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Diversified Financial Services
95505.com.cn

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Investments

1

About Tianan Property Insurance

Tianan Property Insurance provides property, travel, liability, credit, marine, accident, and health insurance products in China and internationally.

Tianan Property Insurance Headquarter Location

Shanghai, Shanghai,

China

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Latest Tianan Property Insurance News

China's Regulator Seizes Control Of Six Insurers, Trust Firms In A Mass Nationalisation Of Private Firms To Enforce Financial Discipline

Jul 17, 2020

China's Regulator Seizes Control Of Six Insurers, Trust Firms In A Mass Nationalisation Of Private Firms To Enforce Financial Discipline The government said it has taken control of Huaxia Life Insurance, Tianan Life Insurance, Tianan Property Insurance and Yi'an Property Insurance, according to a statement by the China Banking and Regulatory Commission (CBIRC) New Times Trust, and New China Trust were also taken over, effective immediately Author: Jul 17, 2020 5:45 AM EDT China's regulator has seized control of six insurers and trusts after finding them in violation of various rules, in the country's biggest nationalisation of financial companies in decades, as it steps up the enforcement of corporate discipline amid the world's biggest stock market rally. The government said it has taken control of Huaxia Life Insurance, Tianan Life Insurance, Tianan Property Insurance and Yi'an Property Insurance, according to a statement by the China Banking and Regulatory Commission (CBIRC). New Times Trust, and New China Trust were also taken over, effective immediately. The takeover was done to "protect the rights of insurance policy holders and the trust firms' customers, as well as serve the public interest," the CBIRC said in a statement. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. The latest seizures come almost a year since the regulator's take-down of several regional and provincial-level banks that had engaged in errant lending. Among them were banks controlled by Xiao Jianhua, one of China's most powerful financiers, owning stakes in hundreds of listed companies through a labyrinthian network of holding entities. Earlier in 2018, the CBIRC took over control of Anbang Group, a former motor insurer turned global asset buyer, after jailing its former chairman Wu Xiaohui for fraud. Anbang, which used insurance premium from its wealth management products to fund its worldwide shopping spree - including an aborted bid for Starwood Hotels and buying the Waldorf Astoria in New York - was nationalised for two years. The government is poised to introduce strategic investors to take over the former Anbang, since renamed Dajia Insurance . The latest seizure features several of Xiao's companies. New Times Trust, formerly known as Baotou Trust, is based in Inner Mongolia, the hometown of Xiao's Baotao Bank, seized by the regulator last year. Established in 1987 and renamed in 2003, New Times offers financial and investment services in infrastructure, finance, equity, educational and medical sector. New China Trust, based in Chongqing, is the oldest among the six seized firms. It was in 1979, offering property trust, family trust, infrastructure trust and a service to help qualified domestic institutional investors (QDII) invest their funds offshore. More to follow ... Purchase the 120+ page China Internet Report 2020 Pro Edition, brought to you by SCMP Research, and enjoy a 30% discount (original price US$400). The report includes deep-dive analysis, trends, and case studies on the 10 most important internet sectors. Now in its 3rd year, this go-to source for understanding China tech also comes with exclusive access to 6+ webinars with C-level executives, including Charles Li, CEO of HKEX, James Peng, CEO/founder of Pony.ai, and senior executives from Alibaba, Huawei, Kuaishou, Pinduoduo, and more. Offer valid until 31 August 2020. To purchase, please click here .

Tianan Property Insurance Investments

1 Investments

Tianan Property Insurance has made 1 investments. Their latest investment was in Shouqi Car Rental as part of their Series B on December 12, 2016.

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Tianan Property Insurance Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/28/2016

Series B

Shouqi Car Rental

$308.9M

Yes

1

Date

12/28/2016

Round

Series B

Company

Shouqi Car Rental

Amount

$308.9M

New?

Yes

Co-Investors

Sources

1

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