China Taiping Insurance Group Co, the country's fourth largest insurance group, is trying to integrate its two non-life insurance subsidiaries after Ming An (Holdings) Co Ltd was delisted from the Hong Kong bourse last month, the group's top management said in an interview.
"Ming An will focus on its telemarketing model, while Taiping Property and Casualty Insurance Co still run traditional business," said Lin Fan, president of Taiping Insurance Group. "And the company name of Ming An will also be changed later for the consistency of the brand name."
Despite the financial crisis, Taiping Group's premium income is expected to exceed 31.7 billion yuan this year, up 15.7 percent than the previous year. And the group's total assets are projected to jump by 20 percent to 100 billion yuan by the end of the year.
Lin said the group has no plan for listing as a whole in the short term.>
