Compared with the above names, Li Guangrongs three words may be much stranger to most people. Recently, a bulletin of 600577, SH of the listed company said that the actual controller, Li Guangrong, was arrested by the peoples Procuratorate of Wangcheng District, Changsha, for the crime of bribery. A seemingly simple announcement reveals the fact that Li Guangrong, a low-key insurance guy, has been in jail recently. As the president of the Klc Holdings Ltd (hereinafter referred to as the Chinese Investment Holdings), Li Guangrong is very low profile, but he has a great influence on the capital market. For the insurance industry, Li Guangrong has a much more familiar identity, the chairman of Huaan insurance. About Li Guangrong, Huaan insurance official website introduces: Li Guangrong, born in 1963, a Communist Party member, doctoral graduate student, chairman of the Huaan property insurance Limited by Share Ltd, executive director, board member of the board of directors, board of director strategy and investment decision Committee, chairman of Klc Holdings Ltd and director of Huaan finance and insurance asset management limited liability company. Chang, the director of the board of directors of Chinas livelihood investment Limited by Share Ltd and the chairman of the Advisory Committee of the board of directors, one of the standing vice chairmen of the Asian financial cooperation alliance, one of the founding sponsors, the stationmaster of the postdoctoral research station of the special China, the director of the special committee of the China Insurance Industry Association, the vice president of the China productivity society, China Vice president of urban economic society, vice president of China insurance society, vice president of Beijing Venture Capital Association, vice president of Hunan charitable Association, academician of World Academy of productivity science, chief economic adviser of China General Chamber of Commerce, founder of Chinese and English Entrepreneurs Club, and chairman of Jin Bang Chuang Chuang club in China and Britain. Mr. Li, who is proficient in venture capital, capital operation and modern enterprise management, has been committed to the perfection of corporate governance structure of the company since he was chairman of the company. It has put forward the management concept of responsibility, professional and Endeavour, vigorously promoted product innovation, and created the company for the company while performing the responsibility of the insurance company. Good social and economic benefits led Huaan to a sustained and healthy development. The China Insurance Regulatory Commission approved its qualification as chairman of our company in December 27, 2004. Huaan insurance official network 1998 to the sea Control a number of listed companies According to the announcement in the evening of April 26th, the actual controller of the company, Li Guangrong, was arrested by the peoples Procuratorate of Wangcheng District, Changsha, for the crime of bribery. In fact, JINDA shares announced in April 21st that Li Guangrong resigned as director of JINDA shares for personal reasons. According to public information, in 1998, Li Guangrong launched the Klc Holdings Ltd, which currently owns 98.60% of China Investment Holdings. According to the data, it is a Invest-holding Company with the characteristics of financial investment, financial advisor, investment management and other investment banking, with the characteristics of M & A, financial research services and venture capital, with the investment bank headquarters, investment management headquarters, Chinas post doctoral research workstation and Beijing. The Department and institutions of the special China Institute of Finance and economics. After the establishment of the special China investment holding company, Li Guangrong continued to act on the market. In February 2005, JINDA shareholding shareholder JINDA group sold 31 million 680 thousand shares of joint-stock shares to the Guangzhou terhua Cci Capital Ltd (the predecessor of the terhua Investment Holdings). After the transfer, Guangzhou terhua became the largest shareholder in the company. In 2014, the special investment holding company used to control the shares at about 9.51 yuan per share (600379, SH), and the premium was 58% transferred to Beijing Rongchang. The most important concern of te Hua Investment Holdings is the competition for equity between Shi Yuzhu and Liaonings Cheng Da (600739, SH). Statistics show that Liaoning has a 16.40% stake in GF Securities, and it also invested in China Insurance, holding a full license for securities insurance. Last June, Qianhai open source agreed to transfer some of Liaonings large portfolio of investment portfolios to special China with 20 yuan / share prices, with a transfer ratio of not more than 11% of Liaonings total equity. By the end of last year, the investment of special China has become the second largest shareholder of 8.06% of Liaoning, which is only one step away from the 11.11% holding proportion of the large group of shareholders, leaving Shi Yuzhu 4.25% behind the stock. After Li Guangrongs accident, did he continue to let Liaonings big stock go to 11% of the original plan or give up? The situation seems to be more flutter. Purchase of Huaan insurance from state-owned enterprises in 2002 Similar to the emergence of many capital predators in recent years, Li Guangrong also has a liking for insurance companies. Low profile Li Guangrong first caught the attention of the media in 2002. This year, the special investment holding company acquired Huaan insurance from the overseas Chinese town group, Shenzhen airport group and other state-owned enterprises. After Li Guangrong took charge of Huaan insurance, the development path of Huaan insurance also changed. In 2004, Huaan insurance began selling non life investment products. It is worth noting that in 2004, the non life investment products in our market began to turn into interest rate linked products. In 2000, when China launched the non life insurance investment products, it was a combination mode of family property insurance + investment. The non life insurance investment products with fixed interest rates are faced with a growing interest rate loss in the face of the continued low interest rate, while the risk of unsalable or reinsurance should be faced when the interest rate continues to rise. In 2007, the stock market continued to grow stronger, and Huaan insurance turned to financial management business, even at the expense of conventional business. According to media statistics, from July 2004 to 2007, the company accumulated a total sales of wealth management products to reach 21 billion 800 million yuan, while in 2008, it was as high as 13 billion 50 million yuan. With the help of the capital market of red hot, selling investment products in a big way has brought over profits to Huaan insurance. In 2006 only, the investment income generated by the Huaan insurance investment business balanced all the losses in the car insurance operation before the company, more than 80 million yuan, and the overall return in 2007 reached an astonishing 32.5%. From 2005 to 2012, Huaan insurance increased its capital 5 times, and its capital increased to 2 billion 100 million yuan. The equity structure of Huaan insurance shows that thua has a 20% share of the stock, which is the largest shareholder, and is the second largest shareholder through sea air capital and sea air investment, with a total of 19.643% shares. The scenery is not in Full line underwriting loss of the five major types of insurance However, with the advent of the world financial crisis in 2008, the investment products with unlimited scenery brought enormous pressure of cash flow to Huaan insurance. Also from this year, the CIRC has increased the management and control of financial products, and no longer approves the new investment products of Huaan insurance. Huaan insurance has to return from the investment product to the conventional business, and the Huaan insurance gloss is no longer. In October 23, 2014, at the seventh China Insurance culture and brand innovation forum and the Ninth China Insurance Innovation Awards ceremony, Li Guangrong spoke of the 2008 crisis: the abuse of Wall Street derivatives and the underestimation of the subprime crisis finally brewed the financial crisis. At that time, the management and staff of the Lehman brothers and other companies were greedy to make money. They did not consider the intrinsic value of this product, and the interests of other shareholders were seldom considered. The market is pervading the breath of speculation. Eventually, the bubble burst, Bell Sten and Merrill Lynch were acquired, and the Lehman brothers finally went bankrupt, and the world economy quickly fell to the bottom. In 2017, Huaan insurance realized the original insurance premium income of 11 billion 272 million yuan, an increase of 12.33% over the same period, ranking eleventh in 85 property insurance companies. The top five insurance of premium income are car insurance, accident injury risk, enterprise property insurance, liability insurance and health insurance, but all five kinds of insurance show the state of underwriting loss, of which the loss of car insurance is 226 million yuan. According to the annual report, in 2017, Huaan insurance realized a net profit of 38 million yuan to shareholders of the parent company, down 86.8% from the same period last year. For the decline in performance, Huaan insurance related responsible person told the daily economic news: Under the influence of market environment and industry cycle, the overall cost rate of our company is high, and the strategy of asset allocation has a certain deviation compared with the investment market, and the investment return rate is low, which causes the companys overall profit to fluctuate. At the end of 2017, the solvency adequacy ratio of Huaan insurance was 246.49%. Down 65.48 percentage points from the end of 2016, Huaan insurance said in the annual report, on the one hand, the expansion of business scale and business structure, asset structure adjustment, the increase in capital requirements for the company, the lowest capital from 1 billion 524 million yuan at the end of 2016 to 1 billion 805 million yuan at the end of the year 2017, and on the other hand, the endogenous capital of insurance in Huaan. The ability to decline is affected by the market competition environment and the investment income is not ideal. In 2017, the net profit of the company decreased significantly compared with 2016, resulting in a reduction in real capital. Source: Daily Economic News Editor: Zhao Yaping _NN9005 Under the influence of market environment and industry cycle, the overall cost rate of our company is high, and the strategy of asset allocation has a certain deviation compared with the investment market, and the investment return rate is low, which causes the companys overall profit to fluctuate. At the end of 2017, the solvency adequacy ratio of Huaan insurance was 246.49%. Down 65.48 percentage points from the end of 2016, Huaan insurance said in the annual report, on the one hand, the expansion of business scale and business structure, asset structure adjustment, the increase in capital requirements for the company, the lowest capital from 1 billion 524 million yuan at the end of 2016 to 1 billion 805 million yuan at the end of the year 2017, and on the other hand, the endogenous capital of insurance in Huaan. The ability to decline is affected by the market competition environment and the investment income is not ideal. In 2017, the net profit of the company decreased significantly compared with 2016, resulting in a reduction in real capital.