JD Capital-invested China Reinsurance Listed in the HKSE
2015-10-26
On October 26, China Reinsurance (Group) Corporation (hereinafter referred to as “China RE”), the only domestic reinsurance group in China, was officially listed on the Hong Kong Stock Exchange (HKSE). Fund invested by JD Capital successfully bought into this only reinsurance group in present China. The subsidiary fund of JD Capital successfully became a shareholder of China RE.
According to statistics of the 2014 reinsurance fee, China RE is the largest reinsurance group in Asia, and the eighth largest in the world. As the only domestic reinsurance group in China, China RE has dominated the market for a long time, and has established long-term intimate business relationships with most domestic insurance companies, thus enjoying a solid customer base. Meanwhile, China RE has its own competitive advantages in terms of data and risk-management technologies.
China RE issued 5.77 billion H shares upon the listing, raising a total of 15.579 billion HK dollars. It enjoyed over-subscribed offerings of more than 94 times and the capital frozen totaled 73.9 billion HK dollars, the fourth highest amount in the Hong Kong capital market. Investors subscribing for stock shares this time are large-scale SOEs and well-known investment institutions, including State Grid, China Development Bank Capital, China Great Wall Asset Management Company, China Life Insurance, the People’s Insurance Company (Group) of China Limited, and Value Partners Group Limited.
Insurance business constitutes a long-term strategic part of JD Capital. In August 2015, JD Capital acquired Zhongjie Insurance Company and Hong Kong Ageas Insurance Company. In the future, JD Capital will keep blueprinting its global insurance business. Through diversified investment modes and strengthened comprehensive business layouts in the insurance industry, and by taking advantages of its experiences and resources in the investment field, JD Capital will make greater profits for its customers and invested companies.