Cai Wanlin was born in Miaoli, Taiwan, 1924. He comes from a peasant family. In the early years, the family was poor, and the family relied on farming to maintain food and clothing. After his brother Cai Wanchun graduated from public school in Zhunan, Taiwan, he urged his family to move to Taipei because of the difficulties in living in the countryside. At that time, Cai Wanlin was only 18 years old. After arriving in Taipei, Cai Wanchun started as a vegetable seller, and later sold rice, soy sauce and groceries. Cai Wanlin had a bad temper all his life and insisted on studying. Later, he graduated from Taipei Industrial and Commercial College. Cai Wanlin studied with his brother and gave him a helping hand. After hard work, Cai Wanchun founded Dawan Commercial Bank with a little capital, mainly dealing in groceries. By the 1960s, Chua's family business had reached a considerable scale, including Dawan Shopping Mall, Dawan Hostel, Dawan Industrial Company, Dawan Industrial Company and the Tenth Credit Cooperative.
Cai Wanlin was the chairman of Wan Yi Trading Company and Dawanyi Chemical Raw Materials Company. And participated in the establishment of Cathay Pacific product insurance company and Cathay Pacific life insurance company, which made the career of Chua brothers develop more rapidly. Later, he participated in the establishment of Cathay Pacific Construction, Cathay Pacific Plastics, international shipping, Guo Ding Plastics and other related enterprises. By the 1970s, he had established Cathay Pacific related enterprise groups and became one of the largest private enterprise groups in Taiwan Province Province. Cai Wanlin has been involved in the decision-making and operation of Chua's Group and played an important role.
Good wind relies on strength to establish "Cathay Pacific products"
Cai Wanlin's prosperity is inseparable from his younger brother Cai Wanchun. Since 1960s, the Kuomintang government has adjusted its policies, and with the support of American aid, the economy of Taiwan Province Province has started to take off. Cai Wanchun founded the Dawan series of industries and accumulated a certain amount of capital, then set foot in department stores, building materials, plastics, construction, insurance and other industries, and began his diversified operation. 1957, Cai Wanchun became the chairman of Shixin, and initiated the "Happy Deposit" savings movement to open a one-yuan account and open it at night, which made Shixin colorful. Cai Wanchun uses the huge funds accumulated by Shixin to further develop finance, insurance and trust industry. Cathay Pacific products, the most important industry of Chua brothers, began to be born.
1960, the "Ministry of Finance" of Taiwan Province Province officially announced that it would consider opening up restrictions on insurers. This is because the establishment of insurers was restricted after the defeat of Kuomintang in Taiwan Province Province. Over the past ten years, industry and commerce have become increasingly developed, and insurance business has also developed one after another. However, due to lack of funds, some businesses can only be insured abroad, which not only requires foreign exchange, but also reduces the income in Taiwan Province Province. 196 1 year, private insurance companies were formally established in Taiwan Province province. At that time, Cai Wanchun of Cathay Pacific was not the "original" founder. After many twists and turns, he got on this open train, and Cathay Pacific began to grow.
At that time, Cai Wanchun could only obtain the license of "Guotai Real Estate" on his own. This license was obtained by Lin Dingli, a famous person in Taiwan Province Province at that time. Because he couldn't raise enough NT$ 20 million at that time, he had to turn to Zhang Xiangchuan, a famous businessman in Taipei (Zhang was the speaker of Taipei's "Parliament" before the restructuring, and entered politics with Lin's help). Unexpectedly, Zhang also showed his lack of financial resources, so he turned to. Cai was the chairman of Dawan Department Store and had sufficient financial resources, so he established Cathay Pacific products. Lin Dingli was a man of the hour in early Taiwan Province Province. He was born in Yunlin County, Taiwan, and later defected to the mainland. He studied in Japan and worked in the gendarmerie after returning home. Lin Dingli took charge of the intelligence work in Shantou and Xiamen after joining the Scout, and met Yan Jiagan, the later vice chairman of the Kuomintang. At that time, Yan Jiagan was the construction director in Fujian (1938), and 1939 was transferred to the finance department. It is said that during the war, Lin Dingli had the kindness to protect Yan Jiagan's life safety, so Yan Jiagan decided to open the private insurance industry (65438+July 0958-65438+February 0963) during the second "Finance Minister" of Taiwan Province, giving special care to Lin Dingli.
In this way, good opportunities and superior "relationships" put the Chua brothers' career on the road. Since then, the development of the Chua family has been flourishing. They attacked in many ways, expanded the scope of career development, and laid the foundation for Cai Wanlin to become the richest man in Taiwan Province in the future. Cai Wanchun used Lin Dingli's relationship to establish and develop Cathay Pacific products. By 1975, Cathay Pacific was "full of weather" and its son had grown up. He performed a performance of "relieving soldiers' worries with a glass of wine" to drive away Lin Dingli, the founder of Cathay Pacific, and let him "retire gloriously", which is another story. However, the Chua family did grow.
Life insurance competition opens up a big situation
Lin Dingli opened the insurance door for Cathay Pacific, and the Chua family business continued to develop. They began to diversify, first of all, Cathay Life Insurance, which is still dazzling today. 1March, 962, Cathay Life made preparations. At that time, Cai Wanchun was the chairman and general manager, and Cai Wanlin was the general manager and deputy general manager. On September 10 of the same year, Guotai Building on Nanyang Street in Taipei was officially opened, and the ribbon was cut by the representative of "Finance Minister" Zhou.
Yan Jiagan was extremely tolerant of the career that Lin Dingli participated in. Up to now, one of the proudest information released by Guotai Min 'an official is that "the first policy of our company was insured by Mr. Yan Jiagan 10 year." 1September, 972, the company sent someone to show the payable to Yan Jiagan, who had been promoted to vice president at that time.
On the occasion of the establishment of Cathay Life Insurance, Taiwan Province Province established the first Heguang, and Cathay Life Insurance was the third. Since then, overseas Chinese, Nanshan, Guohua and Guangxin have been established one after another. At this point, Taiwan Province Provincial Life Insurance is in a fierce competitive situation. At this time, Cai Wanchun and Cai Wanlin used their ingenuity and made bold attacks, which finally made Cathay Pacific catch up and laid the foundation and position of Cathay Pacific in the financial industry. Their business talents have been talked about by Cathay Pacific so far.
The Chua brothers are able to assess the situation and be far-sighted. Taking advantage of the prospect that the land management of the Kuomintang government was not very strict at that time and the land price was promising in the future, they set up liaison offices and established strongholds throughout the province. At that time, because the insurance policy was "in black and white", it was not credible without a strong background. I have been to Japan, and I was deeply impressed to see that the bustling streets are all buildings of financial institutions. Therefore, despite the extreme shortage of funds, they resolutely invested in the construction of the building. At first, 1964 broke ground on chiayi building, and in the following three or four years, buildings were built in major cities such as kaohsiung, taichung, pingtung, changhua, hsinchu and keelung, which received great results. The market share soared from 3 1.6% in 1963 to 42.8% in 1967, which was superior to other industries. This is what Cathay Life has now. Cathay Life Insurance has become one of the pillars of Cai Wanlin Linyuan Relations Group, and now it holds 65% of the shares.