20 10 On July 8th, CITIC Life confirmed to China Business News that its chief executive officer, Chen Jiahu, had resigned and Tan Qiang was appointed as the acting chief executive officer. His appointment will take effect after being approved by China Insurance Regulatory Commission. It is reported that Tan Qiang had previously served as the head of Prudential Asia operations.
Prudential Life stated that Tan Qiang was appointed as the director of Prudential Life Insurance Company on behalf of the foreign shareholders of Prudential Group of the United Kingdom with the unanimous consent of the Chinese and foreign shareholders of Prudential Life Insurance, and acted as the CEO. For personal reasons, Chen Jiahu decided to leave Prudential Group and resign as CEO and director of Prudential Life. The appointment of Tan Qiang also follows the convention that the chairman of Prudential Life Insurance is appointed by Chinese shareholders and the general manager is appointed by foreign shareholders. Prudential Life said that Tan Qiang was born in Changsha, Hunan Province and has nearly 20 years of insurance experience. He has held several leadership positions in China Ping An Insurance (60 13 18), American Antai Group (600408), German Allianz Group and British Prudential Group, and has accumulated rich experience in corporate strategy, sales, mergers and acquisitions and capital market operation.
It is understood that Chen Jiahu served as the general manager of Prudential Life Insurance Beijing Branch in the third year after its establishment. Two years later, Chen Jiahu was transferred to Prudential Malaysia as CEO until March 2008, when he became CEO of Prudential Life Insurance Company. As for Chen Jiahu's whereabouts after his resignation, according to our newspaper, there are two kinds of rumors in the market. One is that Chen Jiahu has switched to great eastern Life Insurance, and the other is that he will be the head of a life insurance company in Chongqing.
Since its establishment, Prudential Life has been cultivated in China for 65,438+00 years. At present, it is a joint venture life insurance company with the largest registered capital. After four rounds of equal capital increase by Chinese and foreign shareholders, its capital has reached 265,438+0./kloc-0. 50 billion yuan.
Prudential Life Insurance told this newspaper yesterday that Prudential Life Insurance achieved a total premium income of 4.02 billion yuan, up 8% year-on-year, and made a profit for the first time. However, according to industry sources, since 2008, CITIC Group, the Chinese shareholder of Xincheng Life Insurance, has been sending a signal of hope for profit to Xincheng, but the loss in that year was still around 200 million yuan. Although it was profitable in 2009, the decline in performance was even more obvious. In the first few years, the original premium scale of Xincheng Life Insurance ranked third and fourth among foreign life insurance companies. But in 2009, Xincheng Life Insurance was surpassed by Huatai Life Insurance, ranking fifth. Since then, Prudential Life Insurance has been hit by Everbright Life Insurance, ranking sixth, and its market share has been gradually eroded by its peers.
On the contrary, another joint venture life insurance company, Everbright Life Insurance, in which foreign shareholders Everbright Group and Canada Yongming Financial Company announced a substantial capital increase and introduced new strategic investors. The shareholding ratio of Canada's Yongming Finance in Everbright Yongming decreased from 50% to 20%, and Everbright Group continued to hold 50% of the shares, holding a controlling position. This equity change has transformed Everbright Yongming from a joint venture to Chinese capital, and the scale of premium has risen rapidly. By the end of last year, the original premium income of Everbright Yongming was 1495438+0 billion yuan, and the original premium income of Xincheng Life Insurance was 4.02 billion yuan. From June 5438 to May, the original premium income of Everbright Yongming was 2.742 billion yuan, exceeding the 2.242 billion yuan of Xincheng Life Insurance.
Therefore, it is reported that CITIC Group intends to imitate Everbright Yongming's foreign capital transfer to domestic capital. However, Prudential Life previously said that it would not comment on this rumor. However, the British Prudential Group recently failed to acquire AIA. Some people in the insurance industry in Guangzhou believe that Prudential Group is unlikely to withdraw from Prudential Life Insurance in the short term, because Prudential Life Insurance has begun to make profits because of its optimistic business in the China market.