Guoyuan Agricultural Insurance Co., Ltd. (hereinafter referred to as: Guoyuan Agricultural Insurance ) has undergone major personnel changes.
Recently, Guoyuan Agricultural Insurance announced the resignation of its chairman. The company said in the announcement that Cai Wanling had resigned from her position as director, chairman of the board and chairman of the strategy and investment committee of Guoyuan Agricultural Insurance due to retirement at age.
It is worth noting that Cai Wanling has been chairman of the board for only more than a year. Cai Wanling is the third chairman of Guoyuan Agricultural Insurance since its establishment. The first chairman of Guoyuan Agricultural Insurance was Zhang Ziliang, who served for 10 years. In 2018, Wu Tian, the second chairman, was welcomed, and Cai Wanling was the third chairman. The core executives of Guoyuan Agricultural Insurance, which has been operating for 14 years, have rarely changed. However, in the past two years, in the process of rushing towards the goal of listing, there have been frequent changes in senior personnel...
Cai Wanling retired at age,
Wei Lixiang took over
The identity of the new head of Guoyuan Agricultural Insurance has been announced previously.
html On August 8, Guoyuan Agricultural Insurance announced that the party committee of Guoyuan Financial Holdings Group decided to appoint Comrade Wei Lixiang as member and secretary of the party committee of Guoyuan Agricultural Insurance Co., Ltd., and to nominate candidates for director and chairman.Wei Lixiang has rich experience in the investment field. Public information shows that Wei Lixiang was born in January 1971. He is a master's degree candidate and a senior economist. He is currently a member of the Party Committee and deputy general manager of Guoyuan Financial Holdings. He has served as office secretary and deputy office director of Anhui Investment Group Holdings Co., Ltd. Deputy Director of the Financing Office of the China Development Bank of Anhui Investment Group Co., Ltd., and Manager of the Capital Operation Department of Anhui Investment Group Co., Ltd.
Guoyuan Agricultural Insurance stated in the announcement that chairman Cai Wanling retired due to age. Cai Wanling is the third chairman of Guoyuan Agricultural Insurance since its establishment. He has been chairman for only more than a year.
In December 2020, Wu Tian resigned as director, chairman of the board and chairman of the strategy and investment committee of Guoyuan Agricultural Insurance. In the same month, Cai Wanling was elected as the chairman of Guoyuan Agricultural Insurance. In April 2021, Cai Wanling's qualification as chairman of Guoyuan Agricultural Insurance was approved by the China Banking and Insurance Regulatory Commission. According to
public information, Cai Wanling was born in July 1962 and is 60 years old. He is a veteran in the insurance industry. Cai Wanling has worked for PICC for a long time, and has successively served as party committee secretary and general manager of Wuhu Branch of People's Insurance Company of China, assistant to general manager and deputy general manager of PICC Property and Casualty Anhui Branch, and head of the preparatory team of PICC Health Anhui Branch. Personnel, Secretary of the Party Committee, General Manager, General Manager of the Health Education and Training Department of the People's Insurance Company of China.
Just last year, the position of general manager of Guoyuan Agricultural Insurance also changed.
In March 2021, Guoyuan Agricultural Insurance held a meeting of leading cadres and announced that Cheng Bin was appointed as deputy secretary of the Party Committee of Guoyuan Agricultural Insurance and nominated as a candidate for director and general manager of Guoyuan Agricultural Insurance. Yin Yin, the former general manager of who has been in office for more than 13 years, was recommended as the candidate for the chairman of the supervisory board of Guoyuan Agricultural Insurance and no longer holds the position of general manager. In August 2021, Cheng Bin’s qualification as general manager was approved by the China Banking and Insurance Regulatory Commission.
Public information shows that Cheng Bin has served as branch manager of the People's Security Anhui Tongling Branch, deputy general manager of China Life Anhui Tongling Branch, general manager of Ping An Property & Casualty Anhui Tongling Central Branch and Chizhou Central Branch, and Huaan Property Insurance Co., Ltd. Anhui Deputy Secretary of the Party Committee of the branch, Secretary of the Discipline Inspection Commission, Assistant to the General Manager, Assistant to the General Manager of Guoyuan Agricultural Insurance, Vice President of Guoyuan Agricultural Insurance, etc.
Revenue has increased steadily, but
net profit has fluctuated significantly
Guoyuan Agricultural Insurance, established in 2008, has experienced four capital increases, with its registered capital increasing to 2.314 billion yuan, and its shareholders also increased to 30 during the capital increase process. Guoyuan Financial Holding Group holds 18.18% of the shares. It is the largest shareholder of Guoyuan Agricultural Insurance and the actual controller of Guoyuan Agricultural Insurance.
Since its establishment, the premium income of Guoyuan Agricultural Insurance has shown a steady upward trend. Specifically, from 2009 to 2021, Guoyuan Insurance insurance business income was 922 million, 1.26 billion, 1.513 billion, 1.984 billion, 2.3 billion, 2.8 billion, 3.17 billion, 4.1 billion, 4.772 billion, 5.838 billion, respectively. 5.8 billion, 6.777 billion, 8.568 billion.
Although Guoyuan Agricultural Insurance’s premium income increased, its net profit fluctuated significantly.From 2009 to 2021, Guoyuan Insurance’s net profits achieved respectively 24 million, 46 million, 61 million, 80 million, 111 million, 316 million, 437 million, 206 million, 280 million, 85 million, 175 million, 88 million, 278 million 100 million.
Guoyuan Agricultural Insurance's solvency report for the second quarter of 2022 shows that the comprehensive solvency adequacy ratio is 254.12% and the core solvency adequacy ratio is 246.86%. The solvency continues to remain adequate. The latest risk rating is BBB.
6 years of long road to listing
In recent years, Guoyuan Agricultural Insurance has been actively preparing for listing. In December 2021, China Securities Regulatory Commission website shows that the China Securities Regulatory Commission has received the application materials for the "Approval of the Company's Initial Public Offering of Stocks (A SharesShanghai Stock Exchange Main Board and Shenzhen Stock Exchange Main Board, B Shares)" by Guoyuan Agricultural Insurance, and Entering the regulatory acceptance stage.
Guoyuan Agricultural Insurance’s pursuit of listing was not a one-day success. In December 2015, Zhang Ziliang, the first chairman of Guoyuan Agricultural Insurance, proposed at the year-end work meeting that “we must work hard to achieve the listing of Guoyuan Agricultural Insurance, establish a rural life insurance company, prepare to establish asset management company , and establish Guoyuan Agricultural Insurance. The group and other major strategic development goals. "
In 2018, Guoyuan Agricultural Insurance welcomed its second chairman Wu Tian. After Wu Tian took office, he still stated that he would coordinate and promote the listing of Guoyuan Agricultural Insurance.
In July 2019, Guoyuan Agricultural Insurance issued an information disclosure announcement on the employee stock ownership plan. Regarding the shareholding period of the shareholding plan, Guoyuan Agricultural Insurance also stated that if the company does not achieve listing within 6 years, the shareholding period will be 6 years, starting from the date when the company’s shares are registered in the name of the partnership; if the company does not achieve listing within 6 years, After listing, the shareholding period is the time before listing plus 3 years, starting from the date when the company's shares are registered in the name of the partnership.
In October 2020, Guoyuan Agricultural Insurance publicly disclosed that and Hualong Securities , Guoyuan Securities , Rongcheng Accounting Firm, Tongli Law Firm 4 institutions formally signed a listing service cooperation agreement, which also marked the Guoyuan Agricultural Insurance officially launched listing matters.
From the launch of the IPO to the receipt of application materials by the China Securities Regulatory Commission, Guoyuan Agricultural Insurance took one year and nearly two months. However, according to the official website of the China Securities Regulatory Commission, there has been no update on the IPO process since Guoyuan Agricultural Insurance received the regulatory acceptance notice at the end of 2021.
According to the current A-share listing application process, Guoyuan Agricultural Insurance will have to go through communication and feedback from pre-reviewers, then to pre-disclosure updates and preliminary review, and finally pass the issuance review meeting before it can be finally listed.
This article comes from insurance company
