Yesterday, manyinsurancePrivate Equity Funded by Institutionsfundformally established!
On November 29, Tianyan Check data showed that China Insurance Rongxin Private Equity Co., Ltd. was formally established with its registered address in Shanghai.FromshareholderJudging from the list, the China Insurance Rongxin Fund has a large backing, and the shareholders behind it are all holding large amounts of funds.insuranceInstitutions, China Insurance Investment also appeared in it.
Source: Sky Eye Check
The shareholders are not small
Data shows that China Insurance Financial Trust Fund was registered and approved by the Shanghai Administration for Industry and Commerce on November 29, with a registered capital of 14.8 billion yuan. Its business scope includes private equity funds for equity investment, investment management, asset management and other activities.
Specifically, Zhongbao Rongxin has 18 shareholders, including 13 life insurance companies, includingChina Life Insurance, Ping An Life, Sunshine Life, etc.; 2 property insurance companies, including PICC P&C and Huatai P&C; the remaining three shareholders are PICC Health, Huatai Assets and China Insurance Investment Co., Ltd.
In terms of holdings,China Life Insurance(Holding 19.59459% shares), Ping An Life (holding 13.51351% shares), Sunshine Life (holding 13.51351% shares),The Pacific OceanLife Insurance (holding 10.13514% shares) 4 life insurance companies hold more than 10% of the shares and are the top four shareholders of China Insurance Rongxin Fund. Five companies including Taiping Life Insurance, Taikang Life Insurance, Dajia Life Insurance, Xinhua Life Insurance, and China Post Life Insurance each hold 6.75676% of the shares.
Image source: Sky Eye Check
Although China Insurance Investment only holds 0.67568% of the shares, it is worth mentioning that China Insurance Investment is a strategic, proactive and comprehensive investment platform for medium and long-term funds directly led by the China Banking and Insurance Regulatory Commission. It aims to concentrate long-term stable funds in the industry and connect The market-oriented demand in the country’s major strategy drives effective social investment and supports the development of the real economy.insuranceThe company, 15 insurance asset management companies and 4 social capital were funded and established.
Source: China Insurance Investment’s official website
In addition to the equity relationship, China Insurance Financial Trust Fund and China Insurance InvestmentExecutivesThere is also a certain connection. Jia Biao, the legal representative and chairman of China Insurance Rongxin Fund, used to serve as the Deputy Director of the Life Insurance Regulatory Department of the China Banking and Insurance Regulatory Commission, and the former Deputy Director of the Insurance Fund Utilization Regulatory Department of the China Insurance Regulatory Commission. He is currently the Deputy Secretary and President of the China Insurance Investment Party Committee.
ParticipatingGuohuaCapital increase
Before the formal establishment, the China Insurance Financial Trust Fund has appeared inGuohuaFinancial capital increaseannouncementmiddle.
On the evening of November 17, ChinaGuohuaRongzeng issued an announcement stating that it plans to issue 39.216 billion domestic shares and 1.961 billion H shares. The total size of the issuance is 41.177 billion shares, and the funds raised will not exceed 42 billion yuan.
In terms of domestic shares, CITIC Group’s subscription for no more than 18.824 billion shares, China Insurance Rongxin Fund’s subscription for no more than 14.510 billion shares,China CindaNo more than 3.922 billion shares will be subscribed, and no more than 1.961 billion shares will be subscribed by ICBC Investment. In other words, the subscription volume of China Insurance Financial Trust Fund is second only to CITIC Group.
China HuarongThe spokesperson introduced that the strategic investors CITIC Group and China Insurance Rongxin Fund introduced in this issuance do not hold more than 30% of the shares, and there is no change in company control. According to the company’s articles of association, shareholders holding more than 5% of the shares have the right to nominate directors. After the issuance is completed, CITIC Group and China Insurance Rongxin Fund will have the right to nominate directors to the company, and the company’s board of directors,General meeting of shareholdersDeliberate and decide.
thenChina HuarongThe announcement disclosed that China Insurance Financial Trust Fund was established by China Insurance Investment (Beijing) as the fund manager to participate in the investment and establishmentfund company, Has completed fund raising and has obtained ChinaSecuritiesThe private equity investment fund product registration of the Investment Fund Industry Association.
According to reports, China Insurance Financial Credit is a corporate equity investment fund planned to be raised by China Insurance Investment (Beijing) Co., Ltd., a wholly-owned subsidiary of China Insurance Investment (Beijing) Co., Ltd., as the fund manager.Before the completion of the industrial and commercial registration of China Insurance Rongxin Fund, according to the authorization of the investors of China Insurance Rongxin Fund, the subscription by China Insurance Rongxin FundChina HuarongFor matters related to this issuance, on behalf of China Insurance Rongxin Fund, delisting from the Beijing Financial Assets Exchange, signing of share subscription agreements and other transaction documents, and other related matters. After the establishment of the Zhongbao Rongxin Fund, the Zhongbao Rongxin Fund shall assume the corresponding rights, obligations and responsibilities of investors.
(Article source: ChinaSecuritiesNewspaper)
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