However, shortly after its establishment, the company entrusted the registered capital of 800 million yuan to Delong Securities Company for investment, and the investment failed. Because of this, Eastern Life was ordered to suspend business by the regulatory authorities.
Although it was ordered to suspend business, its insurance license was not cancelled, so in August 2065438+2005, Dongfang Insurance was listed on Chongqing United Assets and Equity Exchange and transferred 50% of its shares, which was later acquired by Evergrande Insurance, thus giving birth to Life Insurance in Evergrande's insurance business.
The second company: Guo Xin Life Insurance, which was disqualified from insurance business, was established in Shanghai in 2003 with a registered capital of 500 million yuan. It took only four months from the establishment to the end, which is a very sad thing.
The reason why the company can survive for such a short time is that there are many illegal operations in the process of business operation, including not only the executives who are rumored by the outside world to abscond with money, but also the registered capital, which is also the most serious.
At present, the registered capital of the company is subscribed, and the shareholders of the company can agree on a time to pay it according to the actual situation. For a company like an insurance company, the registered capital must be paid in, that is to say, when the company is established, the declared registered capital must be credited to the company account.
After the establishment of the company, the registered capital of Guo Xin Life was transferred out in other names. Finally, after investigation by the China Insurance Regulatory Commission, it was confirmed that Guo Xin Life had operational risks, and its insurance business qualification was cancelled.
The third company: Anbang Insurance, and Everyone Insurance took over. Of the three insurance companies, only Anbang Insurance is truly bankrupt. After bankruptcy, Anbang Insurance was placed in the newly established Everyone Insurance, and all the achievements were completed by Everyone Insurance.
Moreover, Anbang Insurance is the latest of the three insurance companies, which was established in 2004, but it is the largest, strongest and most extensive among the three insurance companies. It not only has many business categories, but also has business networks at home and abroad. At the peak, the total assets reached 200 billion yuan.
As a legal person, Wu Xiaohui not only made great strides in the business process, but also had economic problems and eventually stumbled into prison. Anbang insurance has also come to an end.
Insurance can still be purchased, which is guaranteed by law. According to Article 92 of the Insurance Law, if an insurance company engaged in life insurance business is revoked or declared bankrupt according to law, its life insurance contract and liability reserve must be transferred to other insurance companies engaged in life insurance business; If the transfer agreement cannot be reached with other insurance companies, the insurance company engaged in life insurance business designated by the State Council Insurance Regulatory Authority shall accept the transfer, and the insurance company that accepts the transfer shall safeguard the legitimate rights and interests of the insured and beneficiaries.
In other words, insurance companies engaged in life insurance business are not allowed to go bankrupt in a strict sense. Even if it is approved to go bankrupt, another insurance company must make an acquisition and continue its tourism business.
In the property insurance business, it is generally insured once a year. If the insurance period stipulated in the contract is exceeded, the insurance contract will automatically become invalid. Property insurance companies will be taken over by designated relevant institutions in the bankruptcy approval stage, usually for two years. After the takeover expires, all insurance contracts of the company are basically fulfilled. Therefore, in China, as long as you can understand the relevant contents and terms of insurance business and according to your actual needs, you can buy insurance with confidence and boldness.