The insurance industry continues to operate the disposal of assets imminent

Since the beginning of 2006 after the ice-breaking cooperation in the existence of assets inextricably linked with China's PICC and China Life Insurance (601,628, it shares) of the two insurance giants once again stood in front of the same.

November 25, the People's Insurance Investment Holdings Limited ( %26quot;People's Insurance for control%26quot;) and the National Shou Investment Holdings Limited ( %26quot;State control for life%26quot;) in Beijing, jointly organized by the existence of asset management and disposition of the work of the seminar, On the existence of the operation and management of assets from the target, operating mechanisms, risk prevention, development and win-win co-operation of the five aspects of the exchange of experiences, and to keep the two sides continued to operate the disposal of assets, signed a comprehensive cooperation agreement.

The birth of the professional's non-performing assets

In 1996, former Chinese People's Insurance (Group) Company production, is divided into life and the rights and interests of the division of assets, formed a considerable number of the total amount of assets. The two sides began in 2006 on the disposal of assets continues to consult cooperation, after the former Chinese People's Insurance Holding Company and China Life Insurance (Group) Corporation signed a %26quot;cooperation agreement on the disposal of assets,%26quot; the two-year period of cooperation between the two sides have become increasingly extensive and in-depth, And achieved certain results.

In 2007, in order to guard against financial risk insurance to address the issue of non-performing assets of state-owned insurance company, China Life, China People's Insurance Corporation of the two countries have established control for life, human security control for two specialized non-performing assets to engage in the operation and management of公司. To set up more than a year, the two companies continues to do a good job in operating assets and the disposal of the main line of work, on the one hand, to speed up the progress of the disposal of non-performing assets, stringent control and reduce the risk of loss, on the other hand, increased the effective operation of assets, and Has made significant management effectiveness and achieve good earnings and increase the value of state-owned assets.

Difficult to dispose of much higher than the bank %26quot;should be said that the two companies is the establishment of the People's Insurance, the Group of life in the new era of development strategy, is a product of the mind, but also the China Insurance Regulatory Commission from the China People's Insurance is conducive to the long-term development and state-owned assets Increase the value of starting to make a major deployment. But with the letter up, and so on the east of the four asset management companies, insurance industry non-performing assets of the banking sector is more complicated than that, risks and more difficult. %26quot;

According to the People's Insurance Control voted president of LIU Hong, due to the security of people voted and controlled the country for life as a control group of two subsidiaries, as well as a commitment given by the group %26quot;hedge load%26quot; function, and thus the responsibility more difficult. %26quot;The people voted security control, we will be from the early days of existence as an asset management company and the primary core mission, established 'to solve problems left over by history is to promote development and guard against all kinds of litigation risk is the effectiveness of security 'Guiding principles to ensure the completion of the group given the' risk weight 'duties. However, previous agreements signed by both parties tended to contents of the strategic level, and since then the two institutions, asset ownership were significant changes have taken place, so this background, Strengthen the comprehensive cooperation between the two sides have been imminent. %26quot;

Second clearer idea of co-operation

After a period of exploration and practice, the two professional companies on the insurance industry continues to operate the assets of the management obviously has a more profound understanding of the future development of ideas more clearly.

%26quot;Survival of the assets of the operation and management can not take a passive approach to solve a single, not on the existence of assets on the existence of assets, must be guided by the concept of scientific development to develop into a top priority, with the overall, comprehensive, strategic approach to Existence and operation of disposal of assets, responsibilities and benefits, current and long-term, the stock and increase co-ordination to consider together. %26quot;Liu believes that from a long-term vision, the people voted security control must be in accordance with People's Insurance Group, China's development strategy and People's Insurance for control as a wholly state-owned investment company of the nature of the characteristics, to establish a clear, clear, scientific and operating guidelines, must be in a co-ordinated basis, the two adhere to the clear, the realization of three changes.

%26quot;One is to co-ordinate co-ordinate the disposal of assets of the existence and operation of new business development, business innovation and hedge load both at the same time. Insisted that the two should first of all rely on group, the main service industry; Second, we must adhere to the effectiveness of giving priority to compliance in accordance with the law. Three First is the change in thinking to achieve the transition to a market, followed by the operator to achieve the transformation to become a professional capacity, to achieve the third goal to improve profitability, increase the value of state-owned assets to achieve change. %26quot;

State-controlled president for life Song Guodong said that the current national insurance companies for insurance funds to engage in industrial investment policy has not been fully open for investment in the country and life insurance investment in the future this position in business investment in new businesses, good management Existing assets, not only for the exhibition industry enterprises in the future accumulation of material foundation, through better retention of the existing asset management and disposal, improving the system of training personnel, upgrade the industrial enterprise asset management capabilities for the future of investment management and asset accumulation businesses in all aspects Resources.

It is understood that under the agreement the two sides, the next step, the People's Insurance for control, the country will be charged for life in information sharing, information sharing to strengthen cooperation on a common debt to start to deal with mechanisms of cooperation and commitment, through the replacement, the co-operation, co - Disposal, disposal and management commission of cooperation to achieve total assets to maximize revenue. According to the plan, over the next three years, the two sides will have to complete the full terms of total assets and the disposal of the operation.