As of 2018, the market share of PICC Life in its life insurance sector is 3.6%. While according to S&P Global Ratings, PICC Life's market share (by policy written) in life insurance market in the first half of year 2017 was 4.3% and ranked 4th (10th in 2016). The insurance financial strength rating of PICC Life is A2 (as of 2019), according to Moody's Investors Service. PICC Life also acquired 4.98% stake of Industrial Bank in 2012. PICC via PICC Life and PICC P&C owned a combined 10.87% stake of the bank directly and indirectly at that time as the second largest shareholder. PICC also nominated Li Liangwen (), President of PICC Life at that time, as a director of Industrial Bank in 2013. He was replaced by Fu Anping () in both positions. Since 2016, PICC also owned a minority stake in . Chen Zhigang (), vice-president of PICC Life, also nominated as a non-executive director in 2017. PICC Health Insurance PICC Group has another subsidiary PICC Health Insurance Company Limited (). In the first half of year 2017, the market share (by policy written) of PICC Health in life insurance market was 1.0%, ranked the 19th according to S&P Global Ratings. Founded in 2005, PICC Health was a joint venture with German insurer (for 19% stake; DKV is part of Ergo Group, itself owned by Munich Re) and other investors. However, as of 2018, DKV owned 2.2174% shares of PICC Health. Another Chinese company Capital Airport Holding owned 2.3342% shares. The rest of the shares of PICC Health were owned by PICC Group (for 69.3239%) and its subsidiaries, such as PICC P&C for 24.7262% and another subsidiary for 1.3983%. PICC Asset Management PICC Asset Management ("PICC AM") is the investment arm of the company. This subsidiary is responsible for managing PICC's non-Renminbi assets, channelling cross-border investments, and handling the company's overseas investment. PICC Capital PICC Capital Investment Management Company Limited (“PICC Capital”), a wholly owned subsidiary of the People’s Insurance Group of China, was established in July 2009. PICC Capital is the sole alternative investment platform of PICC Group, and the first asset manager in China’s insurance industry that specializes in alternative investment. PICC Capital takes a major role in strategic asset allocation and strategic resource acquisition for PICC Group. Leveraging on PICC Group’s brand, network and channels, PICC Capital provides financial resources to local governments and corporates