Since the establishment of 19, the premium scale of Xinhua Life Insurance has been increasing, reaching109.9 billion yuan in 20 14 years, ranking among the top three in the life insurance industry for five consecutive years.
A wonderful chess game is being settled, arranged and finished in an orderly way.
The registered capital is 500 million yuan -3 1 100 million yuan, the premium scale is10.40 billion yuan-199 million yuan, and the total assets exceed 600 billion yuan. The sonorous figures have played the beautiful notes that Xinhua Life has been constantly refreshing and surpassing itself since the establishment of 1996.
19 is enough to make an enterprise undergo earth-shaking changes. However, it is not easy to maintain a steady growth in performance and persistently run in the "marathon" arena.
When the reporter of Investment Times combed the big data of premium income of Xinhua Life Insurance over the years, it was found that since the China Insurance Regulatory Commission began to disclose the premium income of various insurance companies in 2004, the income premium of Xinhua Life Insurance in that year was 65.438+08.748 billion yuan, ranking fifth in the life insurance market; Since then, its annual premium income has been growing, with an average annual growth rate of more than 20%. Especially in 2008, the premium scale exceeded 50 billion yuan to 55.683 billion yuan, a year-on-year increase of 70.77%. In 20 10, its premium income surged by 40.22% again, reaching 93.643 billion yuan, surpassing Pacific Insurance for the first time, ranking among the top three in the life insurance market and becoming the third largest life insurance company in China.
20 1 1 year is a watershed in the development of insurance industry in China. The economic situation is complicated. The growth rate of the insurance industry, which has made great strides for ten years, has begun to slow down, with negative growth in premiums for the first time and the number of employees in trouble. However, relying on the successful listing of "A+H" shares in that year, Xinhua Life Insurance strengthened its capital strength and stood at a new starting point of strategic transformation.
Concentration is the creed it has always adhered to. Xinhua Life clearly knows that the choice of strategy is often not about what to do, and sometimes it is more important to "not do anything". The sharp turn is not in line with the company's development reality, so the company decided to continue to focus on life insurance and its related industries, emphasizing the "customer-centric" strategy.
Xinhua Life began to try to conduct in-depth research on customers, mine massive customer data, and initially form customer segmentation. In 20 12, we will gradually implement differentiated customer strategies, apply and match them to the corresponding products, services, channels, sales teams and regional markets, sort out the whole value chain from back office to front office, from operation, it, product development to front-end sales, and gradually realize the transformation of the company from channel demand-driven to customer demand-driven
From "Farewell to Baidi" to "Crossing Chung Shan Man", the pain of transformation is inevitable, but it has not slowed down the pace of Xinhua Life's embrace of change. Through a series of measures, such as adjusting the business structure, strengthening the construction of the bancassurance team, and taking the lead in launching market-oriented products in the industry, the downward trend was reversed, and Xinhua Life returned to the upward channel strongly.
The corresponding embodiment of the conversion results in performance soon becomes obvious. In 20 13 years, the premium income of Xinhua Life Insurance exceeded 1000 billion yuan, an increase of 6.06%, and the growth rate was improved; The net profit attributable to shareholders was 4.422 billion yuan, a substantial increase of 50.8%.
In 20 14, the product structure, team ability, customer base and system construction of Xinhua life insurance continued to improve, and the company's performance maintained steady growth. Annual premium income109.868 billion yuan, up 6%, accounting for 8.66% of the life insurance market, ranking in the top three in the life insurance market for five consecutive years; Total assets were 643.709 billion yuan, up13.8% year-on-year; The net profit attributable to shareholders was 6.406 billion yuan, a year-on-year increase of 44.9%; The solvency adequacy ratio was 226.53% at the end of 2065438 and 069.66% at the end of 2003, which was the highest in the past years.
At the same time, the company's product structure was significantly optimized, and the health insurance premiums of individual insurance and service operation channels increased by more than 85% compared with the same period of last year, driving the proportion of traditional insurance in both channels to reach more than half. Thanks to the market-oriented products such as Xinbao and Huifubao, the proportion of premiums paid in five-year and above periods of the Yindai channel also increased by 7 percentage points over the previous year.
It is worth mentioning that it was selected as one of the world's top 500 enterprises for the first time in 20 14, which indicates that the company's overall strength, business scale, market position and brand influence have all reached a new level.
In the first half of 20 15, Xinhua Life Insurance realized premium income of 72,654.38 billion yuan, up 9% year-on-year. In addition to the steady development of insurance business, benefiting from the bull market of A shares, the company's investment income increased substantially, with a year-on-year growth of 1 10.5% only in the first quarter, which made the profit growth rate far exceed expectations. According to the company's preliminary calculation, the net profit attributable to shareholders will increase by about 80% in the middle of 20 15.
"Although Zhou is an old country, his life is reform." As the life insurance industry ushered in the spring, Xinhua Life's pace of seeking innovation and transformation became more and more firm. Between tradition and change, Xinhua Life will assess the situation and adjust its scale. By optimizing and transforming the traditional model and actively adapting to the needs of market changes, it is expected to open up a broader growth space in the future.
The above is what Bian Xiao shared about who is the cool runner of the life insurance marathon. For more information, you can pay attention to Global Ivy and share more dry goods.