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Brief Introduction of China Taiping Insurance (HK) Company Limited

China Taiping Insurance (HK) Company Limited (“CTPI(HK)”), formerly known as The Ming An Insurance Co. (H.K.) Ltd., was incorporated in Hong Kong in September 1949. We are the main overseas property insurance company of China Taiping Insurance Group (HK) Company Limited (hereinafter referred to as “TPG(HK)”). With our long history and strong capital base, we are firmly committed to providing comprehensive general insurance services to our customers. Based in Hong Kong for more than seventy years, we have always adhered to the company spirit which emphasizes responsibility, pragmatism, cooperation and dedication. With our financial strength, prudent management and good reputation, we have achieved the credit rating of “A” from both Standard and Poor's and A.M. Best for many years consecutively. We have received the “High Speed Customer Service (Insurance) Award”, the“Import and Export Enterprise Partner Award”, the“Mediate First”Pledge Star Logo awarded by the Department of Justice of the Hong Kong Special Administrative Region, the“Top 3 Finalist of Outstanding Initiative on Community Health Crisis Award” in the Hong Kong Insurance Awards 2020 and the“Outstanding Development Contribution to Insurance Industry in GBA Awards (General Insurance)”at Greater Bay Area Insurance Awards for two consecutive years from 2021. In 2022, we have received the“Excellent Brand of Cross-boundary Car Insurance Services”and“Excellent Insurance services in GBA Awards”. We are one of the most influential companies in the Hong Kong insurance market.

We have secured a leading position in marine hull insurance business in the Hong Kong market. We are the first insurance company to provide marine hull insurance in Hong Kong. We have strong underwriting capacity for property and liability insurance business. We are a leading insurance company in employees' compensation insurance and property insurance business. With a unique health care service platform for Chinese customers in Hong Kong, we are able to provide a one-stop service regarding health care services and medical insurance protection for our customers. We have a wide range of motor insurance products which cover many different types of motor vehicles. We are a major insurance company which provides comprehensive insurance protection for owners of cross-border motor vehicles in the Hong Kong market.

With our wealth of experience in the insurance industry, we have been invited to participate in many insurance projects in the public sector and the private sector. To meet new market demand and respond to rapid development in the insurance market, we have put special emphasis on the innovation and improvement of our insurance services. In November 1996, we obtained the approval from the Health Department of the Guangdong Province, and in June 1997 from the Health Department of the Fujian Province, to launch the first “Accidental Emergency Medical Card” in Hong Kong. The insured can obtain emergency medical assistance without the pre-payment of a cash deposit. In early 1998, the coverage of the card was extended to the entire country. We will continue to focus on developing personal line products as well as providing tailor-made insurance products to satisfy the needs of our customers. At the end of 2007, we launched the “Travel Insurance Card”. Its convenience and flexibility attracted great attention and interests from customers. In 2008, we were the first general insurance company in Hong Kong to introduce the “Cross-Border Motor Vehicle Owner's Liability Insurance”. This provided even more comprehensive insurance protection for cross-border motor vehicle owners. In 2010, we introduced the “Top Care Individual Insurance Scheme”, “Domestic Care Insurance Scheme” and “Building Owners' Corporation Third Party Liability Insurance”.  In 2012, we introduced the “Cross Border Motor Vehicle Owner's Liability Insurance Policy – Self-drive” and “ATA CARNET of Private Cars Self-drive Scheme”. In 2014, we introduced the “Taiping Comprehensive Travel Scheme” and “Accidental Emergency Medical Insurance - Diamond Plan”. In 2015, we introduced the “Middle East Respiratory Syndrome Hospital Cash Insurance Scheme”, “Group Critical Illnesses Insurance Scheme” and “CTS Cruise Travel Scheme”. In 2016, we introduced “Far East Fixed Premium P&I (Protection & Indemnity) Insurance”. In 2017, we introduced the “Taiping Smartcare Critical Illness Insurance Scheme”, and the “Taiping Ji Xiang Bao” which was an exclusive product designed for the Belt and Road Initiative. In 2018, we introduced a new high-end personal medical product, the “Taiping Global Prime Medical Insurance Scheme”. The market response was overwhelming.

In recent years, we have taken advantage of our good business relationships with Chinese captive insurance companies to promote the development of their overseas engineering insurance projects, and to serve our country's “Go Global” strategy. We have established long-term, close and good business relationships with major local insurance broking companies, insurance agents, banks and life insurance companies. We have also established reinsurance relationships with direct insurance companies and reinsurance companies in many countries and regions. With our far-reaching influence worldwide, we are able to underwrite insurance policies, arrange reinsurance and settle claims effectively.

In order to improve the professional level of our services, we have established “B2B” and “B2C” e-commerce platforms, and “Taiping e-palm” online claims services. In November 2012, we officially opened a 24/7 customer service hotline on “3716 1616” to provide our customers and business partners with even faster and better services.

Entering the new era as an important subsidiary of the group, we are committed to fully utilize the Group's competitive advantage. Under the guidance of the Group's development strategy in the new era, we are striving to build a modern international financial insurance company which is competitive globally. We are actively participating in the development of the Greater Bay Area, and also the promotion and implementation of the Belt and Road Initiative in order to promote the long-term prosperity and stability of Hong Kong. Together with the state, our customers, our business partners, our shareholders, our employees and all sectors of our society, we will achieve the beautiful vision of “Sharing Taiping”.

The Ming An (Holdings) Company Limited (“MAH”) is the holding company of CTPI(HK). MAH was listed on the main board of the Stock Exchange of Hong Kong (“SEHK”) on 22 December 2006. In order to meet the overall business development requirements, it was necessary to consolidate resources and achieve synergy. China Taiping decided to privatize MAH by way of a scheme of arrangement through China Taiping Insurance Holdings Company Limited (“CTIH”), another listed company under the Group. The scheme was sanctioned by the Grand Court of Cayman Islands on 30 October 2009. MAH became a wholly-owned subsidiary of CTIH and withdrew the listing of its shares on the SEHK on 2 November 2009.

CTPI(HK) established its Shenzhen Branch and Haikou Branch in 1982 and 1988 respectively. In May 2004, we obtained approval from the China Insurance Regulatory Commission (“CIRC”) to restructure our Shenzhen Branch into a wholly-owned subsidiary, The Ming An Insurance Company (China) Limited (“Ming An China”). In May 2006, Ming An China became the first and only general insurance company with foreign capital incorporated on the mainland of China to receive approval from the China Insurance Regulatory Commission (“CIRC”) to operate as a domestic insurance company. In order to satisfy the overall strategy of the Group's insurance business on the mainland of China, CTPI(HK) disposed its entire equity interest in Ming An China in the year 2010.

China Taiping was founded in Shanghai in the year 1929. It is the longest operating national insurance brand in China's history. It is also the only stated-owned financial enterprise with management headquarters outside the mainland of China. Listed on the SEHK in the year 2000, China Taiping is China's first insurance company listed overseas. In 2009, our three major brands, namely “China Insurance”, “Taiping Insurance” and “Ming An Insurance”, were unified and renamed the China Taiping Insurance Group. At the end of the year 2011, we became a financial enterprise under the supervision and administration of the Ministry of Finance. In 2013, China Taiping completed its corporate restructuring and public listing, and officially changed its name to China Taiping Insurance Group Ltd.

China Taiping Insurance (HK) Company Limited