Yian Patent Casualty Insurance enters the bankruptcy and reorganization of Huaxia Life, Tianan's life expectancy to be announced

The disposal of Yi'an Property & Casualty Insurance and Tianan Property & Casualty Insurance is in an orderly manner. The two companies of Huaxia Life and Tianan Life are still to be announced.

Author: Jiang Xin

Figure: Tuwa Creative

Guide

One || The court believes that the object of bankruptcy and reorganization should be a predicament company with salvation value and possible, and the Ya'an Property Insurance has certain reorganization value and the possibility of saving.

接 || Among the four -receiving insurance company, Huaxia Life's disposal path has most affected market attention.

On the eve of the reception period, the disposal path of Yi'an Property Insurance Co., Ltd. (hereinafter referred to as "Yi'an Property Insurance") was clear.

On the evening of July 15th, the CBRC issued a approval on the bankruptcy and reorganization of Yi'an Property & Casualty Insurance, and agreed to enter the bankruptcy reorganization procedure. At the same time, Yi'an Pte: Entertainment Insurance is required to carry out follow -up work in strict accordance with relevant laws and regulations. In case of major situations, report to the CBRC in a timely manner. The approval time is June 29, 2022.

On July 17, 2022, it was Yi'an Property Insurance, Tianan Property Insurance Co., Ltd. (hereinafter referred to as "Tianan Property & Casualty Insurance"), Tianan Life Insurance Co., Ltd. (hereinafter referred to as "Tianan Life Insurance"), Huaxia Life Insurance Co., Ltd. (Huaxia Life Insurance Co., Ltd. The following referred to as "Huaxia Life") The four insurance companies ended the end of the two -year reception period.

On July 17, 2020, the China Banking Regulatory Commission announced that it would take over the above four institutions, and the takeover period was one year. On July 17, 2021, the supervision period of the above institutions was extended for one year.

As of now, the disposal of Yi'an Property & Casualty Insurance and Tianan Property & Casualty Insurance is in an orderly manner. The two companies of Huaxia Life and Tianan Life are still to be announced.

Bankruptcy reorganization and listing transfer

On the evening of the 15th, the Beijing Financial Court disclosed a civil ruling. According to the ruling, on July 8th, Yi'an Property Insurance applied for bankruptcy and reorganization to the Beijing Financial Court on the grounds of its failure to claim the debt due and obviously lacking capacity.

The ruling disclosed the financial status of Yi'an Property & Casualty Insurance. According to the data reported by the Yi'an Property & Casualty Insurance Pure Assets Special Audit Report on the benchmark date of March 31, 2022, the total asset evaluation of Yian Property Insurance was 33815.74 10,000 yuan, total liabilities evaluation value of RMB 461,918,700, and the value of net asset evaluation of -123.7613 million yuan. The value of the net assets after the assessment of Yian Patent Casualty Insurance is worth the value of 34.164 million yuan than the book value, but it is still in a state of non -deductible debt.

The court believes that the target of bankruptcy and reorganization should be a difficult company with saving value and possible, and Yi'an Property Insurance has certain reorganization value and possibility of saving. The reason is that Yi'an Property Insurance, as one of the four Internet insurance companies, has the advantages of flat management structure and light asset operations. At the same time, Yi'an Property & Casualty Insurance's own assets and liabilities are not large, and it is expected to improve the solvency of the solvency through limited investment.

As one of the only four Internet insurance in the insurance market, Yi'an Property & Casualty Insurance was established in December 2016, with a registered principal of 1 billion yuan. At the beginning of the opening, Yi'an's financial insurance made a single month in the first month, and it achieved profitability that year, and the second year was still in a profit state.

The changes occurred in 2018. The investment environment changed, P2P credit risk broke out, and the operating conditions of Yian's property and insurance in depth on the Internet began to change. The company's net profit in 2018 and 2019 was -199 million yuan, -167 million yuan Essence

In the first quarter of 2020, Yian Property & Casualty Insurance Report showed that net assets were 510 million yuan, net profit was -260 million yuan, and insurance business revenue was 74.37 million yuan.

As a financial insurance company that is also taken over, Tianan Property & Casualty Insurance is trying to sell the equity again.

On July 9, Tianan Property & Casualty Insurance Insurance's asset package once again publicly listed on the Shanghai United Property Exchange. The transfer reserve price was 10 % off from the previous 2.1378 billion yuan to 1.902 billion yuan. From July 11th, the listing time is 20 working days as of August 5.

On June 9, Tianan Property & Casualty Insurance was transferred to the reserve price of 2.1 billion yuan, but after 20 working days, there was no result.

According to the information of the Shanghai Stock Exchange, the asset packets proposed by Tianan Property and Casualty Insurance are mainly the company's insurance business -related assets. The assets mainly include: available for sale of financial assets, monetary funds, long -term equity investment, fixed assets, etc.; Liabilities mainly include: insurance Reserve, payable accounts, handling fees and commissions, premiums, etc.; Insurance business mainly includes property insurance business, branch institutions, marketing networks, etc.

According to the balance sheet disclosed on the transaction page, Tianan Property & Casualty Insurance currently has a total assets of 14.4 billion yuan, of which 1.9 billion yuan in currency funds, 3.13 billion yuan for the sale of financial assets, 3.55 billion yuan in capital margin, and 850 million yuan in fixed assets; cumulative cumulative cumulative; Liabilities were 15.25 billion yuan, the reserve of not expired liability was 6.138 billion yuan, and the reserves of the unsuccessful compensation was 5.634 billion yuan. Yuan; use this to calculate the above-mentioned assets and net assets of -853.6 billion yuan.

According to the data, Tianan Property & Casualty Insurance was established in 1995 with a registered capital of 17.764 billion yuan. As of the data disclosed by the company in 2019, the scale of Tianan Property & Casualty Insurance's assets is 611.13 billion yuan.

At present, Tianan Property & Casualty Insurance has 33 branches (including shipping insurance centers), 263 prefecture -level China -level China branch companies and 944 branches -level business outlets. The main administrative area of ​​the country; a total of more than 18,000 employees, and nearly 10,000 marketers. According to reporters, there are not many property insurance companies that have reached this level. At present, Tianan's traditional property insurance business is operating normally. According to the data of the company's latest disclosed liability reserve, the level of 6.1 billion yuan is equivalent to 6.065 billion yuan disclosed in 2019. At that time, the company's disclosure revenue premium was 15.6 billion yuan. The size of the premium should also be at this level. In 2021, there are about ten property insurance companies with a premium scale of more than 15 billion.

It is worth noting that the transfer of Tianan Property & Casualty Insurance Asset Package has made clear conditions to the transfer party: transaction acceptance of a single entity (which is established in accordance with the law and effectively excesss the property insurance company) transfers and consorties (established in accordance with the law and has initiated the establishment of property insurance The company's qualified corporate legal person consortium).

That is to say, a single property insurance company or the newly launched property insurance company can be used as the assignee of the asset package. However, taking over the above -mentioned asset package is not only as simple as 2 billion yuan. In addition to the need to pay the transaction money at one time, the transfer of the company also needs to meet the requirements for the supervision of the supervision of the financial insurance. This also requires more capital.

Whether Tianan Property & Casualty Insurance's equity can be transferred again to be observed.

Tianan Life Insurance, Huaxia Life Road

Tianan Life Insurance was established in November 2000. According to the company's official website data, as of 2021, Tianan Life's registered capital was 14.5 billion yuan, the scale premiums exceeded 65 billion yuan, and the original insurance premiums exceeded 51.6 billion yuan; Tianan Life Insurance achieved the new single value premiums exceeding exceeding the premiums exceeding exceeding over 7.6 billion yuan, of which the banking insurance period paid 5.762 billion yuan, the development was stable; the marketing bidding was 1.577 billion yuan, and the trend was good;

In 2011, Tianan Life launched a national operation layout. As of 2021, Shanghai, Henan, Shandong, Hebei, Qingdao, Jilin, Sichuan, Jiangsu, Guangdong, and 1 Beijing business headquarters, full system branches, all system branches Cumulative 262.

Tianan Life is a company that quickly grew up after 2013 and was a beneficiary of the asset -driven liabilities.

It is worth noting that in the last annual information disclosure before taking over, Tianan Life has attracted much attention from the market for huge losses. In 2019, Tianan Life has become the king of losses of life insurance companies for a loss of 6.991 billion yuan, or it is related to its 2018 investment failure.

In the future, where to go from Tianan Life, it needs to be observed further.

Among the four insurance companies, Huaxia Life's disposal path has most affected market attention.

Established in 2006, after less than 15 years of development, the scale premium of Huaxia Life Insurance has ranked among the top three in the life insurance industry. Since 2015, Huaxia Life has been sitting in the top five in the industry.

Huaxia Life Life has a total asset size of more than 600 billion yuan, premium revenue of more than 250 billion yuan, renewal premiums exceeded 100 billion yuan, human scale 360,000, and individual customers 37.33 million.

Before 2010, Huaxia Life's performance was as flat as most of the newly established private small and medium -sized insurance companies, and even faced the "curse" that losses for several years. Essence

In 2012, Zhao Ziliang, one of the "Lao Xinhua Railway Triangle", moved to Huaxia Life two years later after life, together with Li Fei, who was born in the securities industry, he opened the second journey of Huaxia Life.

This year, the marketization of interest rates was violently underway, and major changes in financial regulatory policies began to undergo. The financial industry, especially the investment channels of the insurance industry, was released, and product innovation was encouraged. Essence

Huaxia Life is a company that seizes the wind. With the release of the product rate of the debt -side product rate+the policy of the asset -side investment field, coupled with the skillful application of the asset -driven liability model, the unknown Huaxia Life has become a dark horse in the insurance market. The scale of Huaxia Life's premiums rushed to the seventh place in the industry, and in 2015, it entered the top five ranks. In 2018, the size of Huaxia Insurance has risen to the third place in the industry, breaking the "old six" head advantage in the life insurance industry. In 2019, the total assets reached 587.3 billion.

In the two years of being taken over, Huaxia Life's business still maintains a growth trend. Huaxia Life Corporate Social Responsibility Report shows that since 2019, the company has maintained the third position in the industry in the scale of premiums. Although the premium distance is reduced by 267.9 billion yuan, it is still above 250 billion yuan.

At the same time as the asset -driven liabilities model uses the wind and water, Huaxia Life also uses opportunities such as the insurance agent test to cancel the opportunity to develop the insurance team. In 2018, the company's manpower exceeded 400,000 people, and in 2012, the number was only 11,000 people.

It is worth noting that since December 28, 2017, listed companies Zhongtian Financial Group Co., Ltd. (hereinafter referred to as "Zhongtian Finance") has been seeking part of the equity of Huaxia Life Insurance, and has paid 7 billion fixed funds (see the economy for details, see the economy for details (see the economy for detailsObservation Network reported "7 billion deposits to water in water? Zhongtian Finance pursues the end of the Huaxia Life Life Road for the past five years").The two -year reception period is about to end, and how to end the acquisition story of Zhongtian Finance and Huaxia Life in the past five years, and how Huaxia Life's life journey needs to be announced.

Who is struggling to change the life of 340 million people?In the first half of the Chinese, the Chinese people in the second half of the year, the battle of stabilizing the Chinese economy

- END -