Anbang insurance has been different from other insurance companies since its debut. Anbang Insurance Company was established in 2004. In just over ten years, it has developed from a simple insurance company to a trillion-dollar financial giant. Some insiders have pointed out that before this, the domestic life insurance market has always followed the strategy of "debt-driven assets", and the investment has been passively adjusted according to the debtor, so the investment strategy is conservative. Anbang Insurance relies on the new road of "asset-driven liabilities", and through making big investments, it drives the further expansion of total assets and attracts customers' capital flow at the underwriting end, so it is often active or even radical in investment. Whether in China A-share market or in developed countries in Europe and America, Anbang's cross-border mergers and acquisitions will cause great repercussions every time.
The helm of the company is even more legendary. Wu Xiaohui was born in 1966 and 10. He is from Zhouzhai Village, Xiaojiang Town, Pingyang County, Wenzhou City, Zhejiang Province. Unicom Leasing Group Co., Ltd. was established in 1996, and Traveler Automobile Group was established in 1998. These two companies later became the founding shareholders of Anbang Insurance Group. 2013165438+10/9, Hu Maoyuan stepped down as the chairman of anbang insurance group. Before Wu Xiaohui took office, he became the chairman and general manager of Anbang Insurance Group.
During Wu Xiaohui's several years in charge of Anbang Insurance Group, Anbang Insurance Group's financial map has been continuously expanded, and its assets have also achieved geometric growth. At present, Anbang Insurance Group covers life insurance, property insurance, accident insurance, health insurance, pension insurance, banking and asset management, with more than 35 million customers and a service network all over the world. What surprises the industry even more is that in just a few years, the total assets of Anbang Insurance Group have reached 1.97 trillion yuan, while the total assets of China Life Insurance, which has developed for more than 20 years, are 2.6 trillion yuan.
On February 23, 20 18, a heavy news came that Wu Xiaohui, the former chairman and general manager of Anbang Insurance Group Co., Ltd. (hereinafter referred to as Anbang Group), was prosecuted according to law for alleged economic crimes. On February 23rd, China Insurance Regulatory Commission took over Anbang Group in accordance with relevant laws and regulations, with a term of one year, and then extended it for another year.
On May 18 and 10, the Shanghai No.1 Intermediate People's Court publicly pronounced the case of the defendant Wu Xiaohui's fund-raising fraud and duty embezzlement, sentenced Wu Xiaohui to 15 years' imprisonment, deprived of political rights for four years, and confiscated property of RMB 9.5 billion. He was sentenced to 10 years in prison for the crime of duty embezzlement, and his property was confiscated by RMB 654.38+0 billion. He decided to execute 18 years' imprisonment, deprive him of political rights for four years, confiscate his property of RMB 654.38+0.05 billion, and recover his illegal gains and fruits.
After the CBRC took over Anbang Group according to law, it took a number of regulatory measures in asset disposal, business transformation and split and reorganization. From 2065438 to July 2009, the risk management of Anbang Group achieved initial results. With the approval of China Banking Regulatory Commission, Renren Insurance Group was established with the joint contribution of China Insurance Guarantee Fund Co., Ltd., sinopec group and Shanghai Automotive Industry (Group) Corporation, with a registered capital of 20.36 billion yuan, with 98.23%, 1.22% and 0.22% respectively. A new property insurance company was established to undertake the compliance insurance business of Anbang Property Insurance Co., Ltd. Anbang Life Insurance, Anbang Pension and Anbang Asset Management were renamed as Everyone Life Insurance, Everyone Pension and Everyone Asset Management respectively.
So far, the reorganization of Anbang Insurance Group has been basically completed. Next, the company will apply to China Banking Regulatory Commission for dissolution according to laws and regulations, and organize liquidation in time after obtaining relevant administrative permission.
This means that the once all-powerful insurance groups with assets exceeding one trillion have vanished.
Zhou Dewen, Chairman of the Board of Directors of Shanghai Zhonghe Zhengdao Group, believes that the number, scope and amount of Anbang Group involved are unprecedented. With the support of the government, the enterprise redesigned the strategic plan of reorganization. Through the comprehensive application of asset reorganization, business reorganization and debt reorganization, it protected the rights and interests of users and effectively prevented financial risks, which has important reference significance.