Ping An Insurance (Group) Company of China, Ltd Company

    Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is the first Chinese insurance company that integrates securities, trusts, banking, asset management and annuity services into a close-knit, efficient and diversified financial holding group. The Company was founded in 1988 and is headquartered in Shenzhen. Ping An is listed on the Hong Kong Stock Exchange with the stock name of "Ping An of China" and the stock number of "2318".

    The group company is the holding company of the following subsidiary companies: Ping An Life Insurance Company of China, Ltd. ("Ping An Life"), Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An Property & Casualty"), Ping An Annuity Insurance Company of China, Ltd., Ping An Asset Management Co., Ltd., Ping An Health Insurance Company of China, Ltd., China Ping An Insurance Overseas (Holdings) Limited and China Ping An Trust & Investment Co., Ltd, which holds an equity interest in Ping An Bank Limited and Ping An Securities Company, Ltd.

    As at 31 December 2005, consolidated total assets and total equity of the Group were RMB 319,706 million and RMB 33,522 million respectively. The market value of the Group exceeded HKD100 billion on 9th January 2006, and the Group achieved the status of a large, international insurance enterprise.

    Ping An and its subsidiaries provide various financial services including insurance and investment management to over 36 million individual customers and approximately 2 million corporate customers. The Company has over 200,000 sales agents, 40,000 staff and over 3,000 branch offices. For the year ended 31 December 2005, Ping An's total revenue and net profit were RMB 64,590 million and RMB 4,265 million respectively. In terms of gross written premiums and policy fees, Ping An Life is the second largest life insurance company while Ping An Property & Casualty is the third largest property and casualty insurance company in China.

    The Company's mission is to fulfill its commitment to its investors, customers, employees and society. Ping An's goal and commitment to investors is to produce stable return and boost asset values. The Company's commitment to customers is to provide the best services with integrity. Ping An's commitment to employees centers on being a responsible employer and providing for the lives and careers of its employees. Last but not least, Ping An's commitment to Society is based on the Company's desire to give back to society and contribute to the development of the country. Ping An is focused on value creation and the pursuit of excellence. The Company advocates that each employee be a person of integrity and value by highlighting individual virtues such as "honesty, trustworthiness, entrepreneurship, and achievement," and team qualities such as "unity, vitality, learning and innovation". The "competition, motivation, elimination" process was also implemented, together with a distinctive, professional, advanced and long-term operating procedures.

    Ping An is China's first nation-wide insurance company to receive strategic investment from overseas companies. It has a well-established system of corporate governance, with half of the senior management members being expatriate professionals. Ping An has an integrated service platform where information on corporate strategy, culture, branding, communications, information technology, human resources, asset management, project management and risk control is centralized. With this system, the Company is able to design and provide more customized products and services to customers. The Company's objective has always been to, "Provide the best service to customers anytime, anywhere and in any way." It has established a customer hotline, an online service platform, a service centre and a team of professional representatives. This allows Ping An to provide distinctive services such as allowing customers to file an insurance claim anywhere in China, offering medical services via designated hospitals, and providing a number of other services in customer support branches. The Company was also the first insurance company to offer overseas emergency support, insurance loans, pre-payment for life insurance claims and customer festivals.

    Ping An strives to maintain a high ethical standard by participating in various social activities, including educating the next generation, Red Cross' charity program and natural disasters assistance. As of March 2006, the Company has built 39 Hope Primary Schools in 22 provinces and cities in China. Ping An has also given study grants worth more than RMB1 million to outstanding university students in need and has been involved in organizing the "China Children Protection and Education Program" together with the China Communist Youth League, the Ministry of Education, the Ministry of Public Security and the National Working Committee of Chinese Young Pioneers. The Company has also donated blood donation vehicles worth more than RMB 10 million. In March 2004, Ping An began to provide accident and critical illness insurance coverage for those who donated hemopoietic stem cells (HSC) as of 2003 and until 2010. The premiums of the granted policies totaled over RMB 300 million.

    Ping An's contribution to the society has not gone unnoticed, with the following accolades:
In March 2006, Ping An was awarded "Best CRM Practice Awards - Greater China" by Greater China CRM.·In December 2005, Ping An has been ranked first among Asia insurance companies in the annual ranking for "Asia's Best Managed Companies 2005" by London-based Euromoney Magazine. Euromoney also named Ping An number three overall in its ranking of Chinas top performers in corporate management.·In August 2005, the Company was voted the number one Chinese financial institution among the "Top Ten Chinese Global Brands" in a survey sponsored by Financial Times.

    It is the only insurance company to be selected five times (2001-2005) as one of "The Most Respected Enterprises in China" in a survey co-sponsored by Peking University and the Economy Observer newspaper.

    In March 2005, the Company was selected for the "Most Credible Company Award" by the China Foundation of Consumer Protection.

    Ping An was named the "Favorite Brand in China's Insurance Sector" in a national consumer poll organized by the Market Information Centre of the People's Daily.

    In December 2004, the Company was selected as one of the winners of the "Best Corporate Citizenship in China", an award jointly organized by the 21st Century Press Series and China Europe International Business School.

    In November 2004, Ping An was awarded the "Best Investor Relations for an IPO in Asia" by Investor Relations Magazine.

    On 16 October 2004, Ping An, together with nine other well-known enterprises, were awarded "Top Ten Most Contributing and Outstanding Enterprises 1994-2004" by China Enterprise Culture Improvement Association.

    Ping An is committed to build a globally competitive, fully-integrated professional services operation with its good corporate governance structure, international management team, cohesive corporate culture, strict risk control system, quality products, services and marketing. Ping An's goal is to become a first-class financial services group by building on the Company's strong brand that is trusted and respected as a household name.

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