Taikang Insurance Group to get listed within three years

Updated: 2016-08-22 15:14

By Hu Yuanyuan(chinadaily.com.cn)

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Taikang Insurance Group, one of the country's major players in the insurance industry, will strive to get listed within three years, the group's chairman Chen Dongsheng said on Sunday.

"We are going to make Taikang a public company within three years,"said Chen, also the founder of the insurance company. "But we will not do it merely for a listing purpose since our solvency ratio is 300 percent right now. We will first consolidate our structure and realized the shareholders' interests."

Taikang just received approval from the China Insurance Regulatory Commission to turn itself from a life insurance company into a group company.

The group will be mainly responsible for the layout of strategy, team and risks management while subsidiary companies will focus on implementation and innovation, according to Chen.

In the coming decade, Chen said Taikang will quicken its globalization process by taking assets management and running its business globally.

"But we will be very cautious in investing overseas at the very beginning," Chen added.