On August 29th, 2020, the official WeChat of Renren Insurance Group announced that Renren Insurance Group welcomed four new members, namely: Renren Property Insurance Co., Ltd. (hereinafter referred to as Renren Property Insurance), Renren Life Insurance Co., Ltd. (hereinafter referred to as Renren Life Insurance), Renren Pension Insurance Co., Ltd. (hereinafter referred to as Renren Pension Insurance) and Renren Asset Management Co., Ltd. (hereinafter referred to as Renren Asset Management).
With the approval of China Banking Regulatory Commission, China People's Insurance Group acquired 30.785 billion shares of Anbang Life Insurance Co., Ltd. (hereinafter referred to as Anbang Life Insurance), accounting for 99.984% of the total share capital of Anbang Life Insurance. After the completion of the transfer, Anbang Life Insurance was renamed as Renren Life Insurance Co., Ltd. (hereinafter referred to as Renren Life Insurance).
Then Anbang Pension Insurance Co., Ltd. (hereinafter referred to as Anbang Pension) under Renren Life Insurance will be renamed as Renren Pension Insurance Co., Ltd. (hereinafter referred to as Renren Pension), and Anbang Asset Management Co., Ltd. (hereinafter referred to as Anbang Asset Management) will be renamed as Renren Asset Management Co., Ltd. (hereinafter referred to as Renren Asset Management).
Renren Insurance also stated that the renaming of Anbang Life Insurance, Anbang Pension and Anbang Asset Management will not lead to the change of the legal subject of the company, and the relevant rights and obligations agreed in various contracts and cooperation agreements signed will not change due to the change of the company name, and the legitimate rights and interests of insurance consumers will be effectively protected.
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