Recently, Taibao pension (Beijing) Co., Ltd. was established. Its legal representative is Hao Lianshan, with a registered capital of 800 million yuan. Its business scope includes: pension services; Nursing institution services (excluding medical services); estate management; Hotel management, etc. The company is 100% controlled by China Pacific Insurance (Group) Co.Ltd(601601) affiliated Taibao life insurance.
This is an epitome of the accelerated layout of the insurance industry in the field of pension.
The layout has reached 10 cities and 11 projects
In recent years, China Pacific Insurance (Group) Co.Ltd(601601) has frequently added weight in the field of elderly care. On February 8, CPIC life insurance successfully won a plot of land with the nature of multi-functional land in Jiugong Town, Daxing District, Beijing, which will be used to build CPIC home Beijing international nursing community. Together with the announcement at the end of last year China Pacific Insurance (Group) Co.Ltd(601601) to invest in the construction of Taibao home in Qingdao, its brand, chain and standardized layout has reached 11 projects in 10 cities.
The endowment health industry is naturally highly consistent with the insurance industry and pays common attention to human life, health and safety. Investing in the pension industry can enhance the competitiveness of the insurance side, promote the optimization of asset allocation at the investment side, and help insurance companies achieve connotative growth and differentiated competition. It is a strategic opportunity that can not be missed for the transformation and development of the insurance industry.
Public information shows that by the end of September 2020, 10 insurance institutions had invested in 47 elderly care community projects, with 84155 beds. Among them, “Taikang home” has been distributed in 22 cities across the country, with an investment of more than 30 billion yuan; Seven elderly care communities opened and more than 4000 people were accommodated. The pension business of China Life Insurance Company Limited(601628) covers three sectors: Institutional pension, community pension and smart pension. It has landed six large pension communities and three community pension service sites, and has jointly carried out smart pension business with Wonders Information Co.Ltd(300168) . Ping An Insurance (Group) Company Of China Ltd(601318) it is planned to invest 22 billion yuan in the development of elderly care communities, of which the elderly care community jointly built with China Merchants Shekou Industrial Holding Co., Ltd. is expected to be launched in 2021. China Taiping plans to invest 20 billion yuan to accelerate the layout of the “Taiping Town” pension community. Among them, the “Wutong people” in Zhoupu, Shanghai has been admitted to over 200 elderly people. The Sanya Haitang people reception center opened in early December 2020, and Wenjiang Wenjiang “Furong family” was picked up in November 2020. New China Life Insurance Company Ltd(601336) three “Xinhua home” elderly care community projects have been implemented in Boao, Hainan, Yanqing, Beijing and Lianhuachi, Beijing. In the future, three elderly care product lines of vitality and health care, continuous care and rehabilitation care will be built.
Focus on areas of people’s livelihood such as health and elderly care
At present, the insurance industry is steadily promoting the construction of the endowment insurance system.
Specifically, in terms of pilot innovation, we launched the pilot of exclusive commercial endowment insurance and took a key step in the development of the third pillar of endowment insurance. In May 2021, the China Banking and Insurance Regulatory Commission issued the notice on carrying out the pilot of exclusive commercial endowment insurance, which made it clear that PICC Life Insurance, China Life Insurance Company Limited(601628) , Taiping Life Insurance, The Pacific Securities Co.Ltd(601099) life insurance, Taikang Life Insurance and New China Life Insurance Company Ltd(601336) 6 family life insurance companies will carry out the pilot of exclusive commercial endowment insurance in Zhejiang Province (including Ningbo) and Chongqing city from June 2021. By the end of October 2021, the accumulated premium income of exclusive commercial endowment insurance was about 200 million yuan, with more than 17000 insured people, including about 5600 online car Hailing drivers.
Steadily promote the pilot of tax deferred pension insurance. By the end of October 2021, a total of 23 insurance companies had participated in the pilot, realizing a total premium income of nearly 600 million yuan and more than 50000 people.
In terms of institutional development, the number of pension insurance companies increased to 10, HengAn standard pension insurance company was approved to start business, and the national pension insurance company was approved to prepare for construction. Pension insurance companies actively explore innovative products, services and management mechanisms.
In terms of commercial endowment insurance, as of the third quarter of 2021, the premium income of commercial endowment annuity insurance has reached 46 billion yuan, and the accumulated liability reserve has exceeded 620 billion yuan, continuing to maintain a steady growth momentum.
Shang Jingguo, Secretary General of China Insurance Industry Association, pointed out that in 2022, China’s insurance industry will focus on people’s livelihood fields such as health and pension, and provide higher quality health insurance and pension insurance.
