Taikang Life

Taikang Life Insurance Company Limited
泰康人寿保险股份有限公司
Private
Industry Financial services, Life insurance
Founded 1996
Founder Chen Dongsheng
Headquarters Beijing, China
Area served
 People's Republic of China
Key people
 Chairman: Mr. Chen Dongsheng
Products Life & Health insurance
Divisions Taikang Asset Management
Subsidiaries Taikang Property Investment Co., Ltd.
Taikang Pension Co., Ltd.
Website www.taikang.com

Taikang Life Insurance Company Limited is a Beijing-based, China-incorporated life insurance company, the ninth largest life insurer by premium income in China,[1] offers services ranging from life insurance to asset management. It was founded in 1996 by CEO Chen Dongshen and has branches in Beijing, Shanghai, Hubei, Shandong, and Guangdong.

History

Taikang Life Insurance Co. Ltd. was founded in August 22, 1996, after approval from the People's Bank of China, as a national corporation headquartered in Beijing. Under the guidance of chairman and CEO Chen Dongsheng, Taikang Life Insurance has experienced steady growth from its inception.

From 2006 to 2007, Taikang created the two subsidiaries Taikang Asset Management Co. Ltd. and Taikang Pension Co. Ltd., the former being one of the largest investment corporations in Mainland China (winning the "21st century Gold Shell Prize" in investment performance for four consecutive years) and the latter being one of the first corporations to obtain government approval for the development of a retirement community. Taikang Property Investment Co. Ltd., which focuses on higher risk, opportunistic investments especially in conjunction with real estate and retirement community projects, was created in March 2010. Taikang Life's premium revenue in 2010 totaled 86.8 billion yuan, representing a year-on-year increase of 29%, and after-tax profits totaled 2.1 billion yuan.

In 2011, Goldman Sachs acquired a 12.02% stake (102.48 million shares) in Taikang Life Insurance from AXA Life Ltd.[2] Taikang Life is preparing for an initial public offering on both the Shanghai and Hong Kong stock exchanges.[3]

Operations

Taikang Life had end-of-year total assets totaling 350 billion yuan and net company assets totaling 12.5 billion yuan in 2011. Taikang has 35 branches throughout China.[4]

See also

References

  1. ↑ Levin, Ned (Nov 18, 2016). "How a Chinese Company Pressed J.P. Morgan to Make Hires". The Wall Street Journal. Dow Jones & Co. Retrieved 20 November 2016.
  2. ↑ Goldman Sachs Agreed to Buy 12.02% of Taikang Life.
  3. ↑ Taikang Life Insurance Co. Ltd. Company Information.
  4. ↑ Taikang Life Insurance Website.
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