129773984732656250_5Wan Tao Chinese joint restructuring process up. On March 23, notice of China insurance regulatory Commission Web site approval, agreed that China United property insurance (hereinafter referred to as "Chinese joint") change the registered capital is RMB 7.5 billion. Just a week ago in the 16th, consent of the China insurance regulatory Commission has just approved China United insurance holding company capital increase to $ 7.5 billion. Reply shows thatChinese insurance fund limited liability company (hereinafter referred to as "insurance fund") has a single Chinese combined capital increase of 6 billion yuan, after the injection is complete, 6.86 billion insurance fund a total of China United Holdings Company share, 91.4858% per cent of the total share capital of the company
tera gold, the number of shares held by other shareholders will remain unchanged. It is worth mentioning that, since the end of last year, about ChinaEquity transfer and change of registered capital of the joint reply of China insurance regulatory Commission on the site one after another published a series of "actions" indicates Chinese joint restructuring process up. Prior to this, this newspaper has scoop Oriental assets management company (hereinafter referred to as "Oriental asset") would acquire China United (see this newspaper reported on May 27, 2011 to the coveted double licence insurance EastJoint assets in relation to China). On March 26, a China United insider said, after insurance fund $ 6 billion capital injection, wants to spend about $ 8 billion of assets acquired in the East China United shares. AMC also said a strategy of the joint is the acquisition of Chinese assets in the East, Oriental assets may transition into the future to insuranceFinancial institutions. Proposed injection of 8 billion took the corresponding shareholders ' rights in the East. In December last year, took over the Chinese joint stock insurance fund about 860 million shares, shareholding amounted to 57.4288%. Among them, former top two shareholders ' investment company Xinjiang production and construction Corps and Corps stake and $ 44.9956%, respectively, down to 5.8% and 10%。 In March of this year, officially to China United insurance fund capital increase of 6 billion yuan. A China United insider said, "6 billion Fund is the final process, basic, has been recorded. "In fact, the serious shortage of solvency, term limits the all-Union branch of business. According to the provisions of the Insurance Act,Casualty Company retained premiums that year shall not exceed the sum of capital plus Provident Fund four times. China United before the capital increase registered capital of $ 1.5 billion, to calculating 2010 premium income of 19.336 billion yuan, need to increase capital to at least $ 5 billion. "The original capital, we do up to 6 billion worth of premiums. China insurance regulatory Commission to support or special limitedThe system. Once you resolve financial issues, jiuhe rules right away. "The foregoing persons," said the Fund after the $ 6 billion capital, China United insurance premium scale can do 30 billion yuan. Company targets for annual premiums of $ 23 billion this year. "Yearbook of insurance data show that in 2010, China combined with a total net profit of 874 million dollars, compared with 2009Annual increase of 1.806 billion yuan. "As the property casualty industry since last year to the good performance, and the impact of adjustment factors of accounting standards, China United in the past two years are also good profits. "Previously mentioned China United said," this year's net profit of about 2 billion. "Is worthy of note, insurance Yearbook data shows that due to serious losses, China United at the end of 2009 all-$ 12.891 billion interest. With nearly 2.9 billion net profit in 2010 and 2011, as well as the insurance fund $ 6 billion capital injection, China United still have a gap of about $ 4 billion of net assets. Foregoing China United said, "8 billion of assets to account to the East, capital and solvency completely full. "As a result of past-Extensive institutions expanded too fast operating mode, operating costs were high
tera power leveling, and many other reasons, since its 2007 recorded a huge loss, insufficient solvency of China United long-term, capital restructuring of the road wasn't working very well. In early 2009, is the eve of China insurance regulatory Commission stationed in China United, China United was counting on the introduction of foreign investment to restructure, butBall end without the financial crisis. In May 2011, with the approval of the China insurance regulatory Commission, insurance guarantee fund and equity managed in Xinjiang production and construction Corps Commission officially signed agreements, joint insurance fund entrusted with the management of Chinese insurance most of the shares, asset insurance strategy of the East, in the East, four such as integration with China Great Wall asset management Corporation (AMC) in completeAfter the assets of commercial banks, transition to a large financial holding Group since 2006, is one of the indispensable financial licence insurance licence. Cedar, for example, in October 2007, and founded 15 companies such as travel in groups and holding the first AMC insurance company--a happy life. In August 2009, has established aCasualty, stake up to 51%. In addition, in October 2009, the great wall from Shanghai guangdian group asset management company to buy radio and television 50% stake in daily life, and renamed it long life life. Oriental asset, insurance business licence has always been its financial platform in a shorter Board. In relation to China before the joint casualty, although East was involved in the establishment ofA century of life, but only its stake to 9.01% and tied for first place in the remaining 8 shareholders shareholder, did not gain control. As one of the four AMC, compared to up to blend in with the China, bad assets management of the main industry was not prominent in the East. In the previously mentioned AMC people, assets or wish to borrow to buy Chinese joint in the East to realize its strategic transformation, which turned into an insurancePrimary financial institution. However, China United Branch said, "business is not as optimistic as imagined, done easily. "In fact, Oriental asset, took pains to buy China United, despite its promising market position, its insurance group structure, that is, assets not only in the East took a casualty cardAccording to, you can also mention a life insurance licence taken in the bag. As early as June 2006, approved by the China insurance regulatory Commission agreed with China United "one to three" reform programme as a whole
tera power leveling, that is, the original China United property casualty total was transformed into "China United insurance holding company", and United PICC and China United holdings consists of Chinese life two independent corporate subsidiaries. Because 20China 09 joint property investment and restructuring fails, only when directly managed by the China insurance regulatory Commission and China combined China initiated the establishment of the joint life insurance company has not been able to take place, yet is only a "short licence". However, sources close to the China United, at present, the company is considering applying for the establishment of a life insurance company, "once the restructuring is completed you can promote. "The foregoing China United saidAnd control of the asset acquisition of Chinese joint in the East is at. Oriental people have also said that insurance licence for East is "determined to have".
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