China Taiping Insurance Group Ltd, abbreviated as China Taiping, is an insurance conglomerate incorporated and headquartered in Hong Kong.
China Taiping is the oldest establishment in China's insurance history. It was established in 1929 in Shanghai and became a prominent company in the Chinese insurance sector in the 1940s. In 1956 China Taiping joined China Insurance and other early Chinese insurance companies as a part of the nationalisation process to become a subsidiary of the People's Insurance Company of China (PICC), specialising in overseas business.
In 1999, PICC was disbanded and its overseas operating assets were transferred to China Insurance Company. Subsequently China Insurance Company Limited and China Insurance Company Limited Hong Kong adopted 'two names but were under a one management' organisational structure.
In 2001 China Taiping resumed business in mainland China.
In August 2002, China Insurance Company Limited became China Insurance (Holdings) Company Limited.
In May 2009, the original name was adopted to become China Taiping Insurance Group.
In 2013, China Taiping Insurance completed its restructuring process and was successfully listed on the Hong Kong Stock Exchange.
The company’s strategic plan, “Greater Taiping in 3 Years”, ended with a huge success in 2014, when total premiums, total assets and net profits increased by 100% as compared to the preceding 3 years. The company’s success in the execution of the plan could be attributed to the initiatives taken to improve management skills, service levels, innovation, and collaboration between business units. Consequently, China Taiping Insurance was able to greatly enhance its industry reputation and further establish itself as a market leader.
2015 was a landmark year for China Taiping Insurance. Following the successful completion of its strategic plan in 2014, the company leveraged on its unique business angle to tap into various niche market segments with huge success. As a result, total premiums, total assets and total assets under management rose to above 100, 400 and 600 billion Yuan respectively. Moreover, the company smashed its own record by earning the highest annual net profit since inception.
Founded in 1929, through the development of 89 years, China Taiping Insurance has become a global financial and insurance services enterprise that employs over 600 thousand employees across 24 subsidiaries and nearly 2000 business units. With total assets worth 600 billion RMB and operations in Mainland China, Hong Kong, Macao, North America, Europe, Oceania, East and Southeast Asia, China Taiping Insurance provides a broad range of life insurance, general insurance, pension insurance, reinsurance, reinsurance brokers and insurance agency, internet insurance, assets management, securities brokerage, financial lease, real estate investment, pension industry investment and other businesses.
As a financial and insurance services company with unique capabilities in several markets, China Taiping Insurance strives to become the market leader both in Mainland China and the world by perfecting its "One customer, One Taiping" business model, exerting and extending its market influence and fostering a culture that promotes “Ambition, Courage, Passion and Innovation”.