Yongcheng Insurance

Yongcheng Property Insurance Co., Ltd. (hereinafter referred to as Yongcheng Insurance) was established in 2004. It is a nationwide joint-stock property insurance company jointly initiated by large electric power enterprise groups and industrial investment groups with strong strength both domestically and internationally. Its headquarters is located in Shanghai, with a registered capital of RMB 2.178 billion and 5,000 employees. Yongcheng Insurance's shareholders are composed of large electric power enterprise groups, industrial investment groups, and financial holding groups with strong strength both domestically and internationally. Shareholders of Yongcheng Insurance include Huaneng Capital Services Co., Ltd., Fairfax Financial Holdings Limited, Shenzhen Energy Group Co., Ltd., North United Power Co., Ltd., China Datang Corporation, China Huadian Group Capital Holdings Co., Ltd., Guodian Capital Holdings Co., Ltd., State Power Investment Group Capital Holdings Co., Ltd., Swiss Reinsurance Company Ltd., Fujian Investment & Development Group Co., Ltd., Guohua Energy Investment Co., Ltd., Beijing Xinyuan Yelong Investment Management Co., Ltd., and Yunnan Power Grid Co., Ltd. The strong shareholder strength, abundant business resources, unique technological advantages, and advanced management concepts have laid a solid foundation for the company's growth and development. At present, Yongcheng Insurance's power-related shareholders occupy a significant share of the domestic power generation market, providing a solid backing for the company's sustainable and healthy development. Since its inception, Yongcheng Insurance has always focused on the power and energy sectors as well as large-scale commercial risks. Relying on excellent professional technical capabilities, strong risk management capabilities, and an efficient and dedicated high-quality team, it has grown rapidly in market competition. At present, Yongcheng Insurance has strong capital strength, sufficient solvency, and good asset conditions. It has established 34 provincial branches and over 260 central sub-branches and marketing service departments, forming a comprehensive nationwide service network. In recent years, Yongcheng Insurance has taken accelerating the transformation of development methods as its main line, deepened the adjustment of business structure, and continuously optimized and innovated in organizational structure, sales models, management processes, and system platforms, actively adapting to changes in the market environment. Its overall strength and competitiveness have continued to improve. Currently, Yongcheng Insurance provides professional and comprehensive risk control services for enterprises in sectors such as electric power, petroleum, coal, public infrastructure construction, and shipping. At the same time, products launched by Yongcheng Insurance, such as auto insurance, health insurance, and internet insurance, have also been welcomed and affirmed by insurance consumers. In December 2015, the shares of Yongcheng Insurance were listed and publicly traded on the National Equities Exchange and Quotations (NEEQ, also known as the 'New Third Board'), making Yongcheng Insurance the first insurance company to list on the 'New Third Board' in China. The successful listing of Yongcheng Insurance on the NEEQ marked a substantial step in the company's capital operations and played a pioneering role for insurance enterprises seeking growth through China's multi-level capital market. The business territory of Yongcheng Insurance continues to expand, and its subsidiary 'Yongcheng Finance' provides risk protection for Chinese enterprises implementing the 'Belt and Road' strategy overseas. In 2016, the asset management company of Yongcheng Insurance was approved for establishment, opening a new chapter for the company's development in the financial field. Thanks to its excellent value growth and well-established brand image in recent years, Yongcheng Insurance was awarded the 'Top Ten Property Insurance Companies with Value Growth Potential in China' for two consecutive years in 2015 and 2016. While achieving sound business development, Yongcheng Insurance has always actively fulfilled its corporate social responsibilities and fully played the role of a 'social stabilizer' as a property insurance company. Since its establishment, cumulative claim payments have exceeded RMB 20 billion, playing an important role in helping insured enterprises resume production, promoting social stability, and driving economic development. Meanwhile, Yongcheng Insurance has actively engaged in public welfare undertakings, having funded the construction of Siwen Yongcheng Central Primary School in Tongji Town, Pengzhou City, Sichuan Province, and the Wangjialing Yongcheng Insurance Hope Primary School in Hanzhong City, Shaanxi Province, taking practical actions to support post-disaster reconstruction and aid education in impoverished mountainous areas, thereby fulfilling its corporate citizenship obligations. In 2015, it jointly initiated the 'Mother Health Protection Action – Mother Health Insurance Fund' with the China Women's Development Foundation, providing critical illness and accidental injury insurance for impoverished mothers, with an initial contribution of RMB 10 million to establish the fund platform. Yongcheng Insurance will continue to be market-oriented, pursue a path of innovative differentiation, and strive for quality development and effective growth; proactively grasp the trends of the times, tap into the productivity of new technologies and new media such as the internet, build a professional insurance operation and service platform, and provide comprehensive risk management services to customers; create a modern insurance enterprise with first-class products, first-class services, first-class management, and first-class benefits, and promote the company's development along a group-based and international path.