New Year Message from China Taiping Group Chairman Wang Bin



With the New Year's bell ringing, we say farewell to an unforgettable 2015, and welcome 2016 with new hopes. At this time of the year, I, on behalf of all China Taiping executives, would like to give our sincere thanks to governments, business partners, communities and our old and new clients for your long term support and care of the development of China Taiping and we also wish all China Taiping staff and families and retired veterans a happy new year.

2015 is an extraordinary year in China Taiping's history. This year, we have initiated our strategy of "the most distinctive and boutique insurance company with the highest potential" after we succeeded "three years rebuild a new Taiping" objectives set in 2011. We have been firmly promoting the strategy by strengthening distinctive business model, establishing innovation initiative, deepening organisation restructure, improving operations management efficiency, giving prominence to prevent and controlling risks. We have outperformed and advanced our rankings in markets in four consecutive years and achieved a great start.

This year, our businesses continue to expand. Total premium breaks 100 billion RMB (10.41 billion GBP) barrier, total assets exceeded 400 billion RMB (41.5 billion GBP) and assets under management exceeded 600 billion RMB (62.2 billion GBP). Underwriting profits, new business values and other key performance indices are gradually increasing. Life insurance, General insurance and Pension Insurance businesses become more balanced and have achieved the consistency between speed and quality and the coordination between quantity and profit.

This year, the group's distinctive operations continue to reach new heights. "Key Accounts" strategy promotes in furtherance of 9 new large clients partnership signing in 2015, of which stands totally at 56 corporate accounts. International operations become more distinctive. North America projects are gradually being implemented. Taiping Reinsurance and Taiping Reinsurance Brokers companies acquired Lloyd's member company and received a Lloyd's broker status retrospectively. China Taiping Life (Hong Kong) is established in December 2015. Online business expands fast, website sales, third party platform and worksite marketing and other areas have established and premium received through online platform has doubled. China Taiping Reinsurance (China) Co Ltd has been approved by the Chinese regulators, Taiping Fund is ready to launch and the composition of the group's integrated finance model becomes more mature.

Look into 2016, we believe this will be other successful year for us that will enable us to get a step closer to become "the most distinctive and boutique insurance company with the highest potential". China Taiping will grow with the support from governments, businesses partners, communities and our old and new clients and all China Taiping staff.

I wish you and your families a happy, peaceful and auspicious new year.

Yours sincerely,

Wang Bin

Chairman of China Taiping Insurance Group