Anbang Insurance Group is a global insurance company with total assets of nearly 1971 billion RMB. With over 30,000 employees and a customer base of 35 million worldwide, Anbang stands out as one of the most profitable insurance companies in China. Its business covers life insurance, P&C insurance, health insurance, pension insurance, banking, asset management, etc. With a “customer-centric” strategy in mind, Anbang Insurance is dedicated to creating value for its worldwide customers.
In 2017, Anbang Insurance Group debuted the Fortune Global 500 list, ranking 139.
In 2016, Anbang Life Insurance completed the acquisition of Allianz Korea. Anbang also aquired Retirement Concepts, the largest chain of retirement homes in B.C., Canada.
In 2015, Anbang Property & Casualty Insurance’s registered capital reached RMB 37 billion.
Anbang Life Insurance officially acquired 100% equity of Dutch insurer VIVAT.
Anbang Life Insurance acquired Tongyang Life Insurance of South Korea and retained Tongyang Life Insurance’s public company status. This is the first time for a Chinese company to enter the insurance market of South Korea.
Anbang Life Insurance’s registered capital reached RMB 30.79 billion.
Anbang Life Insurance issued capital supplemental bonds in China in the amount of RMB 15 billion.
In 2014, Anbang Group’s registered capital reached RMB 61.9 billion.
Anbang Group acquired Waldorf Astonia Hotel, New York in the U.S.
Anbang Life Insurance acquired FIDEA insurance company of Belgium. This was the first time for a Chinese insurer to acquire 100% equity of a European insurer.
Anbang Life Insurance acquired Delta Lloyd Bank NV of Belgium (Now Bank Nagelmackers).
In 2013, Anbang Pension Insurance Co., Ltd. was established upon approval by CIRC. Anbang became a comprehensive insurance group with multiple licenses.
In 2011, CIRC approved restructuring of the old Anbang Property & Casualty Insurance for the establishment of an insurance group company. Anbang Insurance Group Co., Ltd. (“Anbang Group”) emerged from the corporate reorganization.
Anbang Asset Management Co., Ltd, Hexie Insurance Sales Co., Ltd. and Beijing Ruihe Insurance Brokerage Co., Ltd. were established.
A new Anbang Property & Casualty Insurance Co., Ltd. was approved by CIRC and was officially established with a registered capital of RMB 5.1 billion.
The new Anbang Property & Casualty Insurance’s qualification to acquire shares of Chengdu Rural Commercial Bank was approved.
In 2010, Anbang Life Insurance Co., Ltd. was founded. In the same year, Anbang acquired Reward Health Insurance Co., Ltd. and changed its name to Hexie Health Insurance Co., Ltd. Thus, Anbang Insurance had obtained licenses for property insurance, life insurance and health insurance, etc. The original shape of Anbang Insurance and Finance Group was basically formed.
In 2009, the registered capital of Anbang Property & Casualty Insurance Co., Ltd. was changed to 5.1 billion RMB.
In 2008, CIRC approved Anbang Property & Casualty’s application for conducting telephone sales business in its 37 branches nationwide. Anbang Property & Casualty is the first company in the property insurance industry to receive approval for conducting telephone sales in all provinces of China.
In 2007, GPS system project was smoothly completed and centralized management and dispatch are realized nationwide.
In 2006, Anbang became the first insurer to launch “issuing policy upon payment” and “zero receivables”. The move was recognized by CIRC as a significant contribution to the development of the industry.
In 2005, 22 branches opened up in Liaoning, Fujian etc. A nationwide business network was basically formed.
In 2004, The former Anbang Property & Casualty Insurance Co., Ltd. was established and opened its first branch in Beijing.