Hengbang Property Insurance Co., Ltd.

Hengbang Property Insurance Co., Ltd. was authorized by the Jiangxi Provincial People's Government and jointly initiated and established by 11 outstanding enterprises from within and outside Jiangxi Province, including Jiangxi Provincial Administrative and Institutional Assets Group Co., Ltd., Jiangxi Copper Corporation Limited, and Jiangxi Provincial Investment Group Co., Ltd. It is a national legal-person insurance company registered in Jiangxi Province, with an initial registered capital of 660 million yuan, and its headquarters is located in Nanchang City. Hengbang Insurance received approval from the China Insurance Regulatory Commission to prepare for establishment on January 8, 2014, obtained the opening approval from the China Insurance Regulatory Commission on December 29, 2014, and was officially unveiled and opened on December 31, 2014.
In 2016, Hengbang Insurance looked beyond the province and actively introduced five outstanding enterprises, including Jiangxi Ganyue Expressway Co., Ltd., Jiangxi Provincial Financial Holding Group Co., Ltd., China Railway Group Limited, and Zhongzhi Enterprise Group Co., Ltd., increasing the company's capital to 2.06 billion yuan. On July 29, 2016, it received approval from the China Insurance Regulatory Commission, laying a solid foundation for the company's long-term development.
Hengbang Insurance has established a entrepreneurial development philosophy of "rational operation and seeking progress while maintaining stability," with the development goal of achieving win-win value for shareholders, the company, employees, customers, and society. It adheres to the business model of "highly centralized management, fully authorized sales, fair competition for positions, and technology-driven mobile internet," and is committed to gradually building the company into a modern insurance enterprise with sufficient capital, standardized management, strict internal controls, and good service and efficiency.