Established in 1938, China Taiping Insurance (Singapore) Pte. Ltd. (“CTPIS”), is formerly known as China Insurance Co. Ltd, Singapore Branch. In 2002, the company merged with The Tai Ping Insurance Co. Ltd, Singapore Branch. On 1 January 2003, China Insurance Co. Ltd, Singapore Branch was restructured into China Insurance Co. (Singapore) Pte Ltd. In line with the Group to consolidate its operations under the same brand name, the company was known as China Taiping Insurance (Singapore) Pte. Ltd. from 9 September 2009.
CTPIS is a wholly owned subsidiary of China Taiping International Company Limited, which is wholly owned by China Taiping Insurance Holdings Company Limited(“CTIH”), a company listed on the Hong Kong Stock Exchange and the ultimate shareholder being the State Council of the People’s Republic of China. As a financial and insurance group with diversified business coverage and wide network, CTIH’s business covers life insurance, general insurance, reinsurance, reinsurance broking and, also extended to asset management, trust investment, real estate development, securities broking and pensions etc. It has more than 20 subsidiaries across the world, including Mainland China, Hong Kong, Macau, Singapore, Japan, Indonesia, the United Kingdom, the Netherlands and New Zealand.
Being one of the pioneers of the insurance industry in Singapore, CTPIS has grown to become one of the leading general insurers in the country. Today, its paid-up capital and shareholders’ fund has grown to S$80 million and S$121 million respectively with total assets worth more than S$318 million. It was assigned by A.M. Best a financial strength rating of A (Excellent) and issuer credit rating of "a". Outlook for both ratings is stable.
CTPIS is principally engaged in the underwriting of general insurance businesses such as motor, home, travel, personal accident, fire, public liability, marine, work injury compensation, contractors' all risks, performance bond, foreign workers' medical insurance and trade credit insurance etc. In addition, as the main support of CTIG’s overseas general insurance business and regional management center in Southeast Asia and Oceania, CTPIS is assisting in managing its general insurance business in New Zealand and Indonesia.
|1938||Established The Tai Ping Insurance Co Ltd, Singapore Branch.|
|1939||Established China Insurance Co Ltd, Singapore Branch.|
|1986||The Tai Ping Insurance made long-term commitment to Singapore with purchase of office space in a building at 62 Cecil Street. It was renamed as TPI Building.|
|1993||China Insurance expanded its operations with purchase of two floors of office space within The Octagon in the central business district.|
|2002||China Insurance Co Ltd, Singapore Branch merged with The Tai Ping Insurance Co Ltd, Singapore Branch and operated as China Insurance Co Ltd, Singapore Branch.|
|2003||China Insurance Co Ltd, Singapore Branch locally incorporated into China Insurance Co (Singapore) Pte Ltd with a paid-up capital of S$45million. With the leasing of an additional floor within The Octagon, all business units consolidated their operations within the same building. Part of TPI Building was designated to be the operation recovery centre with full facilities for business continuity operations.|
|2006||Paid-up capital was increased to S$50million to further strengthen the company’s financial standing.|
|2009||In line with the Group to consolidate its global businesses and operations under a unified brand name and logo, the company was renamed as China Taiping Insurance (Singapore) Pte Ltd and adopted the new logo.|
|2013||Purchased two floors of office space, with a total floor area of over 20,000 square feet at Springleaf Tower, in tandem with the company’s expansion plans.|
|2014||Relocated our office operations to 15th and 16th floors of Springleaf Tower in July, while retaining the office space at The Octagon for alternative uses.|
|2014||Paid-up capital was increased to S$65 million to strengthen the company’s financial standing.|
|2015||Paid-up capital was further increased to S$80 million as a long-term commitment to the Singapore insurance industry.|