China Life Property & Casualty Insurance Company Limited Guangzhou Branch

China Life Property & Casualty Insurance Company Limited (hereinafter referred to as "China Life P&C") was established on December 30, 2006, as a core member of China Life Insurance (Group) Company, with a registered capital of 15 billion RMB. Its business scope includes property loss insurance, liability insurance, credit insurance and guarantee insurance, short-term health insurance and accident insurance, reinsurance for the above businesses, utilization of insurance funds as permitted by national laws and regulations, and other businesses approved by the China Insurance Regulatory Commission. China Life P&C has consistently pursued sound and rapid development, conscientiously implementing the decisions and deployments of the Party and the state regarding insurance industry reform and development, fully leveraging the comprehensive operational advantages of the China Life Group, actively adapting to the "new normal" of economic development, seizing opportunities in the property insurance industry, deeply implementing the innovation-driven development strategy, and striving to build a first-class property insurance company with its own characteristics. It has steadily grown into a property insurance market entity with strong competitiveness and influence. China Life P&C has maintained coordinated development of scale and efficiency, breaking the conventional model of property insurance operations, and its overall strength has entered the forefront of the property insurance industry. Moody's, an internationally authoritative rating agency, issued its initial insurance financial strength rating of "A1" to China Life P&C with a stable outlook. In 2016, China Life P&C's premium income exceeded 60 billion RMB, ranking fourth in market share; its net profit was 1.157 billion RMB, achieving operational profitability for eight consecutive years; total assets exceeded 73 billion RMB.