Source of this article: Times Finance Author: Xie Yiwen
On June 29, according to the pre-disclosure information of the Beijing Equity Exchange, 100% of the equity of our pension insurance was transferred, involving a total of 3.3 billion shares, and the pre-disclosure started on July 1 and will end on July 26, and the reserve price of the transfer was not announced.
Source: Beijing Equity Exchange
We are a member of the insurance group, which is 99.99% owned by our life insurance and 0.01% by our asset management. The major shareholder of Dajia Insurance Group is the China Insurance Security Fund directly under the Ministry of Finance, holding 98.23% of the shares, which is a state-owned insurance company.
It was reorganized from Anbang Insurance
Formerly known as Anbang Insurance Group, Dajia Insurance Group's holding financial institutions include Anbang Life Insurance, Anbang Property Insurance, Anbang Pension, Harmony Health, Chengdu Rural Commercial Bank and Bangbang Financial Leasing.
In June 2019, Dajia Insurance Group established and undertook Anbang's original insurance business, with the China Insurance Security Fund directly under the Ministry of Finance holding 98.23% of the shares, and also introducing strategic investors Shanghai Automotive Industry Group (1.22% of the shares) and China Petroleum & Chemical Corporation (0.55% of the shares).
After the reorganization, the company has not announced its financial reports for many years because it is in the risk disposal period.
At present, we hold a total of 6 insurance subsidiaries under Dajia Insurance Group, in addition to Dajia Pension Insurance and Dajia Asset Management, we also hold Dajia Life Insurance, Dajia Property Insurance, Harmony Insurance Sales Company, and Beijing Bangye Insurance Adjuster Company. Except for Beijing Bangye, which holds 99.90% of the shares, the others are 100% controlled.
He Xiaofeng, the chairman of Dajia Insurance Group and Dajia Pension Insurance, served as the leader of the takeover working group of Anbang Insurance Group sent by the former China Banking and Insurance Regulatory Commission, and many directors of the group have served in the China Insurance Security Fund.
For the equity listing, the Times Financial reporter called the insurance group, and the other party said that the listing is true, for the company's normal business decisions, the existing policies and customer rights and interests will not be affected, and the follow-up equity transaction information is subject to the disclosure of the Beijing Stock Exchange (that is, the Beijing Equity Exchange).
An internal staff member of Dajia Insurance told the Times Financial Reporter that Dajia Insurance was officially taken over by the state due to the Anbang Insurance incident, but it is impossible to take it over forever.
Everyone's pension insurance continues to lose money
Although we have not published an annual report, we have released an information disclosure report in 23 years, which is also its first public information disclosure report in 7 years since 2016.
Source: Insurance Association of China
According to the 2023 information disclosure report and the solvency report for the first quarter of 2024, we have continued to lose money from 2022 to the first quarter of 2024, with a net loss of 132 million yuan in 2023 to 159 million yuan in 2022, a loss of 137 million yuan in the first quarter of 24 alone, and an investment return of -0.36% in the first quarter of 2024. The Times Financial Reporter called everyone's pension insurance and sent an interview outline, but has not received a reply as of press time.
Source: Everybody's Pension Insurance Solvency Report for the first quarter of 2024
According to the 23-year information disclosure report, the revenue of everyone's pension insurance in 2023 will be 2.210 billion yuan, an increase of 258% year-on-year compared with the revenue of 857 million yuan in 2022, of which the earned premium is 1.949 billion yuan, compared with 440 million yuan in the same period of 22.
While the premium of our pension insurance is expanding rapidly, the surrender fund and the insurance liability reserve withdrawn have also increased significantly.
Among them, the surrender amount in 2023 will be 199 million yuan, compared with 26 million yuan in the same period of 22 years, and the surrender amount of only one product of "Anbang Pension Pension Insurance (Universal Insurance)" will reach 145 million yuan in the first quarter of 2024, and the insurance liability reserve withdrawn in 23 years will be 1.054 billion yuan, compared with 212 million yuan in the same period of 22 years, which is disclosed to be mainly due to the rapid growth of life insurance liability reserves.