Overview
Taiping General Insurance Company Limited ("TPI") (formerly known as The Taiping Insurance Company Limited ("TPI")), which is 50.05%-owned by CTIH (formerly known as CIIH) and was incorporated in the PRC.  TPI has a national licence to operate domestic property and casualty insurance.  TPI's paid up capital is RMB1.57 billion.

TPI is mainly engaged in the underwriting of motor, marine and non-marine policies in Mainland China.  TPI has 27 main branches and more than 378 sub-branches and marketing centers in major cities in the PRC.  The market share of TPI in the PRC property and casualty insurance market, measured by gross premiums written under PRC GAAP was 1.5% for the year ended 31 December 2009.

Company Ownership Structure

History

1929	TPI was established in Shanghai
1956	TPI ceased its operations in Mainland China and focused on its overseas operations
2001	China Insurance Regulatory Commission ("CIRC") formally granted approval to TPI to resume its insurance operations in Mainland China. TPI's equity ownership was restructured such that: CIHC held 45.05%; CIIH held 30.05%; and ICBC (Asia) held 24.9%
2004	TPI's equity ownership changed such that: CIHC held 47.525%; CIIH held 40.025%; and ICBC (Asia) held 12.45%
2005	TPI's number of branches reached 19; TPI's number of sub-branches and other sales service points reached 146
2006	TPI achieved operating profitability in 2006 under Hong Kong Accounting Standards
2007	TPI's equity ownership changed such that: CIHC held 50.398%; CIIH held 40.025%; and ICBC (Asia) held 9.577%
2008	TPI's equity ownership changed such that: CIHC held 42.02%; CIIH held 50.05%; and ICBC (Asia) held 7.93%;
	TPI issued RMB700 million in subordinated debt
2009	TPI changed its name to Taiping General Insurance Company Limited ("TPI");
	TPI's equity ownership changed such that: TPG held 37.5%; CTIH held 50.05%; and ICBC (Asia) held 12.45%