CIRC Anbang Equity Protection

On Apr. 4, CIRC issued Anbang protection and investor selection.

  • After investigation found some shareholders of Anbang Insurance Group had used non-ownership funds to aid their preparation of fraudulent construction materials.

Supervisory Response

  • To strengthen supervision of insurance, to effectively prevent financial risks, and
    severely crack down on illegal and infringing behavior of insurance equity holders.
  • According to provisions of "Administrative Licensing Law" and other related laws, the CIRC revoked changes in relevant shareholders, registered capital of Anbang.

Equity Restructure

  • In order to ensure that Anbang Insurance Group has sufficient solvency, maintain company's stable operations, and effectively protect the interests of policyholders.
  • CIRC has withdrawn the related equity licenses of Anbang Insurance Group, and
    Anbang Insurance simultaneously introduced insurance protection fund injections.
  • After capital injection, the capital of Anbang Insurance unchanged at RMB61.9bn.
  • While introducing insurance protection fund injection, Anbang will simultaneously start the selection of strategic shareholders, introduce high-quality private capital.
  • To realize orderly, safe exit of insurance protection fund, maintain private nature.