The Three Gorges Life Insurance lost 0.57 billion in the fir
In 2018, the Three Gorges Life Insurance only realized the original insurance premium income of 0.11 billion yuan, ten times behind Beijing Life Insurance and Guobao Life Insurance, which was later than the opening time.
As the insurance company's solvency report appeared, “loss” Almost became the "connector code" of many small and medium insurance companies. The Three Gorges Life Insurance Co., Ltd. (hereinafter referred to as the Three Gorges Life Insurance), which was established but has been closed for one year, was naturally not spared.
Recently, the company released the solvency report for the fourth quarter of 2018. The report shows that in the quarter, its insurance business income was 2.814 million yuan, but the net loss was 22 million yuan, down 0.47% from the previous month. In 2018, the company had a total loss of 57 million yuan.
In a white paper released recently, McKinsey pointed out that small and medium-sized insurance companies are currently facing seven difficulties in "internal and external troubles." From the internal point of view, from the governance to the basic investment, product development, channel management, customer management, and brand building, relatively large companies are at a disadvantage; from the outside, market competition is increasingly fierce, the situation is grim. To this end, McKinsey advised that small and medium-sized insurance companies should avoid "small but complete" and insist on "small and beautiful." On the one hand, we must understand who we are and what endowments we have (such as shareholders, geography, industry experience, etc.); on the other hand, we must think deeply about whether these endowments can be fully utilized and utilized.
As a newcomer to the insurance industry, it is obviously necessary for the Three Gorges Life to listen to the "master" warning.
The first year of opening loss was 0.57 billion yuan
From the solvency report, the Three Gorges Life Insurance was in a state of loss for four quarters, and its scope continued to expand.
In the first, second and third quarters of 2018, the Three Gorges Life Insurance had a net loss of 7.166 million yuan, 0.13 billion yuan and 0.15 billion yuan respectively. Together with a net loss of 22 million yuan in the fourth quarter, the company lost a total of 0.57 billion yuan in 2018. yuan.
According to the latest data disclosed by the official website of the China Banking Regulatory Commission, in 2018, the Three Gorges Life Insurance only realized the original insurance premium income of RMB 11 million. Beijing Life Insurance and Guobao Life Insurance, which opened later than the Three Gorges Life Insurance, achieved original insurance premium income of 191 million yuan and 128 million yuan respectively in 2018, all of which were more than 10 times higher than the Three Gorges Life Insurance. Beijing Life Insurance was formally approved in January 2017, February 2018The opening approval was obtained, and Guobao Life was approved for opening in May 2018.
It is noteworthy that the net cash flow of the Three Gorges Life has been negative for four quarters. The data shows that in the first four quarters of 2018, its net cash flow was -306 million yuan, -109 million yuan, -508 million yuan, -0.47 billion yuan.
In this regard, in the solvency report for the fourth quarter of 2018, the Three Gorges Life Insurance stated that the company's comprehensive liquidity ratio and liquidity coverage ratio under various pressure scenarios were greater than 100%, and liquidity risk monitoring. The indicator is in a safe area. The main reason is that the company is a new company with one year of operation, sufficient funds, and the investment asset allocation also fully considers the liquidity of the assets.
The general manager has served for half a year "flashing away"
Three Gorges Life Insurance is supported by the Chongqing Municipal Party Committee and the Municipal Government, and the National Insurance Insurance Organization approved by the State Council's insurance regulatory authority is also the first headquarters. A Chinese life insurance company located in Chongqing. On March 23, 2016, the company obtained the approval of the China Insurance Regulatory Commission and was approved for opening on December 15, 2017.
The registered capital of the company is RMB 1 billion. The shareholders include Chongqing Yufu Asset Management Group Co., Ltd. (hereinafter referred to as Chongqing Haofu Asset Management) and Chongqing Gaoke Group Co., Ltd. (hereinafter referred to as Chongqing Gaoke Group). Xinhualian (000620, Diagnostics) Holdings Limited (hereinafter referred to as Xinhualian Holdings), Jiangsu Huaxi Tongcheng Investment Holding Group Co., Ltd. (hereinafter referred to as Jiangsu Huaxi Tongcheng Investment Holdings), Chongqing Dima Industrial Co., Ltd. (hereinafter referred to as Chongqing) Dima Industry), Chongqing Zhongke Construction (Group) Co., Ltd. six large enterprises (hereinafter referred to as Chongqing Zhongke Construction).
The solvency report for the fourth quarter of 2018 shows that as of the reporting period, Chongqing Yufu Asset Management, Chongqing Gaoke Group, Xinhualian Holdings, and Jiangsu Huaxi Tongcheng Investment Holdings all hold 20% equity and are listed as The company's largest shareholder; Chongqing Dima Industry holds 15%, Chongqing Zhongke Construction holds 5%. However, according to Kaixinbao, at present, the 5% stake in Chongqing Zhongke Construction has been pledged.
It is worth noting that although the company was established more than a year ago, the executives have changed. On December 21, 2018, the official website of the Three Gorges Life Insurance announced that the former general manager of the companyOn July 14, 2018, An Yimin took the initiative to resign to the board of directors in writing, and the company has successfully completed the relevant work handover. According to the resolution of the ninth meeting of the first board of directors, the appointed chairman Li Mingming was appointed as the temporary person in charge of the company and acted as the general manager.
It is understood that An Yimin has served as the manager of the branch office (life insurance) of China Ping An (601318, Diagnostics) insurance company (presiding), assistant general manager and general manager of Xinhua Life Insurance Sichuan Branch, Xinhua Assistant General Manager and Deputy General Manager of Life Chongqing Branch, General Manager of Banking Department of Xinhua Life Insurance Corporation, Deputy General Manager of General Manager of Legal Compliance and Risk Management (General Manager Level), officially appointed as General Manager of Three Gorges Life in June 2018 A post.
The reason for the departure of An Yimin was that the Three Gorges Life did not explain. As can be seen from the official website, as a successor, Li has been the assistant to the general manager of Huatai Property Insurance Chongqing Branch, the deputy general manager of Yongan Insurance Chongqing Branch (presiding), and the People’s Daily, China Economic Weekly Southwest Station. Deputy Director, Deputy Director of News Development, Deputy Secretary General of Wanzhou District People's Government, and Chairman of the preparatory team of the Three Gorges Life Insurance Co., Ltd.