China Taiping Insurance : CHANGE OF DIRECTORS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 966)

ANNOUNCEMENT

CHANGE OF DIRECTORS

The Board announces the following change of non-executive directors of the Company with effect from 31 December 2019:

1. Mr. HUANG Weijian, Mr. ZHU Xiangwen and Mr. WU Changming have resigned as non-executive directors of the Company;
2. Mr. ZHU Xiangwen has also resigned as a member of the risk management committee of the Company;
3. Ms. ZHANG Cui, Mr. GUO Zhaoxu, Mr. YANG Changgui and Mr. HU Xingguo have been appointed as non-executive directors of the Company; and
4. Ms. ZHANG Cui and Mr. GUO Zhaoxu have also been appointed as members of the risk management committee of the Company.

The board of directors (the "Board") of China Taiping Insurance Holdings Company Limited (the "Company", and together with its subsidiaries, the "Group") announces the change of directors and members of the risk management committee of the Company with effect from 31 December 2019 as follows.

RESIGNATION OF NON-EXECUTIVE DIRECTORS AND MEMBER OF RISK MANAGEMENT COMMITTEE

Due to another assignment, Mr. HUANG Weijian ("Mr. HUANG"), Mr. ZHU Xiangwen ("Mr. ZHU") and Mr. WU Changming ("Mr. WU") have resigned as non-executive directors of the Company. Mr. ZHU has also resigned as a member of the risk management committee of the Company. Each of Mr. HUANG, Mr. ZHU and Mr. WU have confirmed that there is no disagreement with the Board, and there is no matter relating to their respective resignations that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited ("Stock Exchange") and the shareholders of the Company. The Company would like to express its sincere gratitude to Mr. HUANG, Mr. ZHU and Mr. WU for their valuable contributions to the Company during their tenure of office.

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APPOINTMENT OF NON-EXECUTIVE DIRECTORS AND MEMBERS OF RISK MANAGEMENT COMMITTEE

Ms. ZHANG Cui ("Ms. ZHANG"), Mr. GUO Zhaoxu ("Mr. GUO"), Mr. YANG Changgui ("Mr. YANG") and Mr. HU Xingguo ("Mr. HU") have been appointed as non-executive directors of the Company. Ms. ZHANG and Mr. GUO have also been appointed as members of the risk management committee of the Company.

Biographical information of Ms. ZHANG, Mr. GUO, Mr. YANG and Mr. HU (collectively the "New Directors") are set out below:

Non-executive Directors

Ms. ZHANG Cui

Aged 54

Current Key	TPG	Non-executive Director*
Positions Held in
China Taiping	China Taiping Insurance Group	Non-executive Director*
Insurance Group	(HK) Company Limited ("TPG
Ltd. ("TPG") and	(HK)")
its subsidiaries
Past Offices	Ministry of Finance of China	Served in various positions including
		Principal	Staff	Member,	Deputy
		Director and Director of the
		Commissioner's	Office	in	Inner
		Mongolia	and	Deputy	Inspection
		Commissioner,	Deputy	Director of
		Hunan Regulatory Bureau	(Former
		Office of the Ministry of Finance in
		Hunan)
	Research Institute of	Editor
	Department of Finance, Inner
	Mongolia
Education,	Central University of Finance	Bachelor Degree in Economics
Qualification	and Economics, China
& Experience

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Mr. GUO Zhaoxu

Aged 54

Current Key	TPG	Non-executive Director*
Positions Held in
TPG and its	TPG (HK)	Non-executive Director*
subsidiaries
Past Offices	China Finance & Economic	General Manager
	Media Group
	Economic Science Press	Deputy Editor-in-Chief, President
	China Financial & Economic	Served in various positions including
	Publishing House	Deputy Director, Director of Editing
		Room and Deputy Editor-in-Chief
Education,	Central University of Finance	Bachelor Degree in Accounting
Qualification	and Economics, China
& Experience
		Senior Editor

Mr. YANG Changgui

Aged 56

Current Key	TPG	Non-executive Director*
Positions Held in
TPG and its	TPG (HK)	Non-executive Director*
subsidiaries
Past Offices	Ministry of Finance of China	Servied in various positions including
		Deputy Director of the Investment
		Division 2 of Infrastructure Department,
		Assistant Director of the Investment
		(Budget) Evaluation Center and Deputy
		Director of the Information Network
		Center
Education,	School of Finance of the Renmin	Master Degree in Finance
Qualification	University of China
& Experience
		Registered Cost Engineer
		Senior Economist, Intermediate
		Accountant
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Mr. HU Xingguo

Aged 54

Current Key	TPG	Non-executive Director*
Positions Held in
TPG and its	TPG (HK)	Non-executive Director*
subsidiaries
Past Offices	China Financial and Economic	Vice President
	News Agency
	Ministry of Finance of China	Served in various positions in General
		Division of Accounting Department and
		National	Accounting	Professional
		Technical	Qualification	Examination
		Office, including Senior Staff Member,
		Principal	Staff	Member, Deputy
		Director, Researcher, Secretary of the
		Department, Director of the General
		Division of the Accounting Department
Education,	China University of Mining &	Doctorate	Degree	in	Management
Qualification	Technology, Beijing	Science
& Experience
	Shanghai University of Finance	Bachelor Degree in Accounting
	and Economics, China
	The Chinese Institute of	Non-practising Member
	Certified Public Accountants

Intermediate Accountant

* subject to relevant regulatory approval.

The New Directors are not appointed for a specific term, but will retire at the annual general meeting of the Company in 2020 pursuant to Article 93 of the Company's articles of association, at which time they will be eligible for re-election. Thereafter, they will be subject to retirement by rotation and re-election every three years at the annual general meetings of the Company in accordance with Article 97 of the Company's articles of association. They are not entitled to receive any remuneration or other benefits, unless otherwise decided by the Board and remuneration committee of the Company in accordance with the procedures applicable to the Board and the remuneration committee.

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Save as disclosed above, the New Directors do not hold any other positions with the Company and other members of the Group or any other directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years or any other major appointments and professional qualifications.

As at the date of this announcement, the New Directors do not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders (as defined under the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") of the Company. As at the date of this announcement, the New Directors do not have any interest in the shares of the Company which are required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The New Directors have confirmed that there is no information required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules. The Board is not aware of any other matter relating to the appointment of the New Directors that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Ms. ZHANG, Mr. GUO, Mr. YANG and Mr. HU to join the Company.

By Order of the Board of

China Taiping Insurance Holdings Company Limited

ZHANG Ruohan

Company Secretary

Hong Kong, 31 December 2019

As at the date of this announcement, the Board comprises 10 directors, of which Mr. LUO Xi and Mr. WANG Sidong are executive directors, Ms. ZHANG Cui, Mr. GUO Zhaoxu, Mr. YANG Changgui and Mr. HU Xingguo are non-executive directors, and Dr. WU Jiesi, Mr. ZHU Dajian, Mr. WU Ting Yuk Anthony and Mr. XIE Zhichun are independent non-executive directors.

The English translation of PRC entities, enterprises, nationals, titles and qualifications in Chinese in this announcement is for identification purposes only. To the extent that there is any inconsistency between such Chinese names, titles and qualifications and their English translations, the Chinese names shall prevail.

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