Date
24 November 2017
China Taiping chairman Wang Bing says the insurer will focus on fast and steady growth. Photo: chamc.com.cn
China Taiping chairman Wang Bing says the insurer will focus on fast and steady growth. Photo: chamc.com.cn

China Taiping to review dividend policy

China Taiping Insurance Holdings Co. Ltd. (00966.HK) is reviewing its dividend policy after years of investment, the Hong Kong Economic Journal reported Friday.

It has not paid dividend in recent years, keeping the money instead to fund growth, chief financial officer Li Tao said.

The company said it has achieved its targets concerning premium income, net profit and assets.

It has just completed a three-year strategic plan.  

Net profit came in at HK$4.04 billion (US$521 million) for 2014, up 1.4 times from the previous year, with the value of new business rising 37.4 percent to HK$4.33 billion.

Embedded value per share grew 30.5 percent to HK$20.10. The insurer had a 5.4 percent market share as of the end of 2014.

Chairman Wang Bin said the company will focus on fast and steady growth.

This article appeared in the Hong Kong Economic Journal on March 27.

Translation by Vey Wong

[Chinese version 中文版]

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