China Taiping Insurance (HK) Company Limited (“CTPI(HK)”, previously known as The Ming An Insurance Co. (H.K.) Ltd.) was incorporated in Hong Kong in 1949. It is a member of the China Taiping Insurance Group (HK) Company Limited ("TPG"). The sound financial standing, prudent underwriting philosophy and well-established creditability of CTPI(HK) have firmly established itself as a major insurance company in Hong Kong. In 2019, the gross written premiums of CTPI(HK) was HK $3.37 billion, making CTPI(HK) the 3rd largest Hong Kong general insurer in terms of premium income.
The Ming An (Holdings) Company Limited (“Ming An Holdings”) is the holding company of CTPI(HK) and listed on the main board of The Stock Exchange of Hong Kong Limited (the “Exchange”) on 22 December 2006. To cope with the business development and obtain the realization of synergies of the Group’s business, TPG decided to privatize Ming An Holdings by way of a scheme of arrangement through its another listed company, China Taiping Insurance Holdings Company Limited (“CTIH”). The scheme was sanctioned by the Grand Court of Cayman Islands on 30 October 2009. Ming An Holdings became a wholly-owned subsidiary of CTIH and withdrew the listing of the Company’s shares on the Exchange on 2 November 2009.
Over the 7 decades, CTPI(HK) has established reinsurance business relations with over 100 insurers and reinsurers across 20 countries and regions (including Munich Reinsurance Company and Swiss Reinsurance Company). Besides, CTPI(HK) has business relationships with over 480 insurance brokers and insurance consultant companies in Hong Kong. The extensive marketing network, deep penetration across market segments will greatly contribute to the business development. In order to consolidate the existing achievements and strengthen the competitive advantage, CTPI(HK) strives to broaden the sales channels and strengthen cooperation with banks and life insurance companies by cross-selling the insurance products.