Another property insurance company was officially incorporated.
Tianyancha information shows that China RONGTONG Property Insurance Co., Ltd. (hereinafter referred to as China RONGTONG property insurance) has been officially incorporated on January 30, 2022. The registered place is Huangpu District, Shanghai, with a registered capital of 3 billion yuan and a legal representative of Li Yao. Li Yao is the chief accountant and Party member of China RONGTONG group.
In April last year, the China Banking and Insurance Regulatory Commission issued a reply saying that it agreed to jointly launch the establishment of China RONGTONG Property Insurance Co., Ltd. by four units, including China RONGTONG Asset Management Group Co., Ltd. (hereinafter referred to as China RONGTONG group), China RONGTONG Real Estate Group Co., Ltd., China RONGTONG Agricultural Development Group Co., Ltd. and China RONGTONG Tourism Development Group Co., Ltd, With a registered capital of 3 billion yuan, it is registered in Shanghai.
China RONGTONG group is a wholly state-owned commercial company managed by the central government, and the SASAC of the State Council performs the duties of investor. The business scope mainly includes real estate, agriculture, hotel and tourism, business services, resource development and utilization, science and technology services, medical and health care, security services, finance, insurance, culture and education and other fields.
In recent years, there are few insurance companies approved by the CIRC. Previously, there was a Chinese agricultural reinsurance company approved to open at the end of 2020. At the same time, many listed companies have announced their withdrawal from the establishment of insurance companies.
On January 26, Chengdu Haoneng Technology Co.Ltd(603809) ( Chengdu Haoneng Technology Co.Ltd(603809) , 603809. SH) announced that recently, the western agricultural insurance called the development initiation meeting. In view of the fact that the western agricultural insurance did not obtain the administrative license approval of the China Banking and Insurance Regulatory Commission during the preparatory period, the sponsors agreed to liquidate the preparatory work of the western agricultural insurance and dissolve the preparatory group. After the dissolution work is completed, the western agricultural insurance project will be terminated.
At the beginning of 2019, the CBRC stated that it would increase the number and business proportion of small and medium-sized insurance institutions. Since then, Sichuan Financial Holding Group Co., Ltd. and 17 large and medium-sized enterprises inside and outside Sichuan Province, including Chengdu Haoneng Technology Co.Ltd(603809) , plan to initiate the establishment of western agricultural insurance, with a proposed registered capital of 1 billion yuan, and the registered place is Xichang City, Liangshan Prefecture, Sichuan Province. But after three years, the western agricultural insurance has not been approved.
