Founded on 20 18, China National Insurance Life Insurance is in its infancy, with a rapid growth in premium scale and a doubling of investment income year by year. In the first half of this year, Guobao Life achieved a profit. In terms of strategic layout, it is worth noting that Guobao Life Insurance, which is rooted in Sichuan, is cooperating with insurance companies in Sichuan and Chongqing, such as Jintai Property Insurance and Chongqing Three Gorges Life Insurance, to establish strategic alliances and build an insurance industry ecosystem. Experts suggest that companies can strengthen cooperation in sales channels, dual-core information, customer service, pricing data and package insurance to enhance market competitiveness.
Involved in the dispute over equity transfer, CICC Cathay Pacific's stake in Guobao Life Insurance 1.58% was auctioned at a discount.
Recently, on Alibaba's judicial auction platform, CICC Cathay Pacific's stake in China Life Insurance 1.58% will be publicly auctioned on August 23rd. According to the announcement information, the corresponding capital contribution of this equity is 2.371.98 million yuan, and the starting price is set at1.451.80 million yuan, which is nearly 40% lower than the capital contribution and 20731.
According to the announcement, in addition to meeting the relevant regulatory requirements of Articles 4, 6 and 8 of the Measures for the Administration of Equity in Insurance Companies on shareholders' operating conditions, financial conditions and tax records, bidders also need to meet the investment and shareholding conditions of Guobao Life Insurance. In this regard, the relevant person in charge of Guobao Life Insurance said that interested parties need to provide specific information to Guobao Life Insurance for review, including profitability, corporate governance, whether there are related transactions with existing shareholders, custody issues, violations and penalties.
The auction information did not reveal the reason for auctioning the shares of CICC Guotai, but from the disposal unit Tianjin No.2 Intermediate People's Court and the corresponding capital contribution, it pointed to the dispute over the equity transfer between CICC Guotai and CICC Guotai Holding Group Shanghai Supply Chain Management Co., Ltd. (hereinafter referred to as "CICC Guotai Shanghai Company") and Tianjin Gaoxin Bohua Investment Co., Ltd. (hereinafter referred to as "Gaoxin Bohua").
After investigation, in 20 16, Tianjin Rising Sun Trading Co., Ltd., an outsider, signed the Investment Agreement of Tianjin UBS Guotai Supply Chain Management Co., Ltd. with CICC Guotai Shanghai Company and Gao Xin Bohua. The three parties agreed to jointly establish Tianjin UBS with a registered capital of 654.38 billion yuan, and Gao Xin Bohua contributed 20 million yuan. According to the agreement, the investment period of Gao Xin Bohua is 2 years, after which CICC Cathay Pacific Shanghai Company needs to acquire the equity of Gao Xin Bohua for 23 million yuan. However, two years later, CIC Cathay Pacific Shanghai Company failed to repurchase as agreed, and CIC Cathay Pacific assumed joint and several liability.
The court finally ruled that CIC Cathay Pacific Shanghai Branch repurchased the shares held by Gao Xin Bohua, and CIC Cathay Pacific and another natural person assumed the responsibility for payment. According to the lawsuit filed by Gao Xin Bohua, all parties of CICC Cathay Pacific are required to pay the principal and interest of RMB237,654,380+0.98 million, which is consistent with the equity contribution of 65,438+0.58% of Guobao Life Insurance.
Blue Whale Insurance notes that CICC Cathay Pacific * * * holds 202.5 million shares of China Life Insurance, accounting for 65,438+03.5%, and is the second largest shareholder of China Life Insurance together with Chengdu Advanced Manufacturing Investment Co., Ltd.. At present, its shares in Guobao Life Insurance are being pledged and frozen.
According to Tianyancha information, 654.38+79 billion shares were pledged to Beijing Evergrande Yewei Investment Consulting Co., Ltd. on August 3, 2065.438+2009.
It is worth mentioning that, except for 13.5% equity held by CICC Cathay Pacific, 27% equity held by three shareholders of Guobao Life Insurance has been pledged or frozen. total amount
However, hidden worries have emerged. According to public information, from 2065438 to April 2009, Sichuan Xiongfei Group pledged 65438+500 million shares of Guobao Life Insurance to Sichuan Trust. At the end of 2020, the equity price of Guobao Life Insurance 10% was 375 million yuan, which was listed and sold on the Southwest United Assets and Equity Exchange. According to media reports at that time, the transferor of the equity was Sichuan Xiongfei Group, and the purpose of selling the equity was to concentrate on the main business of real estate, divest the assets outside the main business, and withdraw funds to repay the trust debts owed to Sichuan. But later, all the listed items were deleted.
Regarding the pledge and transfer of equity, Blue Whale Insurance interviewed relevant personnel of Life Insurance Company. As of press time, there was no reply.
At the beginning of performance, we participated in the layout of Sichuan-Chongqing alliance and built an insurance ecosystem.
Established on 20 18, guobao life insurance is the first national life insurance corporate financial institution in Sichuan province led by the Sichuan provincial government. In addition to Sichuan Development (Holding) Co., Ltd. (holding 20%) and Chengdu Advanced Manufacturing Investment Co., Ltd. (holding 13.5%), Guobao Life Insurance also attracted shareholders of seven private enterprises (holding 66.5% in total).
After its establishment, Guobao Life Insurance entered the initial performance period. From 20 18 to 2020, the premium income will reach 328 million yuan,10160,000 yuan and192,500 yuan respectively. In the first half of this year, the total income of Guobao Life Insurance reached 654.38+73.4 billion yuan, approaching the premium scale of last year. With the development of business, the adequacy ratio of core and comprehensive solvency gradually declined, from 18 10.82% at the end of 20 18 to 179.47% at the end of the second quarter of 200218.
In the past three years, the investment income of Guobao Life Insurance has doubled year by year, from 5,665,438+0.3 million yuan in 2065,438+09 to 1.654.38+0.273 million yuan in 2020. In addition, in terms of net profit, under the rules of life insurance companies, Guobao Life was in a state of loss in the first three years, with a loss of about 200 million yuan. However, according to the data of the first half of this year, the net profit was12156,000 yuan.
Up to now, Bao Guo Life has set up central branches in Yibin and Mianyang, Sichuan branch has been listed in Chengdu in June 2020, and Nanchong and Leshan central branches have obtained business licenses.
First of all, according to the data disclosed by the CBRC, in the first half of 20021,
In 2000, the scale of insurance premium in Sichuan Province ranked the seventh in China, with an insurance income of 654.38+03.73 billion yuan, which, together with the insurance premium of 62 billion yuan in Chongqing, was second only to Jiangsu and Guangdong, and the market prospect was considerable.
But there are also some shortcomings. Zhou Xingyun, chairman of Bao Guo Life Insurance, believes that the industrial chain of Sichuan and Chongqing insurance industry is single, such as the lack of insurance technology and actuarial institutions, and the field of insurance asset management is even blank. Based on this, Bao Guo Life intends to establish an insurance asset management company in conjunction with a number of institutions. At the same time, in order to improve the ecological circle, we hope to promote the establishment of local reinsurance companies and attract high-end insurance professionals.
"The insurance institutions in Sichuan and Chongqing jointly build an insurance industry ecosystem, which can help institutions achieve steady development, enjoy and integrate resources, and is more conducive to the protection of the insurance industry. With the support of the government, insurance institutions will help local development in terms of taxation and employment, "Wang, director of the Insurance Research Center of Beijing Technology and Business University, told Blue Whale Insurance.
Li Wenzhong, deputy director of the Insurance Department of capital university of economics and business, added that this kind of strategic alliance formed between peers is conditional from the economic point of view, that is, the benefits brought by the alliance are greater than the benefits of their separate operations. "In the face of greater external threats, this condition is easy to achieve and can also stabilize the alliance; Once the external threats are eliminated, institutions can independently obtain better benefits when the market develops, and the alliance will tend to disintegrate. "
However, the problem of horizontal competition can not be ignored. Wang believes that market competition is inevitable, but the alliance will help to form orderly competition in the market, and it can compete with large insurance companies in the market and enhance market competitiveness. In terms of coordination and cooperation, we can cooperate in joint bid, cross-selling, product development and investment.
"Strategic alliances are more about reducing costs and enhancing competitiveness, thus promoting the expansion of business scale and the promotion of market share". As for the specific direction of alliance cooperation, Li Wenzhong suggested that companies can strengthen cooperation from * * sharing sales channels, * * sharing dual-core information (such as anti-insurance fraud), * * sharing customer service, * * sharing pricing data, providing a package of insurance and so on, so as to enhance their respective market competitiveness.
It is understood that the insurance legal institutions of the two places will cooperate in seven aspects: business cooperation, product development, insurance fund utilization, equity cooperation and background construction. As a step of implementation, in April this year, Zhou Xingyun revealed that Bao Guo Life Insurance and Three Gorges Life Insurance are planning to set up different institutions.
This article comes from Blue Whale Finance
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