Overview
The property and casualty insurance business is operated by The Tai Ping Insurance Company, Limited ("TPI"), which is 40.025%-owned by CIIH and is incorporated in the PRC.  TPI has a national licence to operate domestic property and casualty insurance.  TPI's paid up capital is RMB1.3 billion.

TPI is mainly engaged in the underwriting of motor, marine and non-marine policies in Mainland China.  TPI has 22 main branches and more than 280 sub-branches and marketing centers in major cities in the PRC.  The market share of TPI in the PRC property and casualty insurance market, measured by gross premiums written under PRC GAAP was 1.64% for the year ended 31 December 2007.

Company Ownership Structure

History

1929	TPI was established in Shanghai
1956	TPI ceased its operations in Mainland China and focused on its overseas operations
2001	China Insurance Regulatory Commission ("CIRC") formally granted approval to TPI to resume its insurance operations in Mainland China. TPI's equity ownership was restructured such that: CIHC held 45.05%; CIIH held 30.05%; and ICBC (Asia) held 24.9%
2004	TPI's equity ownership changed such that: CIHC held 47.525%; CIIH held 40.025%; and ICBC (Asia) held 12.45%
2005	TPI's number of branches reached 19; TPI's number of sub-branches and other sales service points reached 146
2006	TPI achieved operating profitability in 2006 under Hong Kong Accounting Standards
2007	TPI's equity ownership changed such that: CIHC held 50.398%; CIIH held 40.025%; and ICBC (Asia) held 9.577%