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| Additional information |
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| Ping An Insurance (Group) Company of China, Ltd. |
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Overview:
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") was founded in 1988 and has its headquarters in Shenzhen. The group company controls the following subsidiary companies: Ping An Life Insurance Company of China, Ltd., Ping An Property & Casualty Insurance Company of China, Ltd., China Ping An Insurance Overseas (Holdings) Limited., Ping An Trust & Investment Co., Ltd, which holds an equity interest in Ping An Bank Limited and Ping An Securities Company, Ltd.
On June 24. 2004, Ping An was successfully listed on the Hong Kong Stock Exchange with the stock name of "Ping An of China" and the stock number of "2318".
Ping An is China's first joint-equity insurance company and the first nation-wide insurance company to receive strategic investment from overseas companies. Over the past 16 years, Ping An has grown to become one of China's most prestigious and successful modern enterprises, serving a large and growing client base in a variety of areas.
Ping An has a well-established system of corporate governance. Members of senior management, one-third of whom are expatriate professionals, lead the company with their international expertise and local knowledge. In 1994, Ping An was the first major PRC insurance company to engage an international accounting firm as independent external auditors and since 1995, the Company has also engaged an international actuarial consulting firm to conduct independent reviews of policyholders' reserves according to international standards. Following HSBC Insurance's investment in Ping An in 2002, the Company has further improved internal controls, agent monitoring and supervision and risk management.
Ping An has a significant number of strengths in a range of areas, from strategic studies to system renovation, product development, investment operations, risk management, IT infrastructure, human resources and brand management. The Company is able to provide integrated and specialized financial services to corporate and retail customers.
Ping An was ranked 23rd in Asiaweek magazine's "top 100 life insurance companies in Asia-Pacific" in 2001. The Company is also the only insurance company to be selected three times (in 2001, 2002 and 2003) as one of "The Most Respected Enterprises in China" in a survey co-sponsored by Peking University and the Economy Observer newspaper. Ping An was also selected as "The Most Competitive Brand Name in the PRC Life insurance sector" in 2003 by Sinomonitor and the British Market Research Bureau.
Ping An is committed to effectively reorganizing its resources to build a globally competitive, fully-integrated professional services operation. By building on the Company's strong brand that is trusted and respected as a household name, Ping An's goal is to be a first-class financial services group. |
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