The first wholly foreign-owned insurance asset management company was approved.
65438+1On October 27th, China Banking Regulatory Commission issued the Reply on the Establishment of Allianz Insurance Asset Management Co., Ltd., and agreed that Allianz (China) Insurance Holdings Co., Ltd. should establish Allianz Insurance Asset Management Co., Ltd. (hereinafter referred to as Allianz Insurance Asset Management) with a registered capital of 6,543.8 billion yuan and its registered place in Beijing.
The new chairman of Allianz Insurance Asset Management Company is Chen Liang. He is the deputy general manager of Allianz China Insurance Holding Company and the general manager of Sino-German Allianz Life Insurance. Chen Liang has more than 20 years of experience in insurance management. On March 20 10, he joined Sino-German Allianz Life Insurance and became the general manager on June 20 12. At the same time, the proposed general manager of Allianz Insurance Asset Management is Zhen Qingzhe. According to public information, Zhen Qingzhe is an actuary. She once served as the general manager of Sino-Italian Asset Management Co., Ltd. and was an excellent female investment officer.
According to the CBRC, Allianz (China) Insurance Holdings Co., Ltd. set up a preparatory group to be responsible for the specific preparatory work of Allianz's insurance asset management. The preparatory group shall complete the preparatory work within 6 months from the date of receiving the approval documents, and shall not engage in any business activities during the preparatory period. Without approval, the investor, the proposed chairman and the proposed general manager shall not be changed. In the future, after the preparatory work is completed, Allianz Insurance Asset Management Company will apply to China Banking Regulatory Commission for opening in accordance with relevant regulations and procedures.
It is understood that Allianz Insurance Asset Management Co., Ltd. is the first wholly foreign-owned insurance asset management company approved to be established in China after China and Europe signed a comprehensive investment agreement on June 30, 2020, and it is also the first wholly foreign-owned insurance asset management company approved to be established in the industry. According to industry insiders, the approval of Allianz Insurance Asset Management benefited from a series of policies of China to open wider to the outside world and encourage foreign insurance companies to increase investment in China, which is a positive result of the further opening up of China's financial industry.
Allianz Group said that the establishment of Allianz Insurance Asset Management Company is an important strategic move for Allianz Group to enter the asset management market in China on the platform of Allianz China Insurance Holdings, which shows its firm confidence and long-term commitment to the China market. As an important step for Allianz China Insurance Holdings to start its strategic layout in China, Allianz will carry out preparatory work in strict accordance with relevant laws and regulations of China.
The company also said that in the future, Allianz Insurance Asset Management will build a professional local investment management team based on the advantages of Allianz Group's global investment platform and century-old experience in international financial risk management, adhering to Allianz Group's long-term and stable investment style in the field of asset management, and better serving the global asset management needs of domestic and foreign customers.
Allianz, one of the largest insurance groups in the world, promotes its business in China.
According to the survey data, Allianz (China) Insurance Holdings Co., Ltd., the shareholder of Allianz Insurance Asset Management, was established on 201165438+1October 28th with a registered capital of RMB 2718 million, and its shareholder is Allianz Insurance Group, a foreign-funded institution. Allianz China Insurance Holdings Co., Ltd. is the first wholly foreign-owned insurance holding company in China, which officially opened in Shanghai on June 65438+1October 65438+June 2020. It is understood that Allianz's goal is to integrate all existing insurance entities in China into the holding structure, so as to exert potential synergy and enhance business scope and governance capacity.
It is worth noting that Allianz (China) Insurance Holdings also holds Sino-German Allianz Life Insurance Co., Ltd., which was established in June19981/with a registered capital of RMB 2 billion. Allianz (China) Insurance Holdings holds 5 1% equity and CITIC Trust holds 49% equity. Previously, CITIC Trust listed its 49% stake in Allianz on the Beijing Equity Exchange for sale, and the reserve price of this equity transaction was set at 2.344 billion yuan.
According to the First Financial Report, on the evening of June 26, 654381October this year, the auction of 49% equity of Sino-German Allianz listed by CITIC Trust has ended, and Allianz China Holdings is the only bidder. If all goes well in the future, Sino-German Allianz Life Insurance is expected to become another wholly foreign-owned life insurance company in China.
Let's take a look at Allianz Group, one of the largest insurance and asset management groups in the world. 1890 was founded in Berlin, Germany, and 130 has a long history and its headquarters is in Munich, Germany. In 2020, Allianz Insurance Group ranked 46th among the top 500 enterprises in the world.
Why can Allianz Insurance win the license of a wholly-owned insurance asset management company? According to industry insiders, independent insurance asset management companies can gather excellent professional investment management talents, which is conducive to risk decentralized control and the preservation and appreciation of insurance funds, and is conducive to insurance companies to improve the efficiency of capital investment.
It is expected that there will be more wholly-owned and joint venture insurance asset management companies in the future.
Since the establishment of China PICC Asset Management Co., Ltd., the first insurance asset management company in China in 2003, the insurance asset management industry in China has gone through more than ten years of development.
According to the Comprehensive Survey Data of Insurance Asset Management Industry from 2019 to 2020 provided by China Insurance Asset Management Association, as of 20 19 12 3 1, the total assets managed by the insurance asset management industry reached18.1. Management fee income was 25.3 billion yuan, a year-on-year increase of 37.27%; There are 35 insurance asset management institutions, 4 more than 20 18, including 26 insurance asset management companies, 6 professional insurance asset management institutions and 3 endowment insurance companies with insurance asset management capabilities.
In recent years, insurance asset management companies have become an important force in China's financial market. It has advantages in asset allocation, long-term fund management and fixed income investment, and its style is relatively stable. At the same time, it also actively develops equity investment and actively invests in the A-share market.
At present, a number of joint venture insurance asset management companies have been approved to start business, including ICBC AXA Asset Management, Bank of Communications Kanglian Asset Management, CITIC Prudential Asset Management and China Merchants Cigna Asset Management. Following Allianz Insurance Asset Management, with the further opening of China's financial industry in the future, it is believed that more joint-venture and wholly-owned insurance asset management companies will be born.