China Taiping Insurance Holdings (HKG:0966) has entered into a supplemental agreement to effect the TPAM share transfer agreement upon receipt of approvals by the China Insurance Regulatory Commission (CIRC). As at 28 December 2011, the approvals from the CIRC in relation to the share transfer under the TPAM share transfer agreement and had been obtained but the relevant business registration procedures are in progress. Accordingly, the TPAM share transfer agreement became unconditional.

On 31 December 2010, Taiping Life Insurance Company Limited (TPL), Taiping General Insurance Company Limited (TPI) and China Taiping entered into the TPAM Share Transfer Agreement pursuant to which China Taiping agreed to purchase in aggregate a 60% interest in TPAM for RMB222.684 million.