ABC LIFE INSURANCE CO., LTD.

ABC Life Insurance Co., Ltd

ABC Life Insurance Co., Ltd. is a national life insurance company established by Agricultural Bank of China Co., Ltd. and Beijing Zhongguancun Science City Construction Co., Ltd. and registered with the State Administration for Industry and commerce. Headquartered in Beijing, the company has set up nearly 400 branches including 23 branches in Beijing, Zhejiang, Liaoning, Shandong, Fujian and other provinces.

Company profile

The Agricultural Bank of China holds 51% of the shares of ABC life insurance and is the controlling shareholder of the company. As a leading retail bank, second to none corporate bank and county financial business leader in China, the stock market value of Agricultural Bank of China ranked fifth in the global banking industry in 2011, and seventh in the top 1000 global banks of British banker magazine. The strong shareholder background has injected strong impetus into the leap forward development of Agricultural Bank life. As an insurance company controlled by a large state-owned bank approved by the State Council, ABC life will rely on the strong financial strength, huge business network, perfect financial services and excellent social reputation of Agricultural Bank of China to provide customers with high-quality insurance protection and wealth planning services.

Premium scale over the years

Annual premium scale of ABC Life Insurance Co., Ltd

Introduction to shareholders

Agricultural Bank of China Limited

The predecessor of the Agricultural Bank of China can be traced back to the agricultural cooperative bank established in 1951. Since the end of 1970s, Agricultural Bank of China has gone through different stages of development, such as national professional bank, state-owned commercial bank and state-owned holding commercial bank. In January 2009, it was restructured into a joint stock limited company. In July 2010, it was listed on Shanghai Stock Exchange and stock exchange of Hong Kong respectively.
As one of the major comprehensive financial service providers in China, Agricultural Bank of China is committed to building a first-class commercial bank which is oriented to agriculture, rural areas and farmers, urban-rural linkage, international integration and diversified services. With its comprehensive business portfolio, huge distribution network and leading technology platform, Agricultural Bank of China provides a variety of corporate banking and retail banking products and services to its customers.
The Agricultural Bank of China is growing in development and advancing in innovation, making brilliant achievements one after another. In 2011, there were more than 23000 domestic and foreign business institutions of Agricultural Bank of China, and the number of physical outlets ranked the first among large banks; the number of individual customers reached 395 million, ranking the first in the same industry. By the end of 2011, the total assets of the Agricultural Bank of China were 11.7 trillion yuan < br > in 2011, the Agricultural Bank of China ranked 127th in the Fortune Global 500 of the United States, the stock market value ranked 5th in the global banking industry, and ranked 1 in the global banking of the banker magazine of the United Kingdom, Agricultural Bank of China has become one of the most famous financial service brands in China.

Beijing Zhongguancun Science City Construction Co., Ltd

Beijing Zhongguancun Science City Construction Co., Ltd., established in 2001 with a registered capital of 1.28 billion yuan, is a large enterprise group under the Chinese Academy of Sciences. By 2011, the company has developed more than 2 million square meters of project land resources, with a total planning construction area of more than 2.8 million square meters. Adhering to the eight character policy of "preciseness, innovation, pragmatism and cooperation", the company has developed into an enterprise group involved in land development and real estate construction, high-tech investment and development, finance and insurance, resources and mining, culture and media by integrating the advantages of high-tech of CAS and the strong strength of shareholders, as well as financial and investment experience. It has won the title of "2006 annual increment of Haidian District" "Long outstanding enterprises", "top 50 real estate development enterprises in Beijing" and other awards. As of December 31, 2011, the total assets of the company reached 2.914 billion yuan and the net assets were 2.063 billion yuan.

Chongqing International Trust Co., Ltd

Chongqing International Trust Co., Ltd. is a non bank financial institution approved by the people's Bank of China in 1984, with a registered capital of RMB 2438.73 billion yuan. Its capital strength ranks second in the national trust company, and it is the largest trust company in central and Western China. As of December 31, 2011, the company's self operated assets totaled 8.569 billion yuan, net assets of 7.9 billion yuan, trust assets under management of more than 50.9 billion yuan, and all indicators ranked first in China's trust industry and Western China. The company has developed into a trust company with sufficient capital, excellent assets, reasonable structure, strong profitability and risk resistance. At present, in addition to operating trust business in the financial field, the company also actively participates in the investment in banking, insurance, fund and securities industries through investment, and has established good business relations with more than 100 financial institutions in more than 30 countries and regions.

China New Era Limited

China new era Co., Ltd. was established in September 1992 with a registered capital of 1 billion yuan. The company is mainly engaged in the wholesale and retail business of material circulation, electronic products, complete sets of equipment and bulk materials. In recent years, the company's business scale has been expanding, and its business scope has expanded to domestic trade, high technology, investment and other fields, and has developed into a large comprehensive group company. The company has established a perfect corporate governance structure, further improved the management level, expanded the business scale year by year, and increased the income year by year, showing a good development trend, which has effectively improved the comprehensive competitiveness of the company. As of December 31, 2011, China new era Co., Ltd. had total assets of 12.236 billion yuan and net assets of 2.546 billion yuan.

China sigma Co., Ltd

China Sigmar Co., Ltd. was established in 1986 under the Chinese Academy of Sciences. In 1993, it was reorganized into a national, cross industry, investment oriented large-scale joint-stock enterprise with a registered capital of RMB 1003.7 million. Through investment in real estate, finance, high and new technology, golf industry, sports media, tourism management, property management, basic industry and energy supply, the company's asset scale has grown rapidly. As of December 31, 2011, China sigma Co., Ltd. had total assets of 10.41 billion yuan and net assets of 1.894 billion yuan. At present, the company has more than 20 wholly-owned, holding and participating subsidiaries, with real estate, finance and technology as its main investment direction.

Shanghai Anshang Industrial Co., Ltd

Shanghai Anshang Industrial Co., Ltd. was established in March 1993 with a registered capital of RMB 50 million. The company is engaged in industrial investment, risk investment, equity investment and real estate investment, with professional investment management experience, strong financial strength and good reputation in the investment field. As of December 31, 2011, Shanghai Anshang Industrial Co., Ltd. had total assets of RMB 1.609 billion and net assets of RMB 1.121 billion.

Punishment for violation of regulations

On November 20, 2017, China Insurance Regulatory Commission (CIRC) issued a regulatory letter on its official website, saying that ABC life insurance, BOCOM Kanglian life insurance and Great Wall Life Insurance broke through the regulatory provisions in disguised form when submitting the product filing materials. The CIRC decided to prohibit the three companies from declaring new products within six months from the date of issuance of the regulatory letter. according to the regulatory letter, during the inspection, the CIRC found that the calculation of cash value of the three companies, including ABC life, was unreasonable, did not conform to the general actuarial principles, and broke through the regulatory provisions in disguise. The main responsibility of product management of the three companies is lacking, the compliance consciousness of product development and design is weak, and the chief actuary's performance of duties is obviously not in place. The problems are serious and the nature is bad.

corporate culture

management idea

Business philosophy is not only the guiding ideology of the company's business activities, but also the concentrated reflection of employees' professional values and social value orientation.
　　

Build a business with trust

"To build a business with credit" means to build a business with credit. "Trust" includes confidence, trust and credit. Confidence is full of confidence in the company, shareholders, life insurance and the future; trust represents mutual trust between employees, superiors and subordinates, employees and the company, as well as between shareholders and management team, and between the company and customers. Credit is the principle of dealing with people and the commitment to customers, employees, shareholders and society. Facing customers with credit, building a brand, rallying people and starting a career.
　　

Seeking health from reality

"Seeking health through practice" emphasizes down-to-earth and steady development. "Reality" includes thinking, speaking and doing. Real thinking refers to that the development blueprint, strategies and measures formulated are in line with the reality and feasible; real speaking refers to being an honest person, telling the truth, doing honest things without boasting; real doing refers to the spirit of doing things step by step and doing things steadfastly.
　　

New achievements

"Creating new achievements" is to strive for "innovation" to produce results and achievements. "New" includes new concept, new mechanism, new mode and new brand. New concept is self breakthrough, updating concept, breaking stereotypes; new mechanism is daring to try and introduce new mechanism, constantly innovate and surpass; new mode is daring to explore new marketing mode, and constantly improve and perfect; new brand is to establish a new image, and create a new brand with market competitiveness and influence.
　　

Strive for excellence with efficiency

"Striving for excellence by efficiency" means "striving for efficiency" while achieving "excellence". "Efficiency" includes efficiency, efficiency and benefit. Efficiency is the shortest time

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