China 2015: BRAND PROFILE | 88. China Taiping
The company gained additional profit when it acquired all of the insurance- related businesses from its corporate parent, the SOE (State Owned Enterprise) China Taiping Insurance Group Ltd. The company also made key strategic investments
in its life insurance agents, improving professionalism and productivity. In addition, China Taiping:
- Entered cooperative agreements with 10 major companies, including China Mobile and China Merchants Bank.
- Experienced strong growth and efficiency gains from its overseas operations in Macau and Singapore.
In 2000, China Taiping became the first insurance company of the People’s Republic of China to be publicly listed, on the Hong Kong Stock Exchange.
A predecessor company was founded in Shanghai in 1929, making 2014 the company’s 85th anniversary.
Net income increased 180 percent to $249 million in the first half of 2014, on a 3 percent revenue decrease to $6.7 billion. For the full year 2013, net income improved 16 percent to $197 million on revenue of $12.1 billion, a 45 percent gain.