Times Weekly reporter Hu Qiushi Posted from Shanghai
A few days ago, the China Insurance Regulatory Commission officially approved the application for opening of Hotai Life Insurance Co., Ltd. (hereinafter referred to as "Hotai Life"). Public information shows that Hetai Life Insurance is registered in Jinan, with a registered capital of RMB 1.5 billion, and was jointly initiated and established by eight companies. According to
data, CITIC Guoan , Beijing Easyhome, and Shenzhen Golden Century Engineering Industry invested 300 million yuan each, holding 20% of the shares, and are tied for the largest shareholders. As the second largest shareholder, Beijing Yingke Bicheng invested 225 million yuan and held a 15% shareholding ratio.
Times Weekly reporter found that although Hetai Life Insurance is registered in Shandong, only a small shareholder of Qinhuangdao Real Estate among the eight shareholders is from Shandong. Among the shareholders, CITIC Guoan and Beijing Yingke Bicheng are "promising". Among them, CITIC Guoan is a wholly-owned subsidiary of CITIC Guoan Group, which has three listed subsidiaries. And Beijing Yingke will become a wholly-owned subsidiary of Tencent .
It is understood that CITIC Guoan has a large asset scale, but its financial license is limited. It only has CITIC Guoan Fund, CITIC Guoan Innovation Fund, etc. However, CITIC Guoan has also publicly stated that it will get involved in securities, insurance and other industries; Tencent, as a domestic Internet giant, has previously Participated in the establishment of Zhongan Insurance , the first domestic Internet property and casualty insurance company. Similar to Hotai Life Insurance, it is also the second largest shareholder.
In addition, some media reports stated that Hotai Life is "the first Internet life insurance company in China" and that "Hotai Life has formulated an Internet insurance strategic plan internally." However, there is no " Internet" and other keywords.
Times Weekly reporter called CITIC Guoan, but the other party said it was unclear and inconvenient to answer, and did not give a positive reply.
A senior insurance industry person told a reporter from Times Weekly that if the announcement is followed, Hetai Life should not be able to engage in Internet insurance products, but it is still common for insurance products to be sold on Internet channels. Due to the approval of the insurance license, the local Insurance Regulatory Bureau also needs to give an opinion. The company is registered in Shandong, and perhaps the company's management is more familiar with it in Shandong.
8 shareholders
html On November 20, the China Insurance Regulatory Commission issued an announcement approving the opening of Hotai Life. The announcement mentioned that Hotai Life’s legal representative is Liu Xin; the company’s business scope includes: general insurance, health insurance , and accidental injury Insurance, participating insurance , universal insurance, etc.; the company will start business in Shandong Province within two years after its opening. Two years later, based on the company's management level, business development status and talent reserve, it will gradually set up branches outside Shandong Province. According todata, eight shareholders participated in the establishment of Hetai Life Insurance, including CITIC Guoan Co., Ltd., Beijing Juranzhijia Investment Holding Group Co., Ltd., and Shenzhen Golden Century Engineering Industry, which invested 300 million yuan and held a 20% shareholding ratio. Beijing Yingke As the second largest shareholder, Bicheng Technology invested 225 million yuan and held a shareholding ratio of 15%. The third largest shareholder, Luanchuan County Jinxing Mining Co., Ltd., invested 210 million yuan. The other three sponsors of
, Qinhuangdao Yuming Real Estate Group Co., Ltd., Shenzhen Hefengtai Optoelectronic Display Co., Ltd. and Shenzhen Mingxiang Investment Co., Ltd. invested 75 million yuan, 45 million yuan, and 45 million yuan respectively.
It is worth mentioning that among the eight shareholders, CITIC Guoan Co., Ltd. has a registered capital of 1.447 billion yuan and is a wholly-owned subsidiary of CITIC Guoan Group. CITIC Guoan Group is a subsidiary of China CITIC Group with a registered capital of 7.6 billion yuan.
In April 1987, CITIC Group invested 1.5 million yuan to establish Beijing Guoan Hotel, which was the predecessor of CITIC Guoan. In 2014, five private companies were introduced during the restructuring. CITIC Group’s shareholding dropped to 20.9%, but it is still the largest shareholder; the other five shareholders are Heilongjiang Dingshang Investment, Beijing Heshengyuan Investment, Gonghe Holdings, and Realtek Shanghai Equity Investment, Tianjin Wanshun Real Estate.
The well-known Chinese Super League team Beijing Guoan owned by the company is the football club owned by CITIC Guoan.Guoan Company's business operations involve information industry-related businesses, tourism real estate, high-tech and resource development and other fields. It is one of CITIC's largest industrial subsidiaries in the country. It is currently a member enterprise of the Asia-Pacific Economic Cooperation (APEC) Chinese Enterprises Joint Conference, a member enterprise of the China Enterprise Confederation and the China Entrepreneurs Association.
Beijing Yingke Bicheng Technology is a wholly-owned subsidiary of Tencent, with a registered capital of 216.5 million yuan and was established in June 2002. As we all know, Tencent has a lot of industrial tentacles involved, and its participation in the establishment of Hetai Life Insurance is not the first time it has been involved in the insurance industry.
Times Weekly reporter found that Hetai Life Insurance’s registered address is Jinan City, and its business scope is limited to Shandong Province. However, among the eight companies involved in the establishment, the three companies that are tied for the largest shareholder and Tencent, which is the second largest shareholder, are not Shandong enterprise; Qinhuangdao Yuming Real Estate, which only invested 75 million yuan, came from Shandong. Among the remaining shareholders of
, Beijing Juranzhijia Investment Holdings, with a registered capital of 81 million yuan, was established in March 1999. It is a state-owned enterprise restructured; Shenzhen Golden Century Engineering Industry, with a registered capital of 240 million yuan, was established in 1994. There are three shareholders Shenzhen Dasenyuan Investment, Wu Qiusen, and Shenzhen Daisenpu Investment hold 50%, 41.04%, and 8.96% of the shares respectively. Shenzhen Hefengtai Optoelectronics has a registered capital of 80 million yuan and was established in 2008. The major shareholder is Chen Chanjuan, with a shareholding ratio of 89%; Shenzhen Mingxiang Investment has a registered capital of 150 million yuan and was established in 2003. The shareholders are Lin Jianhua, Lin Jianli and Lin Jianjia.
In addition, Luanchuan County Jinxing Mining, with a registered capital of 60 million yuan, was established in 2003. It is a wholly-owned subsidiary of Hong Kong Tengrui Mining Investment. It is a foreign-funded enterprise engaged in heavy metal mineral development in Luoyang, Henan.
Qinhuangdao Yuming Real Estate, with a registered capital of 30 million yuan, was established in 2000. The shareholders are four natural persons. The major shareholder Liu Qingyin holds 51% of the shares and is engaged in real estate project development in Shandong.
CITIC Guoan’s financial layout
According to media reports, according to Hotai Life’s strategic positioning, it will be an innovative, asset-light Internet insurance company. ZhongAn, which is currently open, and Yi'an, Anxin, and Taikang online that have been raised are all Internet property and casualty insurance companies. If Hotai Life is approved, it may become the first Internet life insurance company in China. Related reports from
also show that Hotai Life Insurance has internally formulated an Internet insurance strategic plan. The core points include: Internet-based products and sales business models, and mutually beneficial pricing interactions; Internet-based, automated, simplified, and intelligent services and operation management; Big data dynamic pricing and personalized services; explore Internet scenario insurance.
However, reporters from Times Weekly checked the relevant announcements of the China Insurance Regulatory Commission and found that there were no keywords such as "Internet" in the "Business Scope" column; and as the first Internet property insurance company in China, Zhongan Insurance's industrial and commercial materials and approval announcements were clearly marked. Internet keywords.
Public information shows that Hotai Life’s business scope is “general insurance, including life insurance and annuity insurance; health insurance; accident insurance; participating insurance; universal insurance, etc.…”. Zhongan Insurance’s business scope is “business/household property insurance, freight insurance… directly related to Internet transactions.”
As we all know, Tencent, as the second largest shareholder of Hetai Life Insurance, participated in the establishment of Zhongan Insurance as early as 2013. Among the nine major shareholders of Zhongan Online Property Insurance, there are also Ant Financial , Ping An of China , Ctrip, etc. enterprise.
is the first Internet property and casualty insurance company in China, and its operations have also attracted much attention. Data show that Zhongan Insurance's performance in 2016 was not optimistic, with a huge loss at the beginning of the year; the net profits in the four quarters were -382 million yuan, 19 million yuan, 162 million yuan, and 240 million yuan respectively, and the full-year net profit was 39 million yuan. In the first three years, the net profit loss was 30 million yuan in 2013, the company turned around to achieve a net profit of 27 million yuan in 2014, and achieved a net profit of 168 million yuan in 2015.
The aforementioned insurance industry insiders told Times Weekly reporters that there are currently only four domestic Internet insurance companies, namely Zhongan Insurance, Anxin Online, Taikang Online, and Yian Online; other insurance companies can also carry out Internet insurance business, as long as " "Internet Insurance Management Measures" to report corresponding products and disclose them.Almost all of the more than 100 insurance companies now carry out Internet insurance business.
As the major shareholder of Hotai Life Insurance, CITIC Guoan has long had ambitions in the financial field; however, its financial licenses are limited. At present, CITIC Guoan’s financial businesses include the establishment of CITIC Guoan Capital, CITIC Guoan Fund, CITIC Guoan (Innovation Fund), and participation in China-Africa CNCBI Investment; China-Africa CNCBI Investment is jointly owned by Guoan Group, China-Africa Development Fund, etc. The equity investment fund management company initiated and established has a registered capital of RMB 200 million and a current management scale of nearly RMB 10 billion. Participating projects are spread across Asia, Africa and South America.
CITIC Guoan made it clear that in the future, it will also establish financial companies, insurance companies, and securities companies to carry out securities investment and capital operations.
The content on this website (including but not limited to text, pictures, audio and video), except for reprinting, is the copyright of Times Online. Reproduction, linking, reposting or other use is prohibited without written authorization. Anyone who violates the above statement will be held accountable by this website for relevant legal liability. If other media, websites or individuals reprint and use it, please contact Mr. Ding of this website: [email protected]
