Ping An Insurance (Group)

Ping An Insurance (Group) Company of China, Ltd ("Ping An"or"the Group") is the first integrated financial services conglomerate in China that blends its core insurance operations into securities brokerage, commercial banking, asset management and enterprise annuities to create a highly efficient and diversified business profile. It was established in 1988 and headquartered in Shenzhen, Guangdong Province, China. It has been listing its H-Shares on the Hong Kong Stock Exchange under the name "Ping An" and stock code "2318" since June 2004. On March 1, 2007, Ping An debuted trading of its A-Shares on the Shanghai Stock Exchange under the name "Ping An of China" and stock code "601318".

The Group 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; China Ping An Trust & Investment Co., Ltd., and Shenzhen Ping An Bank. China Ping An Trust & Investment Co., Ltd. holds Ping An Securities Company; and Ping An Overseas holds China Ping An Insurance (HK) Co., Ltd., and Ping An of China Asset Management (Hong Kong) Co., Ltd.

As of 30 June 2007, under International Financial Reporting Standards (IFRS), consolidated total assets and total equity of the Group were RMB 617,772 million and RMB 97,573 million respectively. Under PRC Accounting Standards, the Group’s total assets reached RMB 583,143 million and total shareholders’ equity grew to RMB 94,911 million. The market value of the Group exceeded RMB 600 billion on 9 August,2007.

In April 2007, Ping An was enlisted by the “Forbes Global 2000” for its outstanding operating performance and strong earnings growth, ranked the 440th overall, up a significant 97 places from 2006. Ping An ranked the 36th out of the 114 companies listed in the insurance category; the 11th out of the 44 listed in the China-listed company category; and the No.1 out of all of the companies in the non-state-owned enterprise (non-SOE) category.

The Group provides financial services including insurance coverage, investment and wealth management for about 39.75 million individual clients and nearly 1.95 million corporate clients. It hires almost 244,000 sales agents and more than 50,000 full-time employees serving more than 3,000 branch- and sub-branch-units and sales offices. For the first half of 2007, it achieved revenues of RMB 69,021 million and a net profit of RMB 9,969 million according to International Financial Reporting Standards. By premium income, Ping An Life is the second largest life insurance company in China. Ping An Property & Casualty is the third largest P&C insurance company in China.

The Company's mission is to fulfill its commitments to its investors, customers, employees and society. Ping An's goal and commitment to investors is to produce stable returns 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 the conditions for better living and career development. 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" mechanism was also implemented, together with a distinctive, professional, advanced and long-term business philosophy.

Ping An is China's first nation-wide insurance company to welcome strategic overseas investors. It has a well-established system of corporate governance and half of its senior management members are 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 better customized products and services to its 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 sales agents. This allows Ping An to provide distinctive services such as allowing customers to file an insurance claim anywhere in China, offering medical services at designated hospitals, and providing a number of other services at 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 service day".

As a pioneer in China’s emerging financial services industry, Ping An also takes it a mission to serve as a leader in corporate social responsibility. It has one of the largest and longest-established corporate philanthropy programs in China, ranging from education, social health and medical, and disaster rescue. As of April 2007, the Company had built 47 Hope Primary Schools in China. Ping An has also given study grants worth more than RMB 1 million to outstanding university students in need in a “Ping An Elite University Student Grant” program and has been involved in organizing the "China Children Protection and Education Program". The Company has also donated blood donation vehicles worth more than RMB 10 million to the Red Cross Society of China and mobilizes almost 10,000 people to participate in blood donation events. Ping An provides accident and critical illness insurance coverage for those who donated hemopoietic stem cells (HSC) starting in 2003 and until 2010. The premiums of the granted policies exceed RMB 300 million.