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Tianping Auto Insurance (Tianping Insurance), a Shanghai-headquartered auto insurer, is expected to list in 2011 at earliest under a condition that the company will reach the profit-making target this year.
People close to the matter disclosed that there will be no problem that the insurer will make profits this year unless extraordinary changes will happen in the industry, which will clear the obstacles on the insurer’s way to listing. In the first half of this year, the company witnessed net profit of CNY 103 million and maintained profitable for two consecutive years in 2007 and 2008 when the profitability of the overall Auto Insurance sector was not ideal.
Tianping Auto Insurance, the first professional auto insurer in China, is said to list on the main board of the Chinese A-share market. If successful, the company is to become the first listed property insurance firm in the nation. However, the insurance firm did not confirm the aforesaid saying by far.
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