CHINA TAIPING INSURANCE HOLDINGS COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 966)
ANNOUNCEMENT SOLVENCY REPORT OF PRC SUBSIDIARIESThis announcement is made by China Taiping Insurance Holdings Company Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rules 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO").
Certain subsidiaries of the Company incorporated in The People's Republic of China (the "PRC") and engaged in insurance business, including Taiping Life Insurance Company Limited, Taiping General Insurance Company Limited, Taiping Pension Company Limited and Taiping Reinsurance (China) Company Limited (the "Certain Subsidiaries"), are regulated by the China Insurance Regulatory Commission (the "CIRC"). In accordance with relevant provisions of the China Risk Oriented Solvency System ("C-ROSS") issued by the CIRC, insurance companies have to disclose their solvency report summary quarterly.
Solvency report summary for the 1st quarter ended 31 March 2016 will be released on the website of Insurance Association of China and the respective websites of the Certain Subsidiaries at www.iachina.cn, http://life.cntaiping.com, http://caixian.cntaiping.com, http://tppension.cntaiping.com and www.tpre.cntaiping.com, respectively. The figures in the solvency report summary have been prepared pursuant to the PRC "Accounting Standard for Business Enterprises" and have not been audited.
Part of the content of the solvency report summary were extracted and attached in this announcement. The Company wishes to remind its shareholders and potential investors that the figures in the attachment of this announcement are based on unaudited preliminary financial and operational data.
By Order of the Board of
China Taiping Insurance Holdings Company Limited ZHANG Ruohan NGAI Wai FungJoint Company Secretary
Hong Kong, 29 April 2016
As at the date of this announcement, the Board comprises 11 directors, of which Mr. WANG Bin, Mr. LI Jinfu and Mr. MENG Zhaoyi are executive directors, Mr. HUANG Weijian, Mr. ZHU Xiangwen, Mr. WU Changming and Mr. NI Rongming are non-executive directors and Dr. WU Jiesi, Mr. ZHU Dajian, Mr. WU Ting Yuk Anthony and Mr. XIE Zhichun are independent non-executive directors.
This announcement is posted on the website of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk and on the website of the Company at www.ctih.cntaiping.com.
Attachment
Taiping Life Insurance Company Limited太平人壽保險有限公司
Extract on "Quarterly Solvency Report Summary for Insurance Companies" For the First Quarter of 2016Key Indicators (Unit：RMB0'000)
Indicators | This Quarter (End)1 | Last Quarter (End)2 |
Income from Insurance Business | 4,217,379 | 1,669,298 |
Net Profit | 114,396 | 80,126 |
Net Assets | 2,667,092 | 2,966,118 |
Admitted Assets | 30,147,584 | 31,026,301 |
Admitted Liabilities | 22,496,582 | 23,461,552 |
Available Capital | 7,651,002 | 7,564,749 |
among them: Core Tier 1 Capital | 7,358,453 | 7,242,200 |
Core Tier 2 Capital | - | - |
Ancillary Tier 1 Capital | 292,549 | 322,549 |
Ancillary Tier 2 Capital | - | - |
Minimum Capital | 3,063,329 | 2,791,483 |
Core Capital Surplus | 4,295,124 | 4,450,717 |
Core Solvency Ratio | 240% | 259% |
Comprehensive Capital Surplus | 4,587,673 | 4,773,266 |
Comprehensive Solvency Ratio | 250% | 271% |
Note: 1. January to March 2016 (as at 31 March 2016)
2. October to December 2015 (as at 31 December 2015)
Taiping General Insurance Company Limited太平財產保險有限公司
Extract on "Quarterly Solvency Report Summary for Insurance Companies" For the First Quarter of 2016Key Indicators (Unit：RMB0'000)
Indicators | This Quarter (End)1 | Last Quarter (End)2 |
Income from Insurance Business | 419,173 | 423,112 |
Net Profit | 17,464 | 5,486 |
Net Assets | 526,319 | 533,580 |
Admitted Assets | 2,109,766 | 2,117,587 |
Admitted Liabilities | 1,479,297 | 1,480,245 |
Available Capital | 630,469 | 637,342 |
among them: Core Tier 1 Capital | 511,017 | 517,890 |
Core Tier 2 Capital | - | - |
Ancillary Tier 1 Capital | 119,452 | 119,452 |
Ancillary Tier 2 Capital | - | - |
Minimum Capital | 239,382 | 237,984 |
Core Capital Surplus | 271,688 | 279,906 |
Core Solvency Ratio | 214% | 218% |
Comprehensive Capital Surplus | 391,140 | 399,358 |
Comprehensive Solvency Ratio | 263% | 268% |
Note: 1. January to March 2016 (as at 31 March 2016)
2. October to December 2015 (as at 31 December 2015)
Taiping Pension Company Limited太平養老保險股份有限公司
Extract on "Quarterly Solvency Report Summary for Insurance Companies" For the First Quarter of 2016Key Indicators (Unit：RMB0'000)
Indicators | This Quarter (End)1 | Last Quarter (End)2 |
Income from Insurance Business | 172,739 | 78,635 |
Net Profit | -1,659 | 5,817 |
Net Assets | 126,798 | 132,448 |
Admitted Assets | 671,988 | 642,792 |
Admitted Liabilities | 548,622 | 515,047 |
Available Capital | 123,366 | 127,745 |
among them: Core Tier 1 Capital | 123,366 | 127,745 |
Core Tier 2 Capital | - | - |
Ancillary Tier 1 Capital | - | - |
Ancillary Tier 2 Capital | - | - |
Minimum Capital | 49,922 | 50,029 |
Core Capital Surplus | 73,444 | 77,715 |
Core Solvency Ratio | 247% | 255% |
Comprehensive Capital Surplus | 73,444 | 77,715 |
Comprehensive Solvency Ratio | 247% | 255% |
Note: 1. January to March 2016 (as at 31 March 2016)
2. October to December 2015 (as at 31 December 2015)
China Taiping Insurance Holdings Company Limited issued this content on 29 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 April 2016 08:37:22 UTC
Original Document: http://www.ctih.cntaiping.com/UploadedFiles/PDF/201604291454QuarterlySolvencyReportENG.pdf
