CCB "buy insurance" absolute holding Pacific Aetna

Yesterday, the joint bid group led by CCB was identified as the successful investment group by Shanghai Equity Exchange, and successfully accepted the 50% stake of Pacific Aetna Life Insurance Co. Ltd., which was listed by China Pacific Insurance (Group) Co. At this point, CCB will be the total possession of Pacific Aetna 51% of the stake, become a controlling shareholder.　　The Chinese Tai Bao also issued a notice on the issue today. According to the announcement issued by the Chinese Tai Bao, the company to the construction Bank, China Life (Taiwan), Construction Bank investment, Shanghai Jinjiang and Shanghai Hua Xu Five joint transferee, the transfer of the holding of Pacific Aetna 1%, 19.9%, 19.35%, 4.9% and 4.85% of the equity, the total transfer price of RMB 950 million yuan.　　The final completion of this transaction has yet to be approved by the relevant regulatory authorities. In the transfer of equity, CCB was given a 1% per cent stake in Pacific Aetna and, according to the agreement signed by CCB and Dutch international group ("ING") in December 2009, CCB will also hold a 50% per cent stake in Pacific Aetna, totaling 51%. After the completion of the equity transaction, Pacific Aetna shareholders will be the Tai Bao group and ING joint shareholding changes to the construction Bank (shareholding 51%), China Life (shareholding 19.9%), Chinese Bank Investment Co., Ltd. (shareholding 19.35%), Shanghai Jinjiang International Investment Management Co., Ltd (shareholding 4.9%　　) and Shanghai Hua Xu Investment Co., Ltd. (shareholding 4.85%) jointly owned companies, and proposed to be renamed as Jian Shin Life Insurance Co., Ltd.　　This is after the Bank of communications shares in the Bao-Kang, Beijing bank shares in the first Aetna and ICBC stake in Jinsheng Life, the fourth case of domestic commercial banks in the insurance company incident. CCB President Jianguo said, "China Construction Bank successfully invested in the Pacific Aetna, is the construction Bank Integrated management strategy taken an important step, the construction bank will give full play in the domestic network, channels, customers and other aspects of the comprehensive advantages, and with the help of China Life (Taiwan) in the field of silver insurance technology talents Pacific Aetna Development for the domestic first-class bank insurance company.　　According to the introduction, after the completion of the transaction, CCB will provide customers with comprehensive bank insurance products through Jianxin, improve the ability to provide customers with one-stop financial services. Pacific Aetna is established in 1998, Sino-Foreign joint venture life insurance companies, headquartered in Shanghai, registered capital of 800 million yuan. As of December 31, 2009, Pacific Aetna Cumulative total premium of more than 6 billion yuan, total assets of 3.7 billion yuan, 2009 to achieve the premium income of 980 million yuan, 28 foreign and joint venture insurance company 12th.