Today we celebrate the 20th anniversary of our partnership with China Taiping Group (CTIH). In 2001 Ageas took the decision to take a minority stake in Taiping Life Insurance with a view to building a leading nationwide life insurance company in China. This partnership fully leveraged the unique position of CTIH and its experience in the Chinese market. It was the start of a remarkable journey that has demonstrated what can be achieved when you bring together two parties with complementary skills and a strong desire and commitment to work together. In this case the combination of two centuries of insurance experience with a strong and highly respected local brand.
As the No.6 player in the market, with inflows of EUR 20 billion, Taiping Life is one of the leading life insurance partnerships in the China market.
Our partnership with China Taiping Group has continually evolved. In what has been a long journey of cooperation between the two companies, Ageas has further broadened its interest in the Chinese market, and the successful partnership with CTIH through equity investments in Taiping Asset Management Company Limited, Taiping Financial Services Company Limited, and most recently in Taiping Reinsurance Company Limited.