以下為某公司主持翻譯的國內(nèi)保險(xiǎn)公司海外上市招股書英文原文及中文翻譯節(jié)選
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If you are in any doubt about this prospectus, you should consult your stockbroker, bank manager, solicitor, professional accountant or other professional adviser.
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GLOBAL OFFERING
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CONTENTS
You should rely only on the information contained in this prospectus and the Application Forms to make your investment decision. The Company has not authorized anyone to provide you with information that is different from what is contained in this prospectus. Any information or representation not made in this prospectus must not be relied on by you as having been authorized by the Company, the Joint Global Coordinators, the Sponsor and Co-Sponsors, the Underwriters, any of their respective directors, or any other person or party involved in the Global Offering. Please note that the totals set forth in the tables in this prospectus may differ from the sum of individual items in such tables due to rounding.
Expected Timetable ********************** i
Contents******************************* ii
Summary **************************** 1
Definitions ************************** 14
Glossary **************************** 21
Forward-Looking Statements************ 26
Risk Factors ************************ 28
Information About This Prospectus and the Global Offering *** 51
Parties Involved in the Global Offering **** 57
Corporate Information ***************** 63
The PRC Insurance Industry ************ 64
Our Reorganization******************** 71
Business **************************** 74
Overview *************************** 74
Recent Developments***************** 76
Market Opportunities***************** 77
Our Strengths ********************** 78
Our Strategy *********************** 82
Life Insurance********************** 84
Property and Casualty Insurance****** 106
Trust *************************** 125
Securities************************ 126
Overseas Operations *************** 128
Investment Portfolio**************** 129
Risk Management ***************** 136
Information Technology*********** 141
Ratings************************** 143
Competition********************** 144
Overseas Investors *************** 146
Connected Transactions *********** 150
Legal and Regulatory Proceedings *** 163
Properties *********************** 165
Intellectual Property ************** 166
Supervision and Regulation********* 168
Directors, Supervisors, Senior Management and Staff** 186
Substantial and Selling Shareholders*** 201
Share Capital ********************* 206
Financial Information ************** 208
Overview *********************** 208
Trading Record******************* 220
Critical Accounting Policies ******* 225
Results of Operations ************* 229
Segmental Operating Results ******* 235
Liquidity and Capital Resources **** 250
Quantitative and Qualitative Disclosure about Market Risk** 253
Profit Forecast **************** 256
Dividend Policy************** 256
Indebtedness **************** 257
Rules 13.11 to 13.16 of the Hong Kong Listing Rules** 257
Major Customers *********** 257
Working Capital ************* 258
Adjusted Net Tangible Assets and Adjusted Embedded Value ** 258
No Material Adverse Change ***** 259
Embedded Value *************** 260
Future Plans and Use of Proceeds from the Global Offering ***262
Underwriting **************** 263
Structure of the Global Offering *** 269
How to Apply for Hong Kong Offer Shares** 276
Methods to Apply for Hong Kong Offer Shares ** 276
Which Application Method You Should Use ***** 276
Where to Collect the Application Forms ******** 276
When to Apply for the Hong Kong Offer Shares** 280
How to Apply Using a White or Yellow Application Form ** 281
How to Complete the Application Form ********* 284
How to Apply by Giving Electronic Application Instructions to HKSCC *** 284
How Many Applications You Can Make ******* 286
Terms and Conditions of the Hong Kong Public Offering ** 288
Appendices
Appendix I -Accountants’ Report***** I-1
Appendix II -Profit Forecast ********* II-1
Appendix III -Property Valuation Report*** III-1
Appendix IV -Consulting Actuaries’ Report *** IV-1
Appendix V -Taxation and Foreign Exchange ****** V-1
Appendix VI -Summary of Principal Legal and Regulatory Provisions*** VI-1
Appendix VII -Summary of Articles of Association **** VII-1
Appendix VIII -Statutory and General Information **** VIII-1
Appendix IX -Documents Delivered to the Registrar of Companies and
Available for Inspection ******* IX-1
Appendix X -Comfort Letter on Pro Forma Financial Information ** X-1
SUMMARY
This summary aims to give you an overview of the information contained in this prospectus. As it is a summary, it does not contain all the information that may be important to you. You should read the whole document before you decide to invest in the H Shares. There are risks associated with any investment. Some of the particular risks in investing in the H Shares are set forth in the section headed ’’Risk Factors’’ of this prospectus. You should read that section carefully before you decide to invest in the H Shares.
We have included a glossary of insurance and other terms beginning on page 21. These terms are printed in boldface type the first time they appear in this prospectus summary and the first time they appear after this prospectus summary.
OVERVIEW
We are a leading insurance group in the PRC with the ability to provide multiple financial services and products. Our objective is to become one of the leading multiple financial services providers in the world with a core insurance business that consistently delivers stable profit growth and shareholder return. Our strategy is to offer our customers a broad range of financial products and services under one brand, with a focus on life and property and casualty insurance products, through our multi-channel distribution network. Our ability to execute this strategy is enhanced by our sound corporate governance and internal control, strong management team with international experience, advanced information technology platform, centralized customer database, and unified financial, risk and human resource management systems and processes. Our multiple financial services platform enables us to leverage our resources to promote cross-selling and to increase cost efficiency. Moreover, our corporate culture, which is focused on the creation of shareholder value and the adoption of international practices in product management, customer service, distribution and corporate governance, helps us maintain our leadership position in the PRC insurance industry. We have one of the most recognized brands in the PRC insurance industry, especially in individual life insurance, and have developed an extensive customer base in the PRC with over 27 million life insurance and 4 million property and casualty insurance customers as of December 31, 2003. We have also developed one of the largest distribution networks in the PRC, with 70 branch offices, over 3,600 sub-branch offices, more than 180,000 sales agents for our individual life insurance products and over 8,000 employees engaged in sales and marketing activities of our group and property and casualty insurance products as of December 31, 2003. We constantly seek new and innovative ways to serve our customers, and our innovation has not only allowed us to capture market opportunities, but also enabled us to quickly adapt to the rapidly changing market conditions in the PRC.
Based on our PRC GAAP financial data and PRC insurance industry data calculated in accordance with PRC GAAP and published by the National Bureau of Statistics of China and the CIRC:
( We had the second largest market share in the PRC life insurance market in 2002. In addition, we had approximately 19.6% of all the gross written premiums and policy fees received by PRC life insurance companies in 2003;
( We had the third largest market share in the PRC property and casualty insurance market in 2002. In addition, we had approximately 9.7% of the gross written premiums and policy fees received by PRC property and casualty insurance companies;
( Our net profit in 2001 and 2002 were the highest among all PRC insurance companies; and
( Our total assets as of December 31, 2002 were the second highest among all PRC insurance companies.
We have experienced strong growth in our overall insurance operations over the past three years. In particular, our gross written premiums and policy fees increased 42.6% in 2002 to RMB58,420 million from RMB40,955 million in 2001, and increased a further 8.1% in 2003 to RMB63,134 million.
RECENT DEVELOPMENTS
On September 29, 2003, our subsidiary China Ping An Trust & Investment Co., Ltd., or Ping An Trust, entered into a share transfer agreement with Bank of China, pursuant to which Ping An Trust agreed to acquire Bank of China’s 50% equity interest in Fujian Asia Bank Ltd., which is a joint venture bank primarily engaged in foreign currency commercial banking businesses in the PRC, for US$18.3 million. HSBC and BCA Finance Limited had previously entered into a separate share transfer agreement, pursuant to which HSBC agreed to acquire BCA Finance Limited’s 50% equity interest in Fujian Asia Bank Ltd. Ping An Trust and HSBC subsequently entered into a joint venture contract, pursuant to which Ping An Trust agreed to make a capital contribution of US$23 million for an additional 23% equity interest in Fujian Asia Bank Ltd. Fujian Asia Bank Ltd., which has been renamed Ping An Bank Limited, became a 73% owned subsidiary of Ping An Trust on February 19, 2004. We intend to leverage Ping An Bank Limited to develop a consumer banking business, including offering credit card and real estate mortgage lending services, as and when laws and regulations permit. We believe this transaction will further enhance our ability to provide our customers with multiple financial services, including insurance, securities, banking, pension fund management and credit cards. See the section headed ’’Business-Recent Developments’’.
MARKET OPPORTUNITIES
During the past decade, the PRC insurance market has been one of the fastest growing insurance markets in the world, with industry-wide insurance premiums increasing from RMB50 billion in 1994 to RMB388 billion in 2003 based on data published by the National Bureau of Statistics of China. In particular, significant growth was recorded since 2000, with industry-wide insurance premiums increasing by 44.7% to RMB305 billion and 27.2% to RMB388 billion in 2002 and 2003, respectively. Despite the substantial growth in premiums in recent years, the industry-wide life and property and casualty insurance premiums represented only 2.6% and 0.7%, respectively, of the PRC’s GDP in 2003. These low penetration rates indicate that the PRC insurance market has substantial potential for further significant growth. Furthermore, penetration rates in the PRC insurance market are significantly lower than those in the more developed markets in Asia, Europe and North America.
The PRC is in the midst of an economic as well as demographic transformation, which we
believe will continue to create significant growth opportunities in the PRC insurance market. In particular, the economic transformation has resulted in the gradual reduction of government sponsored benefits, while at the same time giving rise to a middle class that has growing levels of disposable income, and the demographic transformation is expected to result in an increase in demand for insurance-related products due to the increase in the percentage of the population aged 65 or older. Moreover, we believe the economic transformation in the PRC will create opportunities for other consumer financial products and services, such as credit cards and home mortgages. In addition, we expect to see an increase in demand for more sophisticated and diversified consumer financial products and services, such as trust, securities and related services. We believe that, as a leading PRC insurance group with the ability to provide multiple financial services and products, we are well-positioned to capture these opportunities.
OUR STRENGTHS
We are one of the largest and most profitable and most innovative insurance companies in the PRC. Our principal strengths include:
( A leading insurance franchise with a well-recognized brand name;
( A corporate culture that is focused on shareholder value and on effective adoption of international practices;
( Sound corporate governance and effective internal controls;
( An experienced and strong management team that combines international expertise with extensive operating experience in the PRC insurance industry;
( Strong multi-channel distribution capability;
( Leading and innovative customer service;
( Focus on more profitable regular premium individual life insurance products;
( Strong investment management capability;
( Leading information technology systems; and
( A multiple financial services platform to capture new business opportunities.
OUR STRATEGY
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中文翻譯
閣下如對(duì)本招股書有任何疑問，應(yīng)諮詢閣下之股票經(jīng)紀(jì)、銀行經(jīng)理、律師、專業(yè)會(huì)計(jì)師或其他專業(yè)顧問。
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全球發(fā)行
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目錄
閣下應(yīng)僅依賴本招股書及申請(qǐng)表格作出投資決定。本公司並無授權(quán)任何人向閣下提供與本招股書中所載者不符之資料。對(duì)於並無載於本招股書之任何資料或陳述， 閣下均不應(yīng)視為已獲得本公司、聯(lián)席全球協(xié)調(diào)人、保薦人和聯(lián)席保薦人、承銷商、上述各方之任何董事或參與全球發(fā)行之任何人士授權(quán)而加以信賴。敬請(qǐng)閣下注意，由於採取了四捨五入之方法，本招股書各表格中的合計(jì)數(shù)字未必等於相應(yīng)表格中單項(xiàng)數(shù)字之和。
預(yù)期時(shí)間表. . . . . . . . . . i
目錄. . . . . . . . . . . . . . . . . . ii
概要. . . . . . . . . . . . . . . 1
釋義. . . . . . . . . . . . . 14
詞彙. . . . . . . . . . . . 21
展望性表述. . . . . . . . . . . . . . . . . . 26
風(fēng)險(xiǎn)因素. . . . . . . . . . . . . . . 28
與本招股書和全球發(fā)行有關(guān)之信息. . . . . . . . 51
參與全球發(fā)行之各方當(dāng)事人. . . . . . . . . . 57
公司信息. . . . . . . . . . . . . 63
中國保險(xiǎn)業(yè). . . . . . . . . . . . . . 64
本公司重組. . . . . . . . . . . . . . . . . . . 71
業(yè)務(wù). . . . . . . . . . . . . . . . . . . . . 74
概況. . . . . . . . . . . . . . . . . 74
近期發(fā)展. . . . . . . . . . . . . . . 76
市場機(jī)遇. . . . . . . . . . . . . . . . 77
本公司的實(shí)力. . . . . . . . . . . . . . . . . . . 78
本公司的戰(zhàn)略. . . . . . . . . . . . . . . . . . . 82
人壽保險(xiǎn). . . . . . . . . . . . . 84
財(cái)產(chǎn)保險(xiǎn). . . . . . . . . . . . . 106
信託. . . . . . . . . . . . . . . . . . . . . 125
證券. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
海外業(yè)務(wù)經(jīng)營. . . . . . . . . . . . . . . . . . 128
投資組合. . . . . . . . . . . . . . . . . . . . . . . . . 129
風(fēng)險(xiǎn)管理. . . . . . . . . . . . . . . . . . . . . 136
信息技術(shù). . . . . . . . . . . . . . . . . . . . 141
評(píng)級(jí). . . . . . . . . . . . . . . . . . . . . 143
競爭. . . . . . . . . . . . . . . . . . . . . . . 144
海外投資者. . . . . . . . . . . . . . . . . . 146
關(guān)連交易. . . . . . . . . . . . . . . . . . . . 150
法律與監(jiān)管程序. . . . . . . . . . . . . 163
財(cái)產(chǎn). . . . . . . . . . . . . . . . . . 165
知識(shí)產(chǎn)權(quán). . . . . . . . . . . . . . . . . . . . . . 166
監(jiān)督與管制. . . . . . . . . . . . . . . . . 168
董事、監(jiān)事、高級(jí)管理人員. . . . . 186
主要股東和售股股東. . . . . . . 201
股本. . . . . . . . . . . . . . . 206
財(cái)務(wù)信息. . . . . . . . . . . . . . . . . . . . . . . . . . 208
概況. . . . . . . . . . . . . . . . . . . . . . . 208
交易記錄. . . . . . . . . . . . . . 220
重要會(huì)計(jì)政策. . . . . . . . . . . . . 225
經(jīng)營業(yè)績. . . . . . . . . . . . . . . . . . . . . 229
分部經(jīng)營業(yè)績. . . . . . . . . . . . . . . . . 235
流動(dòng)性與資本來源. . . . . . . . . . . . . 250
市場風(fēng)險(xiǎn)之定量與定性披露. . . . . . . 253
利潤預(yù)測. . . . . . . . . . . . . . . . 256
股息政策. . . . . . . . . . . . . . 256
債務(wù). . . . . . . . . . . . . . . . 257
香港上市規(guī)則第13.11 到第13.16 條. . . . . . . 257
主要客戶. . . . . . . . . . . . . . . . 258
調(diào)整後有形資產(chǎn)淨(jìng)值和調(diào)整後內(nèi)涵價(jià)值. . . . . . . . . . . 258
無重大逆轉(zhuǎn). . . . . . . . . . . . 259
內(nèi)涵價(jià)值. . . . . . . . . . . . . . . . 260
未來計(jì)劃與全球發(fā)行的所得款項(xiàng)之運(yùn)用. . . . . . . 262
承銷. . . . . . . . . . . . . . . . . . . . 263
全球發(fā)行結(jié)構(gòu). . . . . . . . . . . . . . . . . . . . . 269
如何申購香港發(fā)售股份. . . . . . . . . . . . . . . . . . 276
申請(qǐng)香港發(fā)售股份之方法. . . . . . . . . . . . 276
使用何種申請(qǐng)方法. . . . . . . . . . . . . . 276
何處領(lǐng)取申請(qǐng)表格. . . . . . . . . . . . . . 276
何時(shí)申請(qǐng)香港發(fā)售股份. . . . . . . . . . . . 280
如何以白色或黃色申請(qǐng)表格申購. . . . . . . . . . . . 281
如何填寫申請(qǐng)表格. . . . . . . . . . . . . . . . . . . . . 284
如何向香港結(jié)算發(fā)出電子認(rèn)購指示. . . . . . . . 284
閣下可以申請(qǐng)的次數(shù). . . . . . . . . . . . . 286
香港公開發(fā)行之條款和條件. . . . . . . . 288
附錄
附錄一－ 會(huì)計(jì)師報(bào)告. . . . . . . . . . . . . . . . . . . . I-1
附錄二－ 利潤預(yù)測. . . . . . . . . . . . . . . . . . . . II-1
附錄三－ 物業(yè)估價(jià)師報(bào)告. . . . . . . . . . . . . III-1
附錄四－ 諮詢精算師報(bào)告. . . . . . . . . . . . IV-1
附錄五－ 稅務(wù)與外匯. . . . . . . . . . . . . . V-1
附錄六－ 主要法律與監(jiān)管法規(guī)概要. . . . . . . . . VI-1
附錄七－ 公司章程概要. . . . . . . VII-1
附錄八－ 法定及一般資料. . . . . . . . . . . . . . . VIII-1
附錄九－ 送呈公司註冊(cè)處及備查之文件. . . . . . . . . IX-1
附錄十－ 備考財(cái)務(wù)信息告慰函. . . . . . . . X-1
概要
本概要旨在向閣下提供本招股書中包含的信息概況。作為概要，可能沒有包含閣下需要瞭解的全部重要信息。在作出H 股投資決定前， 閣下應(yīng)閱讀招股書全文。任何投資都存在風(fēng)險(xiǎn)。投資H 股時(shí)的一些特殊風(fēng)險(xiǎn)在本招股書「風(fēng)險(xiǎn)因素」項(xiàng)下有相關(guān)說明。在作出H 股投資決定前， 閣下應(yīng)仔細(xì)閱讀該節(jié)有關(guān)說明。
從第21 頁開始，本公司在招股書中列出了保險(xiǎn)詞彙表和其他相關(guān)術(shù)語。第一次出現(xiàn)在本招股書概要中時(shí)和在本招股書概要後第一次出現(xiàn)時(shí)，這些術(shù)語均用粗體字打印出來。
概況
本公司是中國領(lǐng)先的保險(xiǎn)集團(tuán)公司，有能力提供多元化金融服務(wù)及產(chǎn)品。本公司的目標(biāo)是成為以保險(xiǎn)業(yè)務(wù)為核心的世界領(lǐng)先的多元化金融服務(wù)集團(tuán)，持續(xù)獲得穩(wěn)定的利潤增長及讓股東獲得穩(wěn)定回報(bào)。本公司的戰(zhàn)略是通過公司的多渠道分銷網(wǎng)絡(luò)，以統(tǒng)一的品牌向客戶提供多種金融產(chǎn)品和服務(wù)，尤其是人壽保險(xiǎn)與財(cái)產(chǎn)保險(xiǎn)產(chǎn)品。我們擁有成熟的公司治理和內(nèi)部控制經(jīng)驗(yàn)、國際經(jīng)驗(yàn)深厚的管理團(tuán)隊(duì)、先進(jìn)的信息技術(shù)平臺(tái)、集中的客戶數(shù)據(jù)庫以及統(tǒng)一的財(cái)務(wù)、風(fēng)險(xiǎn)和人力資源管理制度來使我們的戰(zhàn)略得以逐步實(shí)現(xiàn)。本公司的多元化金融服務(wù)平臺(tái)使本公司能夠綜合利用公司的各種資源，促進(jìn)交叉銷售，並提高成本效益。而且，本公司的企業(yè)文化突出為股東創(chuàng)造價(jià)值，並在產(chǎn)品管理、客戶服務(wù)、分銷和公司治理等方面與國際慣例接軌。這有助於本公司維持自己在中國保險(xiǎn)行業(yè)的領(lǐng)先地位。本公司擁有中國保險(xiǎn)行業(yè)最知名的品牌之一，尤其是在個(gè)人壽險(xiǎn)方面，而且在中國發(fā)展了廣泛的客戶群。截至2003 年12 月31 日，本公司擁有超過2,700 萬名壽險(xiǎn)客戶和400 萬名產(chǎn)險(xiǎn)客戶。本公司還在中國發(fā)展了最大的分銷網(wǎng)絡(luò)之一。截至2003 年12 月31 日，本公司擁有70 家分公司、超過3,600 家分支機(jī)構(gòu)、個(gè)人壽險(xiǎn)產(chǎn)品銷售代理人180,000 多名、團(tuán)體保險(xiǎn)和財(cái)產(chǎn)保險(xiǎn)產(chǎn)品銷售和營銷員工8,000 多名。本公司不斷追求創(chuàng)新方法，更好地為客戶服務(wù)；創(chuàng)新不僅使本公司抓住各種市場機(jī)遇，而且使公司能夠迅速適應(yīng)中國快速變化的市場條件。
根據(jù)本公司按照中國公認(rèn)會(huì)計(jì)準(zhǔn)則編製的財(cái)務(wù)數(shù)據(jù)和按照中國公認(rèn)會(huì)計(jì)準(zhǔn)則計(jì)算並由中國國家統(tǒng)計(jì)局和中國保監(jiān)會(huì)公佈的中國保險(xiǎn)行業(yè)數(shù)據(jù)：
· 2002 年本公司位居中國人壽保險(xiǎn)市場佔(zhàn)有率第二。另外， 2003 年，本公司人壽保險(xiǎn)毛承保保費(fèi)及保單費(fèi)收入佔(zhàn)中國人壽保險(xiǎn)業(yè)保費(fèi)總收入的比例大約為19.6%；
· 2002 年本公司位居中國財(cái)產(chǎn)保險(xiǎn)市場佔(zhàn)有率第三。另外， 2003 年，本公司財(cái)產(chǎn)保險(xiǎn)毛承保保費(fèi)及保單費(fèi)收入佔(zhàn)中國財(cái)產(chǎn)保險(xiǎn)業(yè)保費(fèi)總收入的比例大約為9.7%；
· 本公司2001 年和2002 年的淨(jìng)利潤在中國所有保險(xiǎn)公司中位居第一；而且
· 截至2002 年12 月31 日本公司資產(chǎn)總額在中國所有保險(xiǎn)公司中位居第二。
本公司過去三年來在整體保險(xiǎn)經(jīng)營方面獲得了強(qiáng)勁增長。特別是，本公司2002 年的毛承保保費(fèi)及保單費(fèi)收入增加了42.6% ，從2001 年的人民幣409.55 億元增加到人民幣584.20 億元， 2003 年進(jìn)一步增加了8.1% ，增加到人民幣631.34 億元。
近期發(fā)展
2003 年9 月29 日，本公司之子公司平安信託投資有限責(zé)任公司，即平安信託，與中國銀行簽訂了股權(quán)轉(zhuǎn)讓協(xié)議，根據(jù)該協(xié)議，平安信託同意收購中國銀行在福建亞洲銀行中50% 的權(quán)益。福建亞洲銀行是一家合資銀行，在中國主要從事外匯商業(yè)銀行業(yè)務(wù)，這次收購對(duì)價(jià)為1,830 萬美元。在此之前，·豐銀行與中亞財(cái)務(wù)有限公司簽訂了獨(dú)立的股權(quán)轉(zhuǎn)讓協(xié)議，根據(jù)該協(xié)議，·豐銀行同意收購中亞財(cái)務(wù)有限公司在福建亞洲銀行中50% 的權(quán)益。隨後，平安信託與·豐銀行簽訂了合資合同，根據(jù)該合同，平安信託同意出資2,300 萬美元，再取得福建亞洲銀行23% 的權(quán)益。2004 年2 月19 日，福建亞洲銀行更名為平安銀行有限責(zé)任公司（以下簡稱「平安銀行」），成為平安信託擁有73% 股權(quán)的子公司。我們計(jì)劃利用平安銀行這一金融平臺(tái)，發(fā)展個(gè)人金融業(yè)務(wù)，包括在法律法規(guī)允許時(shí)，發(fā)行信用卡以及開展房產(chǎn)按揭貸款服務(wù)等。本公司相信這些金融業(yè)務(wù)將進(jìn)一步加強(qiáng)我們的金融服務(wù)平臺(tái)，增強(qiáng)我們向客戶提供包括保險(xiǎn)、證券、銀行、養(yǎng)老保險(xiǎn)基金管理和信用卡業(yè)務(wù)等多元化金融服務(wù)的能力，服務(wù)內(nèi)容參閱「業(yè)務(wù) — 近期發(fā)展」一節(jié)。
市場機(jī)遇
過去10 年中，中國保險(xiǎn)市場成為世界上增長最快的保險(xiǎn)市場之一，按照中國國家統(tǒng)計(jì)局公布的數(shù)據(jù)，全行業(yè)保費(fèi)從1994 年的人民幣500 億元增長到2003 年的人民幣3,880 億元。尤其是自2000年以來，增長速度特別快，2002年和2003年全行業(yè)保費(fèi)分別增加到人民幣3,050億元和人民幣3,880億元，增長率分別為44.7% 和27.2% 。儘管近年來保費(fèi)增長迅速， 2003 年全行業(yè)壽險(xiǎn)和產(chǎn)險(xiǎn)保費(fèi)分別只佔(zhàn)全國國內(nèi)生產(chǎn)總值的2.6% 和0.7% 。較低的市場滲透率表明，中國保險(xiǎn)市場仍然存在進(jìn)一步快速增長的潛能。而且，中國保險(xiǎn)市場的滲透率遠(yuǎn)低於亞洲、歐洲和北美較發(fā)達(dá)市場的滲透率。
中國目前處於經(jīng)濟(jì)和人口結(jié)構(gòu)轉(zhuǎn)型時(shí)期，本公司認(rèn)為這一趨勢(shì)將繼續(xù)為中國保險(xiǎn)市場創(chuàng)造巨大的增長機(jī)會(huì)。特別是，中國經(jīng)濟(jì)轉(zhuǎn)型過程中政府直接提供的福利逐漸減少，同時(shí)，正在發(fā)展壯大的中產(chǎn)階級(jí)可支配的收入也不斷增加，而且人口轉(zhuǎn)型中65 歲以上人口的比例會(huì)不斷增加，預(yù)期將引起保險(xiǎn)相關(guān)產(chǎn)品需求的增加。而且，本公司認(rèn)為，經(jīng)濟(jì)的轉(zhuǎn)型將為其他個(gè)人金融產(chǎn)品和服務(wù)創(chuàng)造各種機(jī)會(huì)，如信用卡和住房抵押貸款等業(yè)務(wù)的增加。另外，本公司預(yù)期更複雜、更多元化的個(gè)人金融產(chǎn)品和服務(wù)之需求會(huì)增加，如信託、證券和相關(guān)服務(wù)等。本公司認(rèn)為，作為中國能夠提供多元化金融服務(wù)及產(chǎn)品的一家領(lǐng)先的保險(xiǎn)集團(tuán)公司，本公司有優(yōu)勢(shì)更好地把握這些機(jī)遇。
本公司的實(shí)力
本公司是中國最大、最具盈利能力和創(chuàng)新能力的保險(xiǎn)公司之一。本公司的主要實(shí)力包括：
· 領(lǐng)先的保險(xiǎn)地位和知名的品牌；
· 公司企業(yè)文化核心體現(xiàn)為為股東創(chuàng)造價(jià)值和有效地與國際慣例接軌；
· 完善的公司治理和有效的內(nèi)部控制；
· 經(jīng)驗(yàn)豐富的強(qiáng)大管理層隊(duì)伍，集國際專業(yè)知識(shí)和廣泛的中國保險(xiǎn)業(yè)經(jīng)營經(jīng)驗(yàn)於一體；
· 強(qiáng)大的多渠道分銷能力；
· 領(lǐng)先、創(chuàng)新的客戶服務(wù)；
· 突出更有盈利性的期繳保費(fèi)個(gè)人壽險(xiǎn)產(chǎn)品；
· 強(qiáng)大的投資管理能力；
· 領(lǐng)先的信息技術(shù)系統(tǒng)；及
· 多元化金融服務(wù)平臺(tái)，以抓住新的業(yè)務(wù)機(jī)遇。
本公司的戰(zhàn)略
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本公司主持、參加了國內(nèi)所有保險(xiǎn)公司海外上市招股書的翻譯項(xiàng)目，全程招股書翻譯及時(shí)、高效、準(zhǔn)確，歡迎與我們聯(lián)系翻譯業(yè)務(wù)，電話 010 84853545。
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