28569 - CACIC

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Summary of Proposed Investment

Project Number

28569

Company Name

Ancheng Property & Casualty Insurance Co., Ltd.

Date SPI Disclosed

Jul 1, 2010

Country

China

Industry

Financial Markets

Projected Board Date

Aug 5, 2010

Status

Completed

Sector

General Insurance (Non-Life)

Department

Global Industry, Financial Markets

Environmental Category

C - No Impact

Previous Events

Approved : Aug 5, 2010
Signed : Dec 15, 2010
Invested : Apr 20, 2012

Project Description

Equity investment in Ancheng Property & Casualty Insurance Co., Ltd. (“Ancheng” or the “Company”) (the “Project”). Ancheng, headquartered in Chongqing, is one domestic property and casualty (“P&C”) insurance companies based in western China. The Project will help Ancheng grow its insurance business and expand its national footprint, and also support the Company’s efforts to further develop its agricultural insurance products. Ancheng was established in 2007. Since its inception, Ancheng has expanded from its Chongqing base to 11 provinces in China. The Company currently provides a range of P&C insurance products, including damage, liability, credit, guarantee, agriculture (such insurance is mainly provided to small and individual farmers), short-term health, and accident insurance.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	41.33

Development Impact

Increased non-life insurance penetration in China, particularly in the country’s frontier areas; Increased financial sector development in western China and increased access to financial services; Greater access to risk-mitigation solutions/services at the corporate and individual levels, in particular for farmers and rural/frontier area residents, in the form of agricultural and other insurance products; and Creation of jobs and other economic benefits as a direct result of Ancheng’s business expansion.

This project entails IFC investment in an insurance company with predominantly property and casualty insurance businesses and has been classified as a Category C project according to IFC’s Environmental and Social Review Procedure. The Company will be required to apply IFC FI Exclusion List in its corporate or business underwriting to avoid providing policy coverage for activities or products that are in violation of the Exclusion List. The Company is also required to apply the labor standards established by the IFC Performance Standard 2: Labor and Working Conditions (PS2) in its own labor practices. The Company will be required to inform IFC in the event of any significant changes in the nature or scope of its businesses or operations.

Contacts

For Inquiries About the Project, Contact

Ancheng Property & Casualty Insurance Co., Ltd. No. 128 Zhongshan San Road Yu Zhong District, Chongqing 400015, P.R. China Tel: +86 (23) 63855101 Web: http://www.e-acic.com Email: luozhijun168@163.com

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

IFC Resident Mission in People’s Republic of China 1501, China World Tower 2 No. 1, Jian Guo Men Wai Ave. Beijing 100004, P.R. China Tel: +86 (10) 5860-3000 Fax: +86 (10) 5860-3100 Web: www.ifc.org

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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