Overview
The life insurance business is operated by Taiping Life Insurance Company Limited ("TPL"), which is 50.05%-owned by CTIH (formerly known as CIIH) and was incorporated in the PRC.  TPL is CTIH's life insurance flagship in the PRC and has a national licence to operate domestic life insurance.  TPL's paid up capital is RMB3.73 billion.

TPL is mainly engaged in the underwriting of direct life insurance policies in Mainland China.  TPL's products are distributed through Banks, Individual Agents, Brokers and its Direct Marketing Team.  TPL has 33 main branches and more than 611 sub-branches and marketing centers in major cities in the PRC.  The market share of TPL in the PRC life insurance market, measured by gross premiums written under PRC GAAP, was 2.8% for the year ended 31 December 2009.  The number of individual agents of TPL was 60,781 as at 31 December 2009.  TPL currently has around 32 actuarial staff, of whom most are qualified actuaries.  In addition, TPL is rated BBB+ by Fitch.

History

1929	TPL was established in Shanghai
1956	TPL ceased its operations in Mainland China and focused on its overseas operations
2001	China Insurance Regulatory Commission ("CIRC") formally granted approval to TPL to resume its insurance operations in Mainland China.  TPL's equity ownership was restructured such that: CIHC held 25.05%; CIIH held 50.05%; and Fortis International held 24.9%
2003	TPL was rated BBB+ by Fitch, becoming the first Mainland China-based insurer to be formally rated by a top international rating agency
2005	Taiping Pension Company Limited, which is 60% owned by TPL, was formally established;
	TPL issued RMB1,500 million in subordinated debt
2006	TPL achieved operating profitability in 2006 under Hong Kong Accounting Standard; Taiping Asset Management Company Limited, which is 50.1% owned by TPL, was formed and commenced operations in September
2008	TPL issued RMB1.35 billion in subordinated debt