Taiping Life Insurance was founded on 1929. Life insurance company with an 80-year history. In its 80-year "China Taiping" road, it witnessed the development history of the national insurance industry in China. 200 1 China resumed its business for eight years, and the company has adhered to the road of connotative development, showing vigorous vitality and frequent highlights.
Highlight 1: Stable shareholder structure and continuous capital injection make Taiping Life more powerful;
Highlight 2: the comprehensive competitiveness has improved rapidly, and Asian life insurance companies rank ninth;
Highlight 3: Taiping Life has established its sustainable development capability after four consecutive years of profitability;
Highlight 4: Steady and efficient investment management advantages, bringing more benefits to customers;
Highlight 5: adhere to the construction of "three high teams" and lead the professional management of domestic life insurance industry;
Highlight 6: Adhere to professional management, and Taiping Life's personal business has built "eight systems" for system operation;
Highlight 7: First-class service support system to ensure efficient and professional operation of the company;
Highlight 8: Take corporate citizens and social public insurance service providers as their own responsibilities, participate in various social welfare activities, and undertake various important international and domestic activities.
Jincheng Bank set up Taiping Insurance, which was the first of its kind.
1929165438+1On October 20th, Taiping Insurance Company was established in Shanghai.
In the 1920s and 1930s, the national insurance industry in China was at its first development climax.
19 19 after the may 4th movement, China people's national consciousness has been continuously enhanced. Feeling that "since Haitong, China's property insurance and life insurance have been monopolized by foreign investors, and the spillover of money has increased year by year, which not only harms interests, but also is difficult to block, which has a particularly serious impact on the development of China's national industry and commerce" (Shen Leichun: 1937 China Insurance Yearbook), some people of insight began to raise funds to set up insurance companies in an attempt to compete with foreign insurance companies. According to the data, during the period from 19 19 to 1935, more than 30 domestic insurance companies were established.
During this period, a new situation appeared in the insurance industry in China, that is, bank investment insurance became a common practice. Banks have a natural connection with insurance: the loan business they operate and the mortgage of the lender's goods or real estate must be insured as a guarantee. When the insurance industry was in the ascendant, bankers saw that it was a profitable industry and began to operate it. During the period of 1926- 10, there were 12 insurance companies invested by private banks and government banks. "China Insurance History" commented: "During the period from China 1926 to 1936, the financial industry invested in the insurance industry with its abundant funds, improved company management, focused on cultivating professionals, expanding insurance types, developing brokers, and striving for industrial and commercial insurance business by using bank loans. The national insurance industry has developed rapidly. Compared with 19 14, the number of companies has increased by more than three times, and the capital has increased by more than five times, presenting a new scene. "
It is against this background that following the establishment of Anping Fire and Water Insurance Company by Donglai Bank on 1926, private Jincheng Bank invested1000,000 yuan (paid-in 500,000 yuan) to establish Taiping Fire and Water Insurance Company on Jiangxi Road 12, Shanghai. Zhou Zuomin, general manager of Jincheng Bank, is the chairman and general manager of the company, with Ding Xuenong as the first assistant and Wang Boheng as the second assistant. Taiping Insurance Company takes Taiji graphics as a trademark, which means "endless life" and plays the slogan of "Taiping Insurance, Safeguarding Taiping".
The company was established on1October 20th, 1929, 165438+ and officially opened on February 9th of the following year. The company mainly deals in water insurance, fire insurance, hull insurance and automobile insurance. , and handle insurance such as "glass", "postal parcel", "action" and "cocoon silk" as appropriate. "In the early days of its establishment, although the value of various industries was depressed, the final accounts over the years were quite beneficial and the business was progressing day by day" (Jincheng Bank file). But after all, because the capital is not strong enough, it will not be able to undertake large-scale business, or it will only be divided with others, which will affect the income. 1933, Jincheng bank plans to expand Taiping's business, and other banks that have not yet set foot in the insurance industry are also eager to try. Therefore, Jincheng invited four banks, including Communications, Mainland China, Zhongnan and Guohua, to join Taiping, and the capital was expanded to 5 million yuan (paid-in 3 million yuan). At that time, the momentum was huge and the financial community paid attention to it. In July, the company was reorganized, with Huang as the chairman and managing director, Ding Xuenong and Wang Boheng as related persons. At the same time, the word "fire and water" in the company name was deleted and renamed Taiping Insurance Company, and life insurance and accident insurance were added.
Taiping Insurance has since entered the ranks of large insurance companies in China.
After living a rich life in Anping, group management has become a grand view.
In 1930s and 1940s, the birth and death, differentiation and reorganization of insurance companies were common occurrences in China market. During the three years from 65438 to 0934, Taiping Insurance Company successively acquired several insurance companies in China, and began to move towards collectivization.
At the beginning of 1934, Shengfeng Insurance Company planned to sell most of its equity to Taiping due to poor management, reorganize the company and cooperate with Taiping. Taiping is not interested in joint ventures, but considering that the company's brand has a history of many years, if it completely takes over and continues to operate as a subsidiary, "all the conveniences for measuring manipulation and choosing to welcome or reject can continue to exist, and in the name of enriching the company, it will attract more business opportunities, increase the power of progress and complement each other" (Taiping file). After negotiation, Taiping finally bought Shengfeng for 1 ten thousand yuan.
1935 In May, Donglai Bank joined as the sixth largest shareholder of Taiping Insurance. At the same time, Anping Insurance Company founded by Donglai Bank encountered operational difficulties and was also merged by Taiping.
1936 China tianyi insurance company invested by China reclamation bank was also transferred to Taiping at a low price because nobody cared.
The above three companies still retain their original brands, and local branches and agencies continue to operate. In order to strengthen the leadership and management, 1935 established the general manager's office of Taiping Anping Shengfeng, and changed it to the general manager's office of Taiping Anping Shengfeng Tianyi the following year to take charge of all the affairs of the four companies. The general manager's office is located in Taiping Insurance Corporation, and the general assistant of Taiping Insurance Company is also the general assistant of "Tai 'an Toyota General Manager's Office". In this way, Taiping only needs a set of managers to handle the business of four companies. This form of trust management in Europe and America was unique among Chinese and foreign insurance companies at that time and attracted much attention from the industry.
After becoming a group company, Taiping not only greatly increased its financial strength, but also had more extensive business contacts. All branches and clubs of six shareholder banks and four savings associations are contracted by the head office and entrusted as business agents of the company. In this way, all the loans and bills of the six banks were underwritten by Taiping Insurance Group, and their business was greatly boosted.
In addition to the Shanghai head office, Taiping Insurance has set up branches or agencies in large and medium-sized cities in six major regions, including Beijing, Han, Tianjin, Kazakhstan, Shandong and Guangdong. At the peak, the total number of agency outlets in China reached more than 900, and branches were also set up in Hongkong, Singapore, Saigon, Jakarta and Manila. A few years later, Taiping became one of the largest Chinese insurance companies in China.
In those years, most of the national insurance companies had little capital, and their underwriting capacity and limits were correspondingly limited. In order to strengthen the underwriting power of huge business, some China companies began to move towards alliance. In June, 1933 and 10, including Zhaotai, Huaan, Yongning, Yong 'an, Shixian, Haishang, Lianbao, Yi Tong, Ningshao and Huaxing, initiated the establishment of China United Insurance Company, which was chartered by the National Government as a professional reinsurance company operating reinsurance business, and its business nature focused on facilitating the reinsurance of various companies. 1936, Yi Tong Company closed down, and the funds of China Merchants United Insurance Company were seriously affected. The company lost 20 thousand that year and was in danger of dissolution. After several contacts, Taiping Insurance Group came forward to inherit all the shares under Yi Tong's name with a face value of 5 1 000 yuan, of which 26,000 yuan was recognized by Taiping and 25,000 yuan by Anping. On this basis, the articles of association of China Merchants United Insurance Company were revised to increase the number of directors. Taiping is the managing director and chairman, presiding over the company affairs, and Anping is the director. And signed a reinsurance contract with Swiss Re. In the same year, Taiping Insurance cooperated with Lloyd's, Century and Willis Faber &; Dumas signed reciprocal reinsurance contracts with other insurance groups. Since then, Taiping has played a decisive role in the field of reinsurance.
Taiping Life Insurance was established, and the property and life insurance businesses were separated.
When Taiping was founded, it was named "Taiping Fire and Water Insurance Company". 1 July, 1933, the company increased its capital and shares, and the number of shareholders changed from 1 person to five, and the capital increased from110,000 to 5 million. Not only that, but also remove the word "fire and water" from the company name, and prepare to increase life insurance business.
In view of the particularity of life insurance business, in September 2008, the board of directors decided that the life insurance department should conduct independent accounting and set aside 654,380,000 yuan from the company's capital as a fund holding life insurance business. In February 65438, the company appointed a special person to start preparations.
On April 20th, 1934, the life insurance department was formally established and opened to the outside world. By the end of the year, the effective insured amount reached10.70 billion yuan, which has increased year by year since then, and the business scope has gradually expanded to the whole country. 1August, 936, Taiping Insurance acquired China Tianyi Insurance, and all life insurance contracts of Tianyi Life Insurance Department were also undertaken by Taiping General Motors. By the end of 1938, when the life insurance department of Taiping Insurance was reorganized into Taiping Life Insurance Company, the effective insurance coverage of Taiping Life Insurance had reached 7 million yuan.
1937 65438+1October 1 1 day, the National Government revised and promulgated the Insurance Law and the Law on the Implementation of the Insurance Law, stipulating that the same insurance company may not concurrently engage in loss insurance and personal insurance. Those who run insurance business concurrently before the implementation of the insurance law shall be rectified according to law within two years after the implementation of the insurance law. It has been put on the agenda to delimit the life insurance department and set up a life insurance company separately.
Taiping's life insurance department is self-contained from the beginning, with independent business and accounting, and is not mixed with other business departments, so the reorganization procedure is relatively simple. After more than a year's arrangement, Taiping's shareholders, namely, six major banks, namely, Communications, Jincheng, Mainland China, Zhongnan, Guohua and Donglai, subscribed for their share capital of RMB 654.38+million respectively. Then the inaugural meeting was held with great fanfare. Zhou Zuomin was elected as the chairman, Ding Xuenong and Wang Boheng as the managing director, 7 directors including Xu Hanqing and 5 supervisors including Zhou Jiyun, who signed a letter for registration.
1938 August 10, approved by the Ministry of Economic Affairs of the National Government, and issued a business license. On February 30th of the same year, 65438, Taiping Life Insurance Co., Ltd. officially announced its reorganization and establishment. All assets, liabilities and contractual rights and obligations of the life insurance department of Taiping Insurance Company are generally borne by Taiping Insurance Company, and the life insurance department of Taiping Insurance Company is cancelled on the same day. Zhou Zuomin is the general manager, Ding Xuenong and Wang Boheng are deputy managers.
It is nine years from the establishment of Taiping Insurance in 1929 and1June to the establishment of Taiping Life Insurance in1938 at the end of June. In these nine years, 1933 increased its capital and shares, 1935 began to operate in groups, and 1938 founded Taiping Life Insurance, which was basically a leap in three years, and its rapid development was really rare at that time.
Organize Taiping Reinsurance Group to struggle hard in difficult times.
1937, Japan launched a war of aggression against China. After Japan occupied Shanghai, it did not immediately form an open confrontation with countries such as Britain and the United States. The British and American public concessions and the French concessions in Shanghai became "islands" surrounded by Japanese occupation. 194 1 At the end of the year, the Pacific War broke out. When the Japanese army entered the Shanghai Concession, the Anglo-American and French insurance companies that manipulated the Shanghai insurance market were ordered to close down and their foreigners were put into concentration camps.
Because foreign insurance companies have monopolized the insurance market in China for a long time, and China insurance companies are short of funds and weak in strength, the reinsurance problem of China National Insurance Company has always been solved by foreign insurance companies, mainly British, American and Swiss reinsurance companies. After the outbreak of the Pacific War, the reinsurance channels of China insurance companies to Britain, America and other countries were forced to be interrupted. China Insurance Company in Shanghai is trying to find its own way out and set up China Reinsurance Group.
1942 In February, Taiping Insurance Company and Baolong, Daye and other insurance companies formed Taiping Reinsurance Group. By July, the number of member companies had expanded to 19. Within a few years, Chinese-funded insurance companies in Shanghai have successively established six reinsurance groups, including Greater Shanghai, Jiulian, Wulian, Wulian and Chinese Business Union, and Taiping Reinsurance Group, with a total of 80 shareholding companies. Among the six schools, Taiping is very different. Taiping Archives has the following record: "Speaking of the characteristics of Taiping Reinsurance Group, all group affairs are handled by Taiping family, which is not dominated and controlled by other member companies. Obviously different from Jiulian Group, Jiulian Group is handled by another group of offices of participating companies and another group of companies of Greater Shanghai Group. In addition, the reinsurance of excess contracts concluded by Taiping and its domestic and foreign counterparts is mostly based on the principle of reciprocity. However, the share contract reinsurance thus obtained is exclusively accepted by Taiping and cannot be shared with group member companies. Because of their weak financial resources, they are unwilling to take on additional responsibilities; Second, there is no branch abroad. In case of compensation, it cannot be paid in the original currency. "
China insurance company established reinsurance group, which effectively solved the risk dispersion problem of national insurance industry and laid the foundation for China insurance industry to operate independently step by step.
In the later period of Kuomintang rule, inflation was hyperinflation and the economic order was chaotic. According to statistics, from September of 1946 to May of 1949, prices soared by1.055438+billion times. China's insurance industry has been severely damaged, and a large number of insurance institutions have been living in open space, with heavy debts, and even some relatively powerful companies have fallen into unsustainable difficulties. The Chinese Business Joint Reinsurance Group issued a sigh: "The gold certificate has not been issued for a long time, and the depreciation is very fast. No one dares to predict whether it will remain stable after that. If the difficult situation at the end of legal tender is repeated today, I am afraid that my insurance industry will be on the verge of danger. " The insured has lost confidence in the gold certificate, and even if he has the intention to insure, he is only willing to insure and calculate the compensation in foreign currency. As a result, state-owned and other spare insurance companies have changed their underwriting to silver dollars, US dollars and Hong Kong dollars. Taiping Reinsurance Group also organized foreign currency business groups including 22 member companies in July of 1 and 1948, which struggled in difficult times until 1949 was dissolved before liberation.
Public-private cooperation, the world is unified.
1May 27, 949, Shanghai was liberated. According to the instructions issued by the Shanghai Military Commission, 64 Chinese-funded insurance companies and 42 foreign-funded insurance companies, including Taiping Insurance Company, were allowed to resume business.
After more than ten years, the people's government carried out drastic reforms in the insurance market, in which Taiping Insurance Company played an important role.
In the early days of liberation, most insurance companies had weak capital and limited underwriting capacity. In order to alleviate the reinsurance problem of Chinese-funded insurance companies, on July 20th 1949, 47 Chinese-funded private insurance companies jointly formed the Minlian Reinsurance Exchange, with Ding Xuenong, deputy director of Taiping Insurance Company, as the chairman, and the Minlian office also located in Taiping Insurance Company.
Minlian Reinsurance Exchange is the earliest joint venture of Shanghai industry and commerce after liberation. Its establishment has changed the psychology of China insurance companies to rely on foreign capital, greatly enhanced the confidence of China insurance companies, and laid the foundation for private insurance companies to further establish joint ventures.
Under the guidance of the people's government's policy of "restricting, utilizing and reforming" private insurance companies, 195 1 in the second half of the year, 25 private Chinese-funded insurance companies in Shanghai began to consider merger. At the same time, three private insurance companies in Tianjin also sent representatives to Shanghai to express their willingness to merge. After intense preparation, these 28 private insurance companies were funded by the People's Insurance Company of China, and two insurance companies, Taiping and Xinfeng, were established respectively, and embarked on the road of state capitalism.
Taiping Insurance Company, a public-private joint venture, consists of 15 companies, among which there are 12 companies in Shanghai, namely Taiping, Anping, China Tianyi, Tai 'anfeng, Chinese Business Union, Fuan, Baolong, Jianguo, Dafeng, Daxin, Yumin and Yangzi. There are three in Tianjin, namely Dachang, Zhongan and China Ping 'an. The company's total capital is set at RMB 6,543,880 billion (old RMB, the same below), of which the companies participating in the merger contribute RMB 4.5 billion with their net assets, and the remaining RMB 5.5 billion is contributed by China People's Insurance Company. The merger agreement was formally signed on June 22nd 195 1 10, and the public-private partnership Taiping Insurance Company officially opened on June 22nd 1 10.
Taiping Insurance Company has set up a board of directors composed of 19 people and seven supervisors. Upon confirmation by the board of directors, Zhou Zuomin and other seven people are managing directors, Zhou Zuomin is the chairman, Xie Shoutian is the vice chairman, Lin Zhenfeng is the general manager, and Li Zumo and Jin Ruiqi are the deputy general managers.
Xinfeng Insurance Company, a public-private partnership, consists of three private insurance companies in Shanghai/KLOC-0, with a total capital of 6 billion yuan. The company announced its opening on 65,438+0,952,65,438+0.
1953 in April, China People's Insurance Company, as a national insurance company, began to consider the plan of further merger of Taiping and Xinfeng. Through the merger of the two companies, the domestic insurance business will gradually be monopolized by the state, and the combined joint venture company will strengthen its foreign institutions and further develop foreign insurance business. From 65438 to 0955, in the torrent of socialist transformation movement, the public-private partnership of the entire insurance industry finally changed from an idea to a reality. On June1955165438+1October1KLOC-0/,China People's Insurance Company put forward the Proposal on the Merger of Public-Private Partnership Taiping and Xinfeng Insurance Company by its Shanghai Branch, suggesting that the business focus of the merged two companies will be abroad and become under the leadership of China People's Insurance Company. Considering that Taiping Insurance Company has branches in Hong Kong, Singapore, Malaya, Indonesia and other overseas regions, while Xinfeng Insurance Company has no overseas institutions, it is suggested that the merged new institution be named as public-private Taiping Insurance Company.
1956 on March 2 1 22, the meetings of the directors and supervisors of the two companies were held in Shanghai respectively. The meeting made resolutions on the merger of the two companies, the relocation of their headquarters to Beijing, and the suspension of their branches in China.
1August, 1956 10 and 2, Taiping Company and Xinfeng Company published a joint notice in Shanghai Jiefang Daily, announcing: "From August 60, 1956, our two companies merged into a public-private Taiping insurance company, and the merged institution will be moved to Beijing, and the original institutions of the two companies will be cancelled at the same time." China People's Insurance Company Shanghai Branch also published an announcement, "agreeing to accept the insurance liability of unexpired policies issued by two companies in Shanghai". New Taiping Insurance Company is located in Tianning Temple Road outside Fuchengmen, Beijing.
The merger, relocation and suspension of domestic business of Taiping and Xinfeng Insurance Company marked the complete socialist transformation of China's insurance industry, and China's insurance market entered the era of state monopoly.
According to the resolution of the last meeting of directors and supervisors of the two companies, the tasks of the new public-private partnership Taiping Insurance Company are to strengthen the leadership of foreign branches, actively carry out foreign business, continue to serve overseas Chinese and accumulate foreign exchange funds for the country. Since then, Taiping Insurance Company has gone overseas and devoted itself to expanding the international insurance market.
This is 45 years.
Resumption of business in China has realized the dream of several generations.
In the decades after 1956, China's insurance market has undergone several changes, and Taiping Insurance has also struggled overseas. Several generations of Taiping people have worked hard in Hong Kong, Macao and Singapore and won wide recognition.
1998, according to the decision of the State Council, China People's Insurance (Group) Company was abolished, and the overseas operation organization of China People's Insurance (Group) Company was transferred to China Insurance Co., Ltd. (on August 20, 2002, China Insurance Co., Ltd. was renamed China Insurance (Holdings) Co., Ltd.), and Taiping Insurance Company and Taiping Life Insurance Company became two powerful teams under China Insurance Co., Ltd.
Entering the 2 1 century in a blink of an eye, with China approaching the door of the World Trade Organization step by step, it is inevitable for China's insurance market to expand and open. It is in this context that China Insurance made a request to the State Council and the China Insurance Regulatory Commission to return to China to start a business, and at the same time, strategically reorganized its resources: in Hong Kong, Taiping Insurance merged with Min 'an Insurance Company and China Insurance Hong Kong Branch to operate in the name of Hong Kong Min 'an Insurance Company; In Singapore, Taiping Insurance merged with China Insurance Singapore Branch and started business in the name of China Insurance Singapore Branch; China Life Insurance Company Hong Kong Branch will merge with Taiping Life Insurance Company, and the business will be conducted in the name of China Life Insurance Company Hong Kong Branch.
On May 22nd, 20001year, with the consent of the State Council, China Insurance Regulatory Commission approved Taiping Insurance Company and Taiping Life Insurance Company to fully resume insurance business in China. After more than half a year's preparation, Taiping Insurance Company announced its opening on February 20th, 2006, with its headquarters in Shenzhen. At this time, Taiping Insurance Company has carried out equity reform, with China Insurance Co., Ltd. holding 45.05%, China Insurance International Holdings Co., Ltd. holding 30.05% and Industrial and Commercial Bank of China (Asia) Co., Ltd. holding 24.9%. Taiping Life Insurance Company also opened on1October 30th 165438+, and its headquarters is located in Shanghai, the birthplace of Taiping Insurance.
After nearly half a century of overseas expansion, Taiping Insurance began to make great efforts in the domestic market. In the first year after the resumption of business, Taiping Insurance opened branches in Shenzhen, Beijing, Guangdong and Shanghai. In 2003, we opened branches in Tianjin, Dalian, Sichuan, Jiangsu, Zhejiang, Hubei, Henan and Shandong. In 2004, it opened branches in Hunan, Qingdao and Chongqing. In 2005, we set up branches in Shanxi, Shaanxi, Anhui and Fujian. So far, Taiping Insurance has set up 19 branches, and the institutional network layout as a national insurance company has basically taken shape.