On June 28, Beibu Gulf Property & Casualty Insurance issued an announcement stating that, after the resolution of the 34th meeting of the second board of directors of the company and the approval of the qualifications of the China Banking and Insurance Regulatory Commission, Wang Jianwei will be appointed as the general manager on June 21, 2022, and the term of office will expire. On December 31, 2024, Wang Jianwei was also removed from the position of interim person in charge.
Financial data shows that since Beibu Gulf Property & Casualty Insurance was established in 2013, the premium scale has maintained rapid growth.Since 2016, the net profit of Beibu Gulf Property & Casualty Insurance has turned a loss. From 2016 to 2020, the company's net profit was RMB 45 million, RMB 81 million, RMB 100 million, RMB 50 million and RMB 106 million. Bay Property Insurance lost 159 million yuan.In the first quarter of 2022, the company lost 95 million yuan.
Qualifications for the new general manager have been approved
On January 13, Beibu Gulf Property & Casualty Insurance announced that, upon consideration and approval at the 34th meeting of the second board of directors, the company agreed on January 6 that Chen Shan resign as general manager and chief investment officer of Beibu Gulf Property & Casualty Insurance, and Designate the proposed general manager Wang Jianwei as the interim person in charge of Beibu Gulf Property & Casualty Insurance.
Wang Jianwei's resume, Beibu Gulf Property & Casualty Insurance has not disclosed, but according to public information, Wang Jianwei was the assistant to the general manager and deputy general manager of the strategic development department of Huaan Property Insurance Co., Ltd. The temporary person in charge of the branch, the deputy general manager (in charge of the work), the general manager of the Fujian branch, the general manager and vice president of the Zhejiang branch, and the deputy general manager of Zhongmin Hancheng Insurance Brokerage Company.
Beibu Gulf Property Insurance was established on January 18, 2013 with a registered capital of 1.5 billion yuan. It is the first national legal person insurance institution headquartered in Guangxi.
The company's shareholders are composed of 13 large state-owned and backbone enterprise groups and private enterprises. The shareholders holding more than 5% of the shares are Guangxi Financial Investment Group Co., Ltd., Guangdong Hongfa Investment Group Co., Ltd., Guangxi Communications Investment Group Co., Ltd., Guangxi Beibu Gulf International Port Group Co., Ltd., Guangxi Changjiang Tiancheng Investment Group Co., Ltd., Guangxi Ping Aluminum Group Co., Ltd., and Guangxi Airport Management Group Co., Ltd.The actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Guangxi Zhuang Autonomous Region.
In the middle of last year, Beibu Gulf shareholders put forward clear requirements for the company to achieve high-quality development during the investigation, including accelerating the reform of institutional personnel, adhering to the principle of marketization, and making greater efforts to promote the de-organization of the headquarters and the reform of branches. Establish and improve the market-oriented incentive and restraint mechanism, implement the contractual management system at the management level, vigorously excavate and cultivate outstanding talents, and strive to build a high-quality talent team.
In addition to the general manager, the company's new executives this year also include the company's financial director (CFO) Ning Yuanyuan, assistant general manager Nong Yongjian, audit director Yang Min, chief risk officer, and will be in charge of compliance since March 2020. Song Jiajia of people.Su Wanzhi, who has been the deputy general manager since May 2013, has not changed.
On February 28, as reviewed and approved at the 38th meeting of the second board of directors, three deputy general managers Wang Shujun, Nong Yongjian and Wei Junhui resigned, and Zhu Hanning and Li Chunping resigned from the positions of assistant to the president (assistant to the general manager) and secretary to the board of directors respectively. .
Last year's net profit turned from profit to loss
Since its establishment in 2013, Beibu Gulf property and casualty insurance business income has grown rapidly. By 2020, the company will achieve insurance business income of 3.608 billion yuan and a net profit of 106 million yuan. This is the company's fifth consecutive profit since turning losses in 2016.In 2021, the company's insurance business income will be 3.587 billion yuan, a year-on-year decrease of 0.58%, and the net profit will be a loss of 159 million yuan again.
From the perspective of business structure, among the top five types of insurance in 2021, except for the second largest type of insurance, agricultural insurance, which has an underwriting profit of nearly 100 million yuan, auto insurance, accident insurance, liability insurance, and health insurance are all underwriting losses.
In the first quarter of 2022, the company's insurance business income was 837 million yuan, and the net profit was -0.95 billion yuan.As of the end of the first quarter of 2022, the core solvency adequacy ratio and comprehensive solvency adequacy ratio of Beibu Gulf Property Insurance were 173.14% and 214.6%, respectively, up 14.54 percentage points and 22.11 percentage points from the end of the previous quarter.It is worth noting that the company's comprehensive risk assessment in the fourth quarter of 2021 was downgraded from Category A to Category B.
Regarding the increase in solvency in the first quarter, the company explained in the report that it was hesitant to reduce the actual capital and minimum capital reinsurance by 126 million yuan and 134 million yuan.Beibu Gulf Property Insurance pointed out in the report that from the quarterly solvency changes and liquidity risks, the main reasons for the company's current decline in solvency are losses and the continuous increase in premiums receivable, and proposed improvement measures:
The first is to actively adjust the business structure, strengthen the management and control of underwriting, improve the quality of claims settlement services, reduce the cost of various expenses, and improve the company's profitability; the second is to increase the collection of premiums receivable and reduce the occupation of the company's actual capital by premiums receivable; The third is to actively promote the increase of the actual capital of the company by issuing capital supplementary bonds and other means.
In 2014, Beibu Gulf Property & Casualty Insurance had a capital increase, and the registered capital increased from 600 million yuan to 1.5 billion yuan.In November 2021, Zhongheng Group (SH600252, stock price of 2.95 yuan, market value of 10.252 billion yuan) issued an announcement showing that Beibu Gulf Property and Casualty Insurance plans to prepare for capital increase and share expansion in the near future, and plans to issue 300 million additional shares, with a registered capital of 1.5 billion. yuan increased to 1.8 billion yuan.Zhongheng Group plans to contribute no more than RMB 450 million and subscribe no more than 300 million shares to participate in the capital increase and share expansion plan of Beibu Gulf Property & Casualty Insurance.On the same day, the company announced that it plans to subscribe the first phase of capital supplementary bonds of Beibu Gulf Property Insurance in 2021 for no more than 100 million yuan, with an investment period of no less than 5 years.
However, after receiving inquiries from the Shanghai Stock Exchange, Zhongheng Group announced that it would terminate its participation in the subscription of Beibu Gulf Property Insurance's first tranche of capital supplementary bonds in 2021 and terminate its participation in Beibu Gulf Property and Casualty Insurance shares.
Every reporter Tu Yinghao every time an intern editor Ma Ziqing
