6 billion yuan to show that the share of agricultural Bank reform "another step"

AgBank's share reform provides a good opportunity for China life to get a breakthrough in the banking sector. IC for the plan on May 12 after the purchase of 2.768 billion shares in the construction Bank, China Life last week to raise the investment in the Chinese banking sector, the Agricultural Bank last week issued to pave the road for its future listing of 50 billion yuan in the subprime debt, Chinese longevity subscribed to 6 billion yuan.　　In the last Friday, China Life has signed a comprehensive strategic cooperation agreement with Chinese Agricultural Bank, including "Cooperation in investment and financing", and the cooperation between the two sides has obviously warmed up.　　ICBC, BOC, CCB, the bank has been listed in succession, the ABC stock reform has been seen as "the insurance industry to participate in the state-owned commercial banks of the last opportunity to share reform," China Life Senior also repeatedly expressed the intention to become the Agricultural bank share reform strategic investors, and last week both sides of the two-degree cooperation shows that the　　The banking sector has always been the focus of asset allocation of China Life, at present, the company holds nine banks, including ICBC, CCB and other shares, but also the tie large shareholder of GF Bank. Full depth cooperation with ABC in Friday China Life and Agricultural Bank signed the Comprehensive Strategic cooperation Framework agreement, the two sides will further in the "mutual provision of services", "joint expansion of Business", "cooperation in investment and financing", "sharing the use of resources" and other aspects of the overall promotion of cooperation. Although the agreement does not address the industry's concerns about the content of the bilateral equity cooperation, but the speculation that China life is likely to become the strategic investors of AgBank has not been broken.　　Chao, chairman of China Life, has repeatedly referred to the prospect of holding a national bank on different occasions, and it is reminiscent of the future or deeper strategic significance of Chinese longevity's cooperation with AgBank.　　As the domestic and even the world's largest listed life insurance company, China Longevity has been keen to participate in the state-owned bank share reform listed, once in ICBC, CCB, Bank of China IPO subscription for a large number of shares, to obtain substantial financial returns.　　Since 2006, China Life has successfully taken stakes in Bank of China, ICBC, merchant bank, Xingye Bank, Minsheng Bank, GF Bank and so on, and has become tie major shareholder of GF Bank, after several years of layout, China Life has already owned 9 banks ' shares. Despite a lot of stakes in banks, but what makes Chinese life miserable is that its deep cooperation with banks has not been as successful as equity investment, and that China Life has not made a breakthrough in the banking sector, even as a major shareholder of tie,　　Its management is actually in Citi's hands. Agricultural Bank share reform opportunity Chao also said that through the investment in banks, both sides can be in resource sharing, risk control, customer service and other aspects of more extensive and in-depth cooperation, is conducive to further strengthen the insurance business and banking business effective integration and interaction.　　In the financial sector, insurance and banking are indeed the closest in-laws, and equity alliances are the best combination for both. Although China Life has many banks ' stakes, the closeness of the bank-insurance partnership is not as strong as it might be.There seems to be few bank channels for China Life's products to be vigorously promoted as their products. CCB Indirect holding of the happiness of life can be in the construction bank occupies a high proportion of the bank's share, so that peers are quite envious. For the Chinese longevity, looking for a close cooperation bank is conducive to the expansion of the banking insurance business.　　AgBank's share reform clearly gives China life a chance to break through in the banking sector. In the process of agricultural bank reform, the market has been rumored that China Life will be the second largest investor after the Treasury to participate in it.　　And the Agricultural bank also needs to introduce a strategic investor, there is a good deal of strategic planning between the two, and China Life has subscribed to 6 billion yuan in the 50 billion-yuan subordinated debt released last week by AgBank to pave the road for its future listing, and the move also implied a better idea than the interest rate attracted by the subordinated debt. The cooperation between China Life and Agricultural Bank, with the help of Agricultural Bank's rich network resources, obviously make the Chinese longevity of the bank and insurance cooperation again attack the next city. Guo Tianyong, director of the Banking Research Center at the Central University of Finance and Economics, said that from the perspective of future development, the financial industry needs different levels of cooperation between banks and insurance to provide comprehensive financial services for the community.　　Through the form of cross shareholding, will help further deepen the cooperation between the Bank and insurance.　　Sword refers to financial holding group "if there is a suitable opportunity, we will consider buying a bank stock" in the "Lujiazui Forum" held this month, Chao, chairman of China Life, said that as long as the company is beneficial, both sides of the business consensus, after taking over the H-shares, China Life will also take stakes in other commercial banks. In fact, Chao said a few years ago that "in areas related to the main business of life and asset management, such as securities, banks and so on, we are likely to have a stake in the identity of strategic or institutional investors".　　In the implementation of the strategy, China Life is already close to the third step of its planning, the core business will be extended to banks, funds, securities, trusts and other related fields, so that the company's development prospects and investment value of a broader promotion. At present, some of the world's top 500 major insurance companies, such as France Axa, Holland International Group, Japanese life, the United States a IG, Germany Guoan, Britain Yingjie and so are integrated financial groups, business scope covers almost all financial areas.　　As China's largest insurer, the Chinese longevity to the development of integrated financial groups is also expected. Our correspondent Lin Yu link the two-quarter slowdown in life insurance premiums will be more pronounced. China Life said yesterday that the growth of premium income in the Chinese insurance industry would not reproduce the strength of last year, as regulated measures have affected it. Wan Feng, China Life insurance chief, pointed out that last year China's 50% per cent increase in premium premiums was an abnormal and unconventional development; The first quarter of this year's premium growth began to slow down, the two-quarter slowdown will be more obvious.　　At the same time, China Life first quarter equity investment accounted for a rise, but the overall investment style will not change. Wanfeng said at the shareholder meeting, because the regulatory authorities issued "Enterprise Accounting Standards Interpretation 2nd", insurance premiums will not be part of the incomeis identified as the premium, the risk of investment and universal insurance is the most affected, the overall pattern of the insurance industry will be greatly changed.　　In addition to the new accounting standards, the regulator's ability to regulate solvency and to guide premium structure adjustment is also the reason for the slowdown in the overall premium income of the life insurance industry this year, he added. "The whole life insurance industry will not grow as dramatically as last year, and many companies I believe will probably end up with a slight increase or negative growth."　　"he said. According to the China Insurance Regulatory Commission, the insurance Insurance premium income of 665.84 billion yuan was increased by 49.2% in 2008.　　In the first quarter of this year, the National Insurance industry personal insurance premiums income of 255.81 billion yuan, the year-on-year growth of only 9.4%. China Life Insurance announced earlier this year January-April, the company achieved unaudited revenue of the original premium of about 126 billion yuan, the year-on-year decrease of 1.56%.