Background of China Insurance
 China
Insurance Company (UK) Ltd was registered in 1983, approved and licensed
by the Department of Trade and Industry in time to begin undewriting
on 1st October 1985, from which time it has also been a member of Association
of British Insurers.
Originally a joint venture between The People's Insurance Company of
China and Bank of China, it has since been 100% owned by China Insurance
(Holdings) Co. Ltd.
Authorised to transact most classes of fire,accident, liabilities,
marine and aviation business both direct and through reinsurance, the
Company has a fully paid share capital of £15m. Currently assets
under management exceed £50m with more than 40% of this figure
attributable to shareholders. Our current level of annual income at
nearly £16m (all underwritten within the UK), provides the Company
with a very solid base for it's future development and a substantial
margin over the minimum solvency requirement under the Insurance Companies
Acts.
We have developed a strong network of brokers and agents throughout
the United Kingdom and Northern Ireland and also transact business direct
with the public particularly among the Chinese Community.
So far, we have a Representative Office in Manchester, and a branch
in Netherland to support our customers outside of the United Kingdom.
Our parent company as a financial and insurance group with diversified
business coverage and a vast network, the business covers general insurance,life
insurance,reinsurance, also extended to asset management,trust investment,real
estate develpment, securities broking and pensions etc.
The mission of our group is to help create a prosperous society while
promoting the well-being and peace of mind among people. As a member
of this group, we are focusing on the European business and we aim to
establish ourselves as a distinctive Chinese insurance brand in the
European market.
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Latest News
The share capital has been increased by £5 million.
The head office in Hongkong has as a result of a major review of their
corporate strategies confirmed that they see this company as a strategy
and vital component in their future European development plan.
We look forward to developing our structures to aid this objective.
In evidence of such support, they have post balance sheet date of 31/12/2006
agreed to an increase in paid up capital to £15 million and a
further £5 million of £1 shares have been subscribed at
par.
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