Taikang Life Insurance Company Limited is a

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

-based,

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

-incorporated

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

company, the fourth largest life insurer by premium income in China, offers services ranging from

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

. It was founded in 1996 by CEO Chen Dongshen, a businessman related to

Mao Zedong Mao Zedong pronounced ; also romanised traditionally as Mao Tse-tung. (26 December 1893 – 9 September 1976), also known as Chairman Mao, was a Chinese communist revolutionary who was the founder of the People's Republic of China (PRC) ...

. The company has branches in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

Hubei Hubei (; ; alternately Hupeh) is a landlocked province of the People's Republic of China, and is part of the Central China region. The name of the province means "north of the lake", referring to its position north of Dongting Lake. The prov ...

Shandong Shandong ( , ; ; alternately romanized as Shantung) is a coastal province of the People's Republic of China and is part of the East China region. Shandong has played a major role in Chinese history since the beginning of Chinese civilizati ...

Guangdong Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) ...

and in other locations. In 2016, it acquired a 13.5% stake in

Sotheby's Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and ...

, becoming the largest shareholder of the New York-based auction company. Its headquarters is in the Taikang Life Building (泰康人寿大厦) in

Xicheng District Xicheng District () is a district of Beijing. Xicheng District spans , covering the western half of the old city (largely inside the 2nd Ring Road - the eastern half is Dongcheng District, Beijing, Dongcheng District), and has 706,691 inhabitant ...

History

Taikang Life Insurance Co. Ltd. was founded on August 22, 1995, after approval from the

People's Bank of China The People's Bank of China (officially PBC or informally PBOC; ) is the central bank of the People's Republic of China, responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by ...

, as a national corporation headquartered in

. Under the guidance of

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and CEO Chen Dongsheng, Taikang Life Insurance has experienced steady growth from its inception. From 2006 to 2007, Taikang created the two subsidiaries ''Taikang Asset Management Co. Ltd.'' and ''Taikang Pension Co. Ltd.'', the former being one of the largest investment corporations in Mainland China (winning the "21st century Gold Shell Prize" in investment performance for four consecutive years) and the latter being one of the first corporations to obtain government approval for the development of a

retirement community A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves; however, assistance from home care agencies is allowed in some communities, and activities and socializ ...

. ''Taikang Property Investment Co. Ltd.'', which focuses on higher risk, opportunistic investments especially in conjunction with real estate and retirement community projects, was created in March 2010. Taikang Life's premium revenue in 2010 totaled 86.8 billion yuan, representing a year-on-year increase of 29%, and after-tax profits totaled 2.1 billion yuan. In 2011,

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

acquired a 12.02% stake (102.48 million shares) in Taikang Life Insurance from AXA Life Ltd.Goldman Sachs Agreed to Buy 12.02% of Taikang Life
Taikang Life is preparing for an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

on both the

and

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

stock exchanges.Taikang Life Insurance Co. Ltd. Company Information

Operations

Taikang Life had end-of-year total assets totaling 500 billion yuan and net company assets totaling 12.5 billion yuan in 2011. Taikang has 35 branches throughout China.Taikang Life Insurance Website

References

External links

Taikang Life Insurance in Bloomberg Businessweek
{{Insurance companies of China Life insurance companies of China Companies based in Beijing Financial services companies established in 1996 Chinese brands Xicheng District