the Group occupies a leadership position on West European markets and an increasingly important place on markets in Central Eastern Europe and Asia.
CNPC is a comprehensive, international energy company with a wide range of businesses including oil and gas business, engineering technical service, petroleum engineering, petroleum equipment manufacturing, financial service and new energy development. Its sales revenue, total assets and profits are always one of the highest among large-scale enterprises in China. It also ranks 3rd among the world's top 50 oil companies.
On the rankings of the Fortune Global 500 companies, both Generali and CNPC have long been included in the top 50 in terms of revenue.
Leveraging internationally advanced insurance knowledge and experience and targeted at the Chinese market, GCL provides diverse tailor-made insurance products that meet different needs of the clients, including life insurance, accident insurance, health insurance, investment-oriented insurance and employee benefits program. These products provide wide protections and all-round benefits with flexible premium options and free combinations，which have generated strong characteristics and innovative advantages.
GCL sticks to the "customer-oriented" service philosophy and is dedicated to providing all-round, professional and high-quality services for clients. The quality and efficiency of claim service of GCL has long been leading the insurance industry. Meanwhile, GCL advocates differentiated services and keeps making innovation on service contents. It has developed new types of services as global emergency assistance and direct-billing medical service, which enables customers to enjoy privileged and superior customer attention.
Over the years, GCL has maintained a solid development, with its sales channels expanding healthily, rapidly and sustainably. The Knowledge Agency Channel, well known for its efforts in building a knowledgeable and professional team of individual agents, develops prosperously and wins the recognition from the clients. The Bancassurance Channel has maintained close and sound cooperation with major banks in China. The Group Business Channel serves plenty of global top 500 enterprises in China as well as many well-known Chinese enterprises and institutions. Its business scale and quality has long been No. 1 among foreign and joint-ventured insurance companies. The General Agency Channel, relying on its strong support platforms and advanced service concepts, has established good cooperation with many agents of large-scale group companies and has seen its business developed rapidly. With innovative products and through professional telemarketing, the Direct Marketing Channel is providing convenient and reliable insurance services for its clients.The Online Marketing Channel builds e-commerce platform to promote the cross-sales between online marketing and traditional channels and service model innovation, forming an online marketing model with its own characteristics. In addition, in order to provide better service for its Chinese shareholder, GCL established CNPC Captive Business Channel with a dedicated team to provide exclusive insurance services for CNPC's employees and retirees. The services provided for affiliated companies of CNPC mainly include underwriting and handling claims of various group insurance programs as well as some follow-up services.
Backed by Generali's experience in insurance business and the strength of CNPC and Generali, GCL is committed to building itself into a first-class insurance company in China. Based on its business philosophy of "honesty, customer-first, professionalism and innovation", with "learning, harmony, professionalism, ambition and solidity" as its corporate values, GCL is devoted to create maximum value for its clients, shareholders, sales agents, employees and the society.
In November 2012, GCL was awarded as "The Best Foreign Life Insurance Company of the Year" at the ceremony of "CBN Financial Value Ranking 2012" organized by China Business News (CBN).
In December 2012, GCL was awarded as "The Most Innovative Insurer of the Year" at the ceremony of "List of Golden Financial Institutions in China 2012" organized by Financial News.
In June 2013, at the ceremony of Jin Rong Award — "South China Annual Financial Award 2013" which is honored as "Oscar" of the financial field in Guangdong, GCL's Financial Needs Analysis System (FNA) was awarded as "The Most Competitive Innovative Financial Product of the Year".