Shenzhen Ping An Insurance Company, the
predecessor of Ping An Insurance (Group) Company of China, Ltd., was
established on March 21, 1988 and began operations on May 27,1988. Shenzhen
Ping An Insurance Company registered with the State Administration for
Industry and Commerce. On June 4, 1992, with the approval of the State
Council, we changed our name to China Ping An Insurance Company. On January
16, 1997, with the approval of the State Administration for Industry and
Commerce, we changed our name to China Ping An Insurance Co., Ltd. In
February 2003, we completed a reorganization of our company and with the
approval of the State Council, changed our name to Ping An Insurance (Group)
Company of China, Ltd. ("Ping An"). As Part of our reorganization, Ping An
became a holding company and established as operating subsidiaries China
Ping An Life Insurance Co., Ltd., China Ping An Property Insurance Co.,
Ltd., China Ping An Insurance Overseas (Holdings) Co. and Ping An Trust and
Investment Company. Ping An Trust and Investment Company holds a 30% equity
interest in Ping An Securities Company. Our reorganization has created an
efficient holding company structure that integrates our primary business of
insurance with trust and securities services and our overseas operations.
China Ping An Insurance (HK) Company Ltd. is a subsidiary of Ping An Insurance (Group) Company of China, Ltd. In 1992, Ping An Insurance of China came into an agreement with Union Bank of Hong Kong, has been renamed ¡uIndustrial and Commercial Bank of China (Asia) Limited¡v and acquired 75% shareholding of UB General Insurance Company. With effect from November 17, 1992, UB General Insurance Company changed its name to China Ping An Insurance (HK) Company Ltd.
China Ping An Insurance (Hong Kong) Company Ltd. is authorised by the Insurance Authority of Hong Kong to transact general insurance in or from Hong Kong. By end of 2003, the Company's total assets are HKD174.91 millions with insurance business income of HKD104.30 millions.
China Ping An Insurance (HK) Co., Ltd. has established more than 10 years now. Its core business is to provide wide range general insurance products and services such as Fire Insurance, Marine Cargo Insurance, Misc. Accident Insurance and Employees' Compensation Insurance etc. Throughout these years, the Company has achieved a steady growth in business. And in particular, the Company's financial position is comparatively strong and healthy. In May 1997, the Insurance Authority after reviewed this Company' s financial strength, marketing strategies and the market needs, authorising this Company to transact Motor Business to enable this Company to provide our customers a full range insurance services
In the future, the Company would endeavor its principles - "Trust and Customers' Interest First, Highest Efficiency and Best Services" to provide the best efficient and speedy, fair and accurate insurance and consultancy services for our customers.