People's Bank of China
PICC was founded in 1949 as The People's Insurance Company of China (PICC; ), as a subsidiary of the People's Bank of China. However, it was reported that PICC was disestablished in 1950. The People's Bank of China provided insurance directly, except from years 1952 to 1959, which the service was provided by the Ministry of Finance (MOF) instead. In 1965, PICC was re-established. In 1983, it was separated from the People's Bank of China as a separate entity that under the supervision of the State Council of the People's Republic of China. In 1985, People's Bank of China was the regulator, while the MOF supervised the financial reporting of the company; the was the state planner of the whole industry.