Minsheng Insurance

Minsheng Life Insurance Co., Ltd. (hereinafter referred to as "Minsheng Insurance") officially commenced operations on June 18, 2003, with a registered capital of 6 billion RMB and its headquarters in Shanghai. It has established a service network covering key provinces and cities across the country, with 26 branches, nearly 600 service outlets, and nearly 15,000 highly qualified professionals. It has served over 10.64 million customers cumulatively and paid out over 8.1 billion RMB in claims. As of the end of 2023, the company's overall strength has steadily improved, achieving original insurance premium income of 11.961 billion RMB, total assets of 126.804 billion RMB, and profitability for 13 consecutive years. Its solvency is adequate and stable, with a comprehensive solvency adequacy ratio of 202% and a core solvency adequacy ratio of 143%. The results of regulatory system evaluations have steadily improved, and the risk comprehensive rating has maintained BBB level for four consecutive quarters. In recent years, based on the development of its core insurance business and starting from the diverse financial needs of users, the company has actively and steadily expanded into related fields such as asset management, health and wellness tourism, fund management, and payment services. It owns subsidiaries including Minsheng Tonghui Asset Management Co., Ltd., Tonghui Kangyang Travel Stock Co., Ltd., and Tonglian Payment Network Services Co., Ltd., gradually building a distinctive "insurance + energy" model with Minsheng characteristics.