Pacific-Antai Life Insurance Company Limited (Hereinafter referred to as “PALIC”), a joint venture between China Pacific Insurance (Group) Co., Ltd. and ING Group N.V., was established on October 16th, 1998 in Shanghai, with a registered capital of RMB 500 million. Since inception, PALIC has upheld its business philosophy of “Develop People, Build Trust, Assure Stability and Inspire Excellence”. Employing the company culture of “Customer-Orientation”, PALIC has achieved its business objective of a sound and rapid growth through sincere insurance services, professional business conduct, well-designed products, and strict quality management. 
By the end of 2003, PALIC had 18 service centers, 70 sales offices, nearly 500 staff, more than 6000 registered career agents, and over 200,000 customers. Premium income of PALIC in 2003 totaled more than RMB 600 million, an increase of 36.18% from the previous year, which exceeded the average growth of the Shanghai life insurance market by 16 percent for the same year. This allowed PALIC to seize the leading place amongst foreign life insurers in Shanghai. Meanwhile, since the start of the company, accumulated premium income of PALIC had surpassed RMB 1.3 billion by the end of 2003.