China Taiping Insurance Holdings clarifies media reports

Articles related to its parent company, China Taiping Insurance Group.

The board of directors of China Taiping Insurance Holdings Company Limited issued a statement regarding certain news articles which mentioned that China Taiping Insurance Group, also known as TPG, would inject assets into the Group and commence restructuring.

In response to such articles, the Group said:

The Group is exploring various proposals and measures to further enhance the financial capacity and capital management efficiency of the Group in order to support the business development of its subsidiaries.

Among others, such proposals include increasing the Company’s shareholding in its non-wholly owned subsidiaries with the support of its controlling shareholder (including the possible acquisition of a 25.05% equity interest in Taiping Life Insurance Company Limited from TPG) and/or making other strategic investments, to be funded by the issuance of new equity as consideration.

The Group will look into the feasibility of the various proposals. Currently no agreement has been entered into in respect of the aforesaid possible acquisitions.

The Group currently does not have any plans for the issuance and listing of A shares in the mainland China equity markets.