On September 14, 2020, Anbang Insurance Group announced that Anbang Insurance Group Co., Ltd. held a general meeting of shareholders and resolved to dissolve the company and set up a liquidation group (to be established).
1 Violates commercial practices and threatens the solvency of the company.
2065438+On February 23rd, 2008, the former China Insurance Regulatory Commission issued an announcement. In view of the fact that Anbang Group's business behavior violates the provisions of the Insurance Law and may seriously endanger the company's solvency, it is decided to take over Anbang Group for one year according to the provisions of Article 144 of the Insurance Law. After the institutional reform in the State Council, China Banking Regulatory Commission took over Anbang Group in accordance with the law instead of China Insurance Regulatory Commission, which promoted the risk resolution of Anbang Group. 20 19 On February 22nd, according to Article 146 of the Insurance Law, China Banking Regulatory Commission decided to extend the takeover period of Anbang Group for one year.
Since the China Banking Regulatory Commission took over the implementation, it has promoted risk disposal in an orderly manner according to law and successfully completed various tasks with the joint efforts and support of relevant parties. By the end of June 5438+ 10, 2020, the short-term and medium-term financial insurance of10.5 trillion yuan issued by Anbang Group before the takeover has been fully paid, and no overdue and default events have occurred, and the legitimate rights and interests of insurance consumers and relevant parties have been effectively protected. Basically completed the disposal of non-core financial licenses such as Century Securities, Bangyin Golden Rent and Harmony Health, and Chengdu Rural Commercial Bank has also been listed. The CBRC fully cooperated with the judicial authorities to recover assets, which minimized the losses caused to the company by the illegal and criminal acts of the former chairman of Anbang Group.
2 Resolve the risks of Anbang Group and cancel it according to law.
In order to effectively resolve the risks of Anbang Group, China District of China Banking Regulatory Commission divested the non-litigation assets of Anbang Group, approved the establishment of Anbang Insurance Group, acquired the equity of Anbang Life Insurance Co., Ltd. (hereinafter referred to as Anbang Life Insurance), Anbang Pension Insurance Co., Ltd. and Anbang Asset Management Co., Ltd. according to law, and newly established Anbang Property Insurance Co., Ltd. to undertake the compliance insurance business of Anbang Property Insurance Co., Ltd., and Anbang Group and Anbang Property Insurance will be liquidated and cancelled according to law.
Since the establishment of Renren Insurance Group, the management restructuring and business transformation have achieved remarkable results. The proportion of products with a life insurance period of five years or more has increased to more than 75%, which is significantly improved compared with the debt structure of Anbang Life Insurance, which is mainly short-term products. The long-term business of bancassurance payment has grown from scratch, with a premium income of 5.57 billion yuan in 20 19. The company actively responds to the needs of social old-age security, vigorously explores the business model of old-age care, and carries out pilot projects of old-age care in the core area of the city to provide more humanized and high-quality old-age care services for the elderly close to their children and hospitals in the city.
At present, Renren Insurance Group is actively introducing strategic investors and has basically locked in social investors. China Banking Regulatory Commission and China will promote the private nature of Renren Insurance Group, improve its governance structure, continuously improve its solvency and operating level, strengthen prudential supervision, and promote the sustained and healthy development of the company.
On February 22, 2020, the Insurance Regulatory Commission of the Bank of China issued an announcement. According to the provisions of Article 147 of the Insurance Law, the newly established Renren Insurance Group Co., Ltd. split by Anbang Insurance Group Co., Ltd. has basically been able to operate normally, and the China Banking Regulatory Commission and the China Insurance Regulatory Commission have ended their takeover of Anbang Group according to law.