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Insurance partner joins 2008 Olympics
By Lei Lei (China Daily)
Updated: 2005-09-16 05:59

The 2008 Beijing Olympic Games got its official insurance partner yesterday, as an agreement was signed by the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) and PICC Property and Casualty Company Limited (PICC P&C).

PICC P&C, the largest public non-life insurance company on the Chinese mainland, will provide insurance protection and financial support for the Beijing Olympic Games, the Beijing Paralympic Games, BOCOG, the Chinese Olympic Committee and the Chinese sports delegations to the 2006 Turin Winter Olympic Games and the 2008 Beijing Games.

"We have taken up an important task to inherit and carry forward the Olympic spirit in our company, and also a historical responsibility entrusted to us by China's insurance industry," said Tang Yunxiang, PICC P&C board chairman. "PICC P&C will assist BOCOG in running a high-level Olympic Games by giving full play to its advantages in brands, marketing, talent, products, technology, networks, customers and services."

Immediately after the agreement, PICC P&C underwrote its first batch of insurance policies for the 2008 Beijing Olympic volunteers, marking the start of the partnership.

"The policy is specially designed for the 2008 Olympic Games volunteers," said Yin Yanhui, office director of PICC P&C. "We are here to ensure they serve the Games under safe conditions."

PICC P&C is the 10th, and possible final, company to join the elite club of Beijing 2008 partners.

"It is possible that PICC P&C is the final addition, according to our marketing surveys," said Yuan Bin, director of BOCOG Marketing Department. "However, with the Olympics approaching fast, more companies will be interested in joining our partner programme."

Besides the 10 official partners, four Beijing 2008 sponsors have been announced, while the Beijing 2008 Supplier Programme is expected to be launched in the fourth quarter of this year.

(China Daily 09/16/2005 page2)

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