Huatai Insurance

Huatai Insurance Company of China, Limited, incorporated in Beijing on August 29, 1996 with a registered capital of RMB 1.333 billion, is the first nationwide joint-stock property insurance company in China. The Company's 53 shareholders engage in 24 industries including petroleum, power, metallurgy, chemicals, aviation, shipping etc., most of which are powerful and profitable enterprises or enterprise groups, with total assets exceeding RMB 2 trillion. Currently, the Company has formed a nationwide network by establishing branches in 35 cities. In May 2002, ACE Group, a world-known insurance group, became Huatai’s biggest shareholder. As a strategic partner, it provided Huatai with advanced management concepts and global business support network. In 2006, the Company’s insurance business maintained continuous and steady growth, while its investment business registered a record-breaking year in the history, which enabled Huatai to become the only insurance company in China to realize profit and dividend distribution for ten consecutive years. In January and April 2005, Huatai Asset Management Company and Huatai Life Insurance Company opened business successively ,indicating that the Company has made a great approach to the development of a group-company structure.