On this day, 76 years ago, on October 20, 1949 (August 29, 1949, the People's Insurance Company of China was established. In September 1949, the first National Insurance Work Conference was held to prepare for the establishment of the People's Insurance Company of China. Representatives took a group photo. The history of my country's national insurance industry dates back 100 years. In 1885, in order to get rid of the control of the foreign insurance industry on our country, China Shipping and Investment Bureau established the "Renhe" and "Jihe" insurance companies in Shanghai. From then on, a new era for my country's national insurance industry began. However, due to imperialist aggression at that time, my country's economy was in a backward state for a long time, and the development of the insurance industry was struggling. After the Revolution of 1911, my country's economy, especially emerging industries, developed, and insurance companies also developed in some large cities. Ethnic insurance companies gradually increased to handle some insurance business. On October 20, 1949, the People's Insurance Company of New China was established. From then on, my country began to operate insurance business independently. This was a major turning point in the history of my country's insurance. With the recovery and development of the national economy, various insurance businesses were gradually developed. More than 2000 branches were established across the country, and the insurance industry team had nearly 50,000 members. The development of the insurance industry played a positive role in the national economy at that time. Economic compensation role. However, in 1958, due to the erroneous belief that our country's economy had become "one big and two public", it was no longer necessary to use insurance to solve economic compensation for disasters. Insurance had completed its historical mission. As a result, it was decided to suspend domestic insurance business from 1959. The 20 years from 1959 to 1978 left a gap in the history of People's Insurance of China. During this period, major natural disasters such as the Xingtai earthquake, the Haicheng earthquake, the Tangshan earthquake, and floods in Sichuan and Shaanxi occurred in our country, which had a great impact on the stability of national finances and caused irreparable losses to people's production and life. After the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, the State Council resumed domestic insurance business in accordance with the needs of the country's economic system reform and opening up policies. Since then, China's insurance industry has gained a new life. In just over a decade, my country's insurance business volume has increased at a rate of 50% every year, and the scope of insurance business has also continued to expand. At present, the People's Insurance Company of China has established thousands of branches and more than 10,000 full-time agencies across the country. At the same time, the People's Insurance Company of China has also established extensive ties with the insurance community in various regions of the world, established reinsurance relationships with more than 1000 insurance companies, reinsurance companies and insurance brokerage companies in more than 120 countries and regions, and participated in the Asian-African Insurance and Reinsurance Federation and its affiliated reinsurance groups. Now, China's insurance industry is struggling to transcend its infancy and welcome the upcoming "adult coronation" ceremony.