Spearheaded by the Ministry of Housing and Urban-Rural Development and jointly supported by ten ministries and commissions, Chang An Property and Liability Insurance Ltd. (hereinafter CAPLI) was established in response to the State Council’s call for greater effort to developing liability insurance business. Headquartered in Beijing, CAPLI was approved by China Insurance Regulatory Commission on September 29, 2007, with a registered capital of RMB 1.62 billion.
CAPLI is the only specialized liability insurance company in China featured with liability insurance as its main business, covering credit insurance, guarantee insurance, property insurance, short term health insurance and accident insurance, etc. In recent years, through strengthening R&D on liability insurance products that are closely linked with social economic development and daily life, the company developed key products and niche markets in regard to food safety liability insurance, public liability insurance of fire and safety production liability insurance of construction industry.
Innovation has always been central to CAPLI’s corporate culture. The company fully taps into its advantages in market segments of special insurance, developing novel products to meet customers’ requirements, such as Love Insurance, Performance Guarantee Insurance for Construction Project and Performance Guarantee Insurance for Mortgage (counter guarantee) Contract Modification Agreement, thus constantly improving the business structure and raising the company’s embedded value.
For the past eight years, CAPLI has been firmly adhering to the value of “Simplicity, Excellence, Honesty, Innovation, Life-long Learning, Enjoyable Working, Result-Orientation, Employee Enhancing and Responsibility”, pursuing individual and social responsibility, utilizing the intrinsic advantage for excellence, focusing on providing unique and high-quality risk aversion and insurance services as well as professional and systemic risk management solutions, thus winning wide acceptance and trust from the clients.
The company has always been taking development as its first priority especially in terms of efficient, characteristic, innovative, regulated and prudent development since its establishment, making headway in various areas. By the end of Dec. 2015, it maintains 14 provincial-level subsidiaries with up to 239 branches in operation.Up to date, it has underwritten insurance coverage up to RMB 3.9 trillion, and reached out to approximately 6 million customers.