完成股权变更！中意财险转外商独资

Core Viewpoint - Chubb Group has completed the acquisition of a 51% stake in China United Property Insurance Company, becoming its wholly-owned subsidiary, which is expected to enhance its operational flexibility and market competitiveness in China [1][2]. Group 1: Acquisition Details - On March 25, Chubb Group announced the completion of its acquisition of China United Property Insurance Company (CUPIC), becoming its sole shareholder after receiving regulatory approval [1]. - The acquisition process began in November 2023 when China National Petroleum Corporation listed its 51% stake in CUPIC for sale [1]. - Chubb Group signed an agreement in January 2024 to acquire the 51% stake for approximately €99 million (around RMB 774 million) [1]. - The transaction was finalized on September 27, 2024, with Chubb Group holding 100% of CUPIC's shares [1]. Group 2: Financial Impact and Future Plans - The acquisition is expected to have a negative impact of approximately 1 percentage point on Chubb Group's solvency ratio [1]. - In February 2024, Chubb Group agreed to inject €40 million (approximately RMB 306 million) into CUPIC, which would increase its registered capital from RMB 1.3 billion to RMB 1.606 billion, pending regulatory approval [2]. - CUPIC, established in April 2007, was the first joint venture property insurance company in China post-WTO accession, formed by China National Petroleum Corporation and Chubb Group [2]. - Chubb Group aims to leverage its brand resources to enhance CUPIC's operations in the rapidly growing Chinese market [2]. Group 3: Market Implications - The transition from a joint venture to a wholly foreign-owned enterprise is expected to provide CUPIC with greater flexibility in decision-making and resource allocation [2]. - Industry analysts believe that CUPIC can benefit from Chubb Group's extensive experience and advanced technology in the global insurance market, potentially revitalizing the Chinese insurance sector [2].