Chairman's speech
Chairman of China Taiping
Insurance Group - Bin Wang

China Taiping, founded in 1929, is the longest-standing insurance brand in China. In its nearly 90 years of history, China Taiping has aspired to revitalise growth among China’s insurance brands. By embracing the challenges along the way, we have maintained a legacy of excellence and a strong foundation.

Since the 18th National Congress, we leveraged on the opportunity of being directly managed by the central government. We take to heart our political position, missions and responsibilities as a state-owned enterprise. We have accomplished, with excellence, the strategic goal of “Building a New Taiping in Three Years” and implemented the “Top-quality Strategy". The Group’s total premiums increased from 42.3 billion in 2011 to above 155 billion in 2017, and our total assets grew from 164.5 billion in end-2011 to above 550 billion in 2017. The scale of assets under our management has reached almost a trillion. Not only is dynamic improvement evident in the Group’s strategic management and control, we also thrived in market competitiveness, brand influence, cultural cohesion and harmony as well as overall comprehensive strength. We have significantly improved our operation, management and qualitative efficiency, strengthened risk management, and have made substantial contributions to Party-building initiatives and the well-being of society. An integrated business model between partner corporations and internationalised operations have been the focus of our efforts. With these distinctive and exemplary attributes, China Taiping has refreshingly taken on a brand new look.

In the face of the tasks of serving the real economy, preventing financial risks, and deepening the financial reform, China Taiping has not forgotten its primary purpose to rejuvenate China’s insurance brands. Our “Three-step Strategy” has set out key milestones for the road ahead: Firstly, by our 90th anniversary celebration in 2019, we aim to become a Fortune 500 company; Secondly, by 2020, we aim to build a moderately prosperous society and, as the 13th Five-Year Plan reaches its final year, emerge as a top-quality insurance provider renowned both at home and abroad; Thirdly, by our 100th anniversary celebration in 2029, we aim to have proudly morphed into a first-class finance and insurance group with global competitiveness.

Ushering in a new era, we look up to the Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and put the 19th National Congress’s guiding principles into action. We are determined to pursue the “Top-quality Strategy”, and we will strive to make China Taiping stronger and better. We will devote ourselves to achieve the Chinese Dream of great rejuvenation of the Chinese nation.