About CHINA TAIPING Company

China Taiping Insurance Group Co., Ltd., “China Taiping” for short, is a central financial insurance group with management headquarters in Hong Kong, China. China Taiping is the oldest national brand in China's insurance industry today. It was founded in Shanghai in 1929. In 1956, Taiping Insurance, along with other national insurance companies, became a member company of the former People's Insurance Company of China. According to the unified deployment of the country, Taiping Insurance specializes in overseas business. In 1999, it was ordered to fully control all overseas operating institutions of the former People's Insurance Company of China, and gradually developed into the only comprehensive cross-border insurance group in the Chinese insurance industry. Entered the domestic market again in 2001. In 2009, brand integration of subsidiary companies was completed. In 2013, China Taiping completed the group restructuring and overall listing at the same time. After 86 years of ups and downs, China Taiping has developed into a large-scale multinational financial insurance group with 200,000 employees, 24 subsidiaries, more than 1,400 business institutions at all levels, and total assets of 400 billion yuan. The business area covers countries and regions such as mainland China, Hong Kong and Macau, North America, Europe, Oceania, East Asia and Southeast Asia. The business scope covers life insurance, industrial insurance, reinsurance, reinsurance brokerage and insurance agents, asset management, securities brokerage, asset management, securities brokerage, financial leasing, real estate investment, pension industry investment and e-commerce. One-stop comprehensive financial insurance service. Since 2012, China Taiping has seized the important strategic opportunities brought by inclusion in the Central Management Agency. On the basis of comprehensive and thorough verification, China Taiping has formulated a medium- and long-term development plan to build a “leading domestic, world-class comprehensive financial insurance group” and the strategic goal of “rebuilding a new Taiping in three years”. The entire group's development has entered the fast track, and the group's specialized operation capabilities have continued to improve, and has achieved continuous, healthy and rapid business development. In order to further improve the corporate governance structure, raise the level of management, and continue to create value for shareholders and society, China Taiping simultaneously completed the group restructuring and overall listing in 2013. On June 27, 2013, the restructuring was officially approved by the China Insurance Regulatory Commission, marking that China Taiping has taken a key step in speeding up the construction of a first-class financial insurance group. 2014 marks the end of China's Taiping “Three Years to Rebuild a New Taiping”. All Taiping people overcame difficulties, outperformed the market, and successfully completed the strategic goal of “three years of rebuilding”. By the end of 2014, the Group's total premium revenue was 88.6 billion yuan, up 29% year on year; total assets were 353.1 billion yuan, up 39% year on year; net profit increased sharply year on year. Not only did it complete the three main indicators of total premiums, total assets, and net profit in a comprehensive and high-quality manner, which doubled compared to 2011, but also achieved improvements in intangible capabilities such as management, innovation, service, collaboration, market control, and industry influence. The quality of development was significantly enhanced, and brand value was greatly increased. Following the successful completion of the “three-year re-engineering”, China Taiping focused on implementing a “boutique strategy”, opening a new chapter in building “the most characteristic and promising boutique insurance company.” China Taiping Insurance Holdings Limited (HK00966) was listed on the Hong Kong Stock Exchange in 2000. It is the first Chinese insurance company in the Chinese insurance industry to be listed overseas. It has been selected as one of the Fortune China 500 for six consecutive years, providing a solid capital operation platform for the operation and strategic development of China Taiping Group. The life insurance business is a strategic support for China Taiping's continuous development and is a major contributor to the Group's business and profits. Its subsidiary Taiping Life Insurance Co., Ltd. adheres to specialized and systematic operation, has steady business development, a good business structure, and has a good reputation, management level, business environment and development prospects, and has received an “A-” rating from Fitch International. The property insurance business covers mainland China, Hong Kong and Macau, and has subsidiaries in Europe, Oceania, East Asia and Southeast Asia. Among them, domestic industrial insurance is an important driver for the development of the Group's industrial insurance business and an important source of premium growth, and overseas industrial insurance provides a stable source of profit for the Group's value growth through international operation and specialized management. The pension insurance business provides corporate group customers with comprehensive insurance financial services including professional corporate annuity and employee benefit protection plans. The pension insurance business is centered on enterprise annuities, and covers various types of pension products, management and services such as enterprise annuity trusteeship and investment, pension insurance entrustment management, and occupational annuities. The company's employee benefit protection business covers products, management and services such as life insurance, accident insurance, supplementary medical care and health management for various enterprises and groups. The reinsurance business is a new growth point and stable source of profit for China Taiping's continued healthy development. Taiping Reinsurance Co., Ltd., a subsidiary of the Group, has been in business for more than 30 years and is one of the best reinsurance companies in Asia. As an important pillar of China Taiping's profitability and achieving sustainable and healthy development, the asset management business is an important pillar of China Taiping Insurance Group's comprehensive management, continuous value growth, and continuous improvement in sustainable profitability. A unified asset management platform jointly built by Taiping Asset Management Co., Ltd. and Taiping Financial Holdings Co., Ltd. provides specialized management and reliable guarantees for the use of insurance funds, financial asset operation, and third-party asset management. China Taiping's comprehensive customer-centered financial services platform framework has been initially formed. The establishment of the Group Shared Service Center integrates various resources such as billing, dual-core operations, IT, customer data management and services, call centers, and financial operations within the group to achieve centralized customer data management, centralized insurance operation services, and centralized financial information data processing, providing comprehensive and diversified financial and insurance product services for enterprise customers and individual customers. Quality and efficiency first, risk management first. China Taiping implements unified vertical audits and comprehensive risk management for the entire group, and internal control management and comprehensive risk management are in a leading position in the industry. With professional management and sound financial management, 9 institutions under the Group have received consecutive “A” ratings from international rating agencies, making it the insurance group that has received the most international A ratings in the Chinese insurance industry. The Group's overall credit rating and the international ratings of Taiping Hong Kong, Taiping Macau have all been upgraded to A, and Fitch has rated Taiping Life “A-” for five consecutive years. “Resource group sharing, cross-border talent flow, unified customer development, and global service access” is a distinctive feature of the Group's comprehensive cross-border management. “One customer, one peace” is the goal of the group's comprehensive service. With the mission of “creating a prosperous and peaceful life”, China Taiping will adhere to the concept of “careful management and honest service” and strive to build a leading domestic and world-class comprehensive financial insurance group.