From Wikipedia, the free encyclopedia
Ping An Insurance
Ping An Insurance
?????? China Ping An Insurance
Type Founded Headquarters
Privately-held 1988 Shenzhen, Guangdong, People’s Republic of China People’s Republic of China Ma Mingjie, Chairman Diversified insurance China Ping An Insurance Group www.pingan.com
has been diversifying into financial services from its core business of insurance and began taking investments from overseas firms. Ping An accepted investments from Morgan Stanley and Goldman Sachs in 1994. In 2002 HSBC took a large equity interest in Ping An. In early 2008, Ping An agreed to take a 50% share in Fortis Investments,[1] which had taken over ABN AMRO Asset Management as a result of the split up of ABN Amro in late 2007, but the deal was cancelled in October 2008.
A de facto HSBC subsidiary
Although Ping An styles itself as a local chinese insurer,HSBC acquired more than 50% of its shares by means of different HSBC subsidiaries.[2]
Area served Key people Industry Parent Website
Markets
Since June 24, 2004 Ping An has been listed on the Hong Kong Stock Exchange. SEHK: 2318 Now, it has stock exchange in Shanghai, SSE: 601318. Ping An was chosen as an index stock of the Hang Seng China Enterprises Index (HSCEI) replacing Anhui Expressway. The Hang Seng Index Services Company announced on 11 May, 2007 that Ping An will join as Hang Seng Index Constituent Stock (Blue Chip Stock) since 4 June, 2007.
Ping An (Chinese: ????; pinyin: Zhōngguó Píng Ān), full name Ping An Insurance (Group) Company of China, Ltd. is a holding company whose subsidiaries mainly deal with insurance and financial services. The company was founded in 1988 and has its headquarters in Shenzhen.
Business
Ping An Insurance group is the holding company of Ping An Life Insurance Company of China, Ltd. and Ping An Property & Casualty Insurance Company of China, Ltd. It also controls China Ping An Insurance Overseas (Holdings) Limited and Ping An Trust & Investment Co., Ltd. Ping An Insurance Overseas, located in Hong Kong, is a second holding company for subsidiary companies located outside of China. Ping An Trust & Investment has the subsidiaries of Ping An Securities and Ping An Bank. Ping An began as only a casualty insurance company. Since the mid 1990s Ping An
Operations
Ping An has operations across all of the People’s Republic of China, and in Hong Kong and Macau through Ping An Insurance Overseas. Ping An has branches or a representative agent in 150 countries.
References
[1] The Ping An-Fortis Deal: Who Really Wins?, Caijing Magazine, 3 April 2008 [2] http://www.cz88.net/stock/stock/601318/ 010/
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From Wikipedia, the free encyclopedia
Ping An Insurance
• Company web site 2
External links
• Company web site 1
Retrieved from "http://en.wikipedia.org/wiki/Ping_An_Insurance" Categories: Companies listed on the Hong Kong Stock Exchange, Companies listed on the Shanghai Stock Exchange, SSE 50 Companies, Hang Seng Index Constituent Stocks, Hang Seng China Enterprise Index Constitute Stock, Hang Seng China 50 Index, Privately held companies of the People's Republic of China, Warrants issued in Hong Kong Stock Exchange, Callable Bull/Bear Contracts issued in Hong Kong Stock Exchange, Companies in Shenzhen, Insurance companies of China, HSBC, Chinese company stubs This page was last modified on 27 April 2009, at 07:34 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) taxdeductible nonprofit charity. Privacy policy About Wikipedia Disclaimers
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