Ping An Insurance is China’s No. 2 insurer, second only to China Life. It listed in Hong Kong in 2004 and had its Shanghai IPO last March, raising $5 billion. The company has also moved into banking: Ping An acquired Shenzhen Commercial Bank in 2006 and recently merged it with its Shanghai-based Ping An Bank. With total assets of $58 billion, the company is planning to invest overseas once regulatory hurdles are overcome in Beijing.