Ming An (Holdings) Company Limited was a listed holding company of

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

. Through subsidiaries, It provides general

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

in Hong Kong and in Mainland China. It provides

motor insurance Vehicle insurance (also known as car insurance, motor insurance, or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury r ...

property insurance Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or bo ...

employee compensation Compensation and benefits (C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation and benefits are tangible, there are intangible rewards such as recognition, work-life and de ...

marine insurance Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch o ...

accident insurance Accident insurance is a type of insurance where the policy holder is paid directly in the event of an accident resulting in injury of the insured. The insured can spend the benefit payment however they choose. Accident insurance is complementary to ...

and

health insurance Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among ma ...

History

Ming An Insurance

Ming An Insurance (HK) was first established in 1947 in Hong Kong. It was nationalized after the establishment of the

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

in 1949. Despite all Mainland China insurers were merged into

People's Insurance Company of China The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder. The group contains the major subsidiaries: PICC Asset Managem ...

(PICC), Ming An Insurance was kept as a "window company" of the Chinese Government in the

British Hong Kong Hong Kong was a colony and later a dependent territory of the British Empire from 1841 to 1997, apart from a period of occupation under the Japanese Empire from 1941 to 1945 during the Pacific War. The colonial period began with the Briti ...

, a British colony until 30 June 1997. Fellow insurers Taiping Insurance Company and China Insurance Company also survived as overseas subsidiaries of PICC. In 1999, PICC was split into smaller insurer groups, which Ming An Insurance belonged to China Insurance Company. An intermediate holding company, The Ming An (Holdings) Company Limited was incorporated in 2006 in the

Cayman Islands The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...

. It became a listed company on the

Stock Exchange of Hong Kong The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repo ...

in the same year. As of 2007, Ming An Insurance had a market share of 3.9% in general insurance and ranked the fourth; the third was

Bank of China Insurance A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

(4.9%).

Ming An Holdings

Ming An (Holdings) was a listed company that incorporated on 5 September 2006. Before it became a listed company, the

parent company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

and largest

shareholder A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal own ...

was China Insurance HK (Holdings), which was also the parent company of fellow listed company China Insurance International Holdings (CIIH). The second largest shareholder was

Cheung Kong Holdings Cheung Kong (Holdings) Limited, is a multinational conglomerate, based in Hong Kong. It was one of Hong Kong's leading multi-national conglomerates. The company merged with its subsidiary Hutchison Whampoa on 3 June 2015, as part of a major ...

, which acquired 29% stake of Ming An Insurance (HK) in July 2006. In the eve of the listing and group re-organization, China Insurance HK (Holdings) owned 66.1% shares of Ming An (Holdings), followed by Cheung Kong (29%). The listed company CIIH also owned 4.9%. In turn, Ming An (Holdings) 100% owned Ming An Insurance (HK) and Ming An Insurance (HK) 100% owned Ming An Insurance (China). In 2009 the listed company was privatized by CIIH, which known as

China Taiping Insurance Holdings China Taiping Insurance Holdings Company Limited (CTIH) formerly China Insurance International Holdings Company Limited (CIIH), is a Chinese insurance conglomerate. The company has strong Chinese Central Government background despite being incor ...

since the same year. The subsidiary, Ming An Insurance (HK), was also renamed to China Taiping Insurance (HK) Company Limited.

References

External links

* {{official website, http://www.mahcl.com Financial services companies established in 1949 Insurance companies of China Insurance companies of Hong Kong CK Hutchison Holdings Companies formerly listed on the Hong Kong Stock Exchange 1947 establishments in Hong Kong Offshore companies of the Cayman Islands