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Official Introduction of Evergrande Life Insurance Indicates Evergrande Has Started into the Insurance Industry

 Date:2015.11.25   Publisher:Evergrande Group

Evergrande Group held a news conference on November 22, 2015, where its subordinate insurance company Evergrande Life Insurance was officially introduced. Present at the conference were Board Chairman Hui Ka Yan, Vice Chairman & President Xia Haijun, Executive Vice President Li Gang, Vice President Peng Jianjun, Evergrande Life Insurance Chairman Zhao Dongmei and other leaders as well as Vice President of Postal Savings Bank of China Shao Zhibao, Secretary General of Insurance Association of China Liu Qi and other guests. President Xia Haijun and Chairman Zhao Dongmei made speeches at the conference.

Chairman Hui Ka Yan Enabled the Global Identity of Evergrande Life Insurance

Evergrande Life Insurance officially introduced this time is an insurance flagship of Evergrande created for acquisition of Great Eastern Life Insurance, with the business covering various insurances such as life insurance, health insurance and accident insurance, which is a national large-scale life insurance company. According to the inside analysis, Evergrande ranks No. 1 in the residential industry scale, the most representative extra-large-scale private enterprise, the layout of which in the insurance industry not only conforms to the policy trend, but also accords with the industry development law. The insurance industry, after coming into reality, will further consolidate the owners, and promote the synergetic development of the health industry, internet community service industry and other new industries, forming the largest and the most perfect people's livelihood industry ecosystem in China to guarantee the life of the ordinary people in an all-round manner.

Opening Ceremony of Evergrande Life Insurance

At present, the insurance industry has huge development space, which is a genuine blue ocean industry. Based on the data from China Insurance Regulatory Commission, the national premium income was more than RMB 2 trillion in 2014, and RMB 1.3703 trillion in the first half of the year, with an increase of 19% on a year-over-year basis, and the total profit was RMB 229.8 billion, with an increase of 204% on a year-over-year basis. As predicted in the industrial report, the insurance industry still has the market space of RMB several trillions by more than ten times.

Speech of President Xia Haijun

Speech of Chairman Zhao Dongmei

Speech of Evergrande Board Vice Chairman & President Xia Haijun -

Dear guests and media friends,

Good morning!

We are grandly holding the Evergrande Life Insurance News Conference here today. First of all, please allow me to express the warmest welcome and the most heartfelt thanks to all the guests on behalf of Evergrande Group and Chairman Hui Ka Yan.

After the great-leap-forward development for 18 years, Evergrande Group has grown into a large-scale enterprise group integrating people's livelihood property and cultural tourism, health, agriculture and animal husbandry industries. Based on the data in the 2015 semi-annual report, Evergrande has achieved the total assets of RMB 540 billion, and the data is still constantly increasing rapidly; there are more than 80,000 employees, and more than 1.3 million employment positions have been created. Last year, Evergrande achieved the sales volume of RMB 131.5 billion and paid the tax of RMB 17.1 billion; in the first 10 months this year, Evergrande achieved the sales volume of RMB 154.5 billion and paid the tax of RMB 20 billion; this year, we are expected to complete the full-year sales target of RMB 180 billion, and will be ranked among the top 500 in the world.

Evergrande has been always adhering to the "people's livelihood-oriented" enterprise development concept and development direction. In recent years, surrounding the people's livelihood field in the basic necessities of life closest to the life of the ordinary people, Evergrande is striving to develop the people's livelihood industry ecosystem most appropriate to the ordinary people in China.

It is well-known that the insurance industry is the social "stabilizer" and the economic "booster", an important link to guarantee the people's livelihood. Today, Evergrande has started into the insurance industry, and Evergrande Life Insurance has been jumpstarted, significantly reflecting the "people's livelihood-oriented" enterprise concept. The successful practice of the important people's livelihood project will facilitate us to actively participate in the construction of the increasing improved people's livelihood guarantee network, allowing more common people to share the economic and social development results.

In addition, Evergrande's starting into the industry is also an important direction of strategic development. The insurance industry is an important industry in the modern economy, an emerging sunrise industry and the recognized market blue ocean. In recent years, under the promotion of multiple national policies, the insurance industry in China is developing rapidly. The national premium income was more than RMB 2 trillion in 2014, and nearly RMB 1.4 trillion in the first half of the year, with an increase of 19% on a year-over-year basis. The insurance industry will still have the development space by tens times in the future, and will become a new engine for the enterprise development and the China's economic take-off.

The year 2015 is Evergrande's opening year of the seventh three-year plan of "foundation fortification and diverse development". As the first-scale leading enterprise in China, Evergrande will exploit the advantages in the solid strength, brand, resource and team to rapidly make Evergrande Life Insurance bigger and stronger, making contributions to promoting the sound development of the insurance industry in China, improving the social security system and benefiting the ordinary people in China.

The development of Evergrande not only calls for the strong support of social sectors and the development of social people's livelihood, but also needs your joint promotion. Under your support, we are confident, determined and capable to promote the flourishing of the subordinate people's livelihood industries, and Evergrande Life Insurance will certainly have a brilliant future!

Finally, thank all of the guests and media friends from afar again!

Thank you very much!

Speech of Evergrande Life Insurance Chairman Zhao Dongmei -

Dear Chairman Hui Ka Yan, President Xia, President Li, Secretary General Liu, leaders, guests and media friends,

Good morning!

First of all, please allow me to express the warm welcome to the leaders, guests and media friends and the heartfelt thanks for your support on behalf of Evergrande Life Insurance!

Based on the "people's livelihood-oriented" enterprise concept and development direction, approved by the China Insurance Regulatory Commission, after the successful acquisition of Great Eastern Life Assurance by Evergrande Group recently, Evergrande Life Insurance - the flag to develop in the insurance industry – will officially set sail here today.

Evergrande Life Insurance, as a national large-scale life insurance company, has already owned the extremely mature business platform once introduced, with the business covering various insurances such as life insurance, health insurance and accident insurance, committing itself to provide the top-quality guarantee service for the ordinary people all over China.

In addition, relying on the solid strength of Evergrande Group, Evergrande Life Insurance will have the powerful development motivation and the broad development space. Evergrande ranks No.1 in the layout scale throughout the country, has more than 400 projects in the residential industry in more than 170 cities throughout the country, and has 747 sales branches and more than 1.3 million sales outlets in the FMCG industry; Evergrande has huge brand influence and huge consumer group, and there are more than 80,000 employees and 4 million owners with an annual increase of 800,000 owners, there are more than 10 million annual visiting customers, with an annual increase in the number of members of FMCG industry by more than 1 million, and there are even hundreds of millions of football fans. These unique advantages have laid the most solid foundation for Evergrande Life Insurance to become bigger and stronger.

At present, China is in the critical period of transformation from "insurance great nation" to "insurance powerful nation", and acceleration of the insurance industry development has climbed to the national strategy. China has released important measures such as "Ten Measures for Developing Insurance Industry" successively to encourage the private capital investment in the insurance industry, to promote the deep integration of the practical industry and the insurance industry, and to form a more specialized and more diversified insurance market pattern.

Facing the future, Evergrande Life Insurance developing from a high starting point will rely on the strength of Evergrande and the favorable national policy to ensure that the assets scale will exceed RMB 100 billion by 2018 according to the equity transfer requirement of Great Eastern, so as to achieve the great-leap-forward enterprise development by the all-round improvement in the strength, brand, management and channel, making contributions to flourishing the modern insurance market and promoting the benign development of the industry!

Thank you very much again!

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