ING (ING) in China will double the license issue to be resolved. It is reported that Bank of Beijing (601169, and it shares) ING intends to take over ING's insurance company's equity, as previously the bank ING has applied for the acquisition of another insurance company in the Pacific (601,099, it shares) Aetna 50% of the shares. Both acquisitions, once completed, "the Department of Aetna," a joint venture insurance company will have the same shareholder structure, the integration of the two companies has become a matter of course.
Two-speed integrated insurance license
ING in China has a Pacific-Aetna Insurance, ING Insurance companies for a long time. 1998 ING Insurance and the Pacific in Shanghai to set up a joint venture Pacific Antai Insurance, which each accounted for 50% of the shares. By the end of 2002, ING Capital Group and set up a joint venture in Dalian ING Insurance. Of these, the South Pacific Antai main market, the main ING Capital markets in the north, the two "designated Jiang and rule."
Due to restrictions on competition, the end of last year as a last resort Taibao A shares in its prospectus promised disposal of the shares of the Pacific Antai 50% stake in Bank of Beijing to apply for an offer. It is reported that Capital Group has exited ING Insurance, Bank of Beijing intends to take the opportunity set, the two sides in terms of price, and other key issues have been agreed at the end of this year there will be substantial progress. However, the Capital Group yesterday related to this reporter's advisory said the group has not yet been to sell the shares.
Capital Group from ING ING is no doubt as to solve the problem dual license. If the success of the Bank of Beijing to buy Pacific Antai Insurance shares at the same time access to ING Insurance stake in the ownership structure of the two insurance companies will be in line, integration has become a matter of course. ING China representative office said that in the future to see whether the integration needs of the situation. The Bank of Beijing won the ING success is uncertain, as the first batch of pilot investment in the insurance industry banks, the management is not only for the number of its acquisitions at the same time in order to obtain the shares of both companies.
The expansion of the banking industry to attract mixed
Following the China Banking Regulatory Commission and China Insurance Regulatory Commission jointly announced the commercial banks and insurance companies can invest in each other's experiments carried out since the Bank of Beijing to enter into the vanguard of the insurance industry. ING Bank of Beijing is due to foreign shareholders, ING Group, Bank of Beijing life insurance license to become a shortcut into the insurance industry. Made it clear that the acquisition of Pacific Antai Insurance stake, the longer it would acquire stake in ING Insurance, Aetna entered the Bank of Beijing Shizaibide Department of Insurance.
There are also the insurance industry and the strong will of the Bank of marriage. Guotai Junan analyst Yu-Long Peng believes that the insurance companies of Banks and Insurance channels as well as fierce competition from most of the Bank of security products wholesale nature of the payment, leading to the Bank of China's security products, high fees, low profit margins. Some of the high rate of the cost of the troubled insurance companies, banks and once the marriage, profitability and value is likely to be increased considerably. Assistant to the chairman of the China Insurance Regulatory Commission, the spokesman Yuan Li said the China Insurance Regulatory Commission has received four commercial banks, insurance companies to apply for shares, namely the Industrial and Commercial Bank (601,398, it shares), China Construction Bank (601,939, it shares), traffic Bank (601,328, it shares) and Bank of Beijing. In fact, the market shares of insurance companies interested in the bank much more than the four mentioned above, the Agricultural Bank and China Merchants Bank (600036, and it shares) have previously demonstrated a strong will.
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