Core Insights - Fuzhou Life Insurance Co., Ltd. has received an insurance license from the Shandong Financial Regulatory Bureau, marking its establishment in Shandong province [1][2] - The company is set to offer various insurance products, including life insurance, health insurance, and accident insurance, among others [2] - The establishment of Fuzhou Life is part of a strategy to address the risks associated with Jun Kang Life Insurance, which has faced financial difficulties [3][5] Company Information - Fuzhou Life Insurance is headquartered in Jinan, Shandong Province, with a registered capital of 17 billion yuan [2] - The company was founded on June 19, 2025, and is backed by several investors, including Jinan Jintou Holding Group Co., Ltd. and China Insurance Security Fund [3] - The ownership structure includes Jinan Jintou Holding Group (49.71%), China Insurance Security Fund (35.29%), China Pacific Insurance Asset Management (11.47%), and Jinan Zhengjintongda Investment Group (3.53%) [3] Management Team - The proposed chairman is Feng Yi, who has a background in regulatory roles within the financial sector [4] - Xie Zhufeng, with over 20 years of experience in insurance finance, is expected to take on the role of CEO [4] Industry Context - The establishment of Fuzhou Life is anticipated to facilitate the transfer of Jun Kang Life's insurance business and related assets and liabilities [5]

Core Viewpoint - The establishment of Fuzhou Life Insurance Co., Ltd. marks a significant development in the domestic life insurance market, with the company set to address risks associated with Jun Kang Life Insurance [2][4]. Group 1: Company Overview - Fuzhou Life has received an insurance license from the Financial Regulatory Bureau, allowing it to operate various types of life and health insurance, as well as accident insurance [2]. - The company is based in Jinan, Shandong Province, and was officially registered on June 19, 2025, with a registered capital of 17 billion [2]. - The shareholders include Jinan Jintou Holding Group Co., Ltd. (49.71% stake), China Insurance Security Fund Co., Ltd. (35.29% stake), China Life Asset Management Co., Ltd. (11.47% stake), and Jinan Zhengjintongda Investment Group Co., Ltd. (3.53% stake) [2][3]. Group 2: Shareholder Structure - The majority of Fuzhou Life's shares are held by state-owned enterprises, with Jinan Jintou Holding Group being indirectly controlled by the Jinan Municipal Finance Bureau [3]. - The combined stake of the two major state-owned enterprises amounts to 53.24% [3]. Group 3: Management Team - The chairman of Fuzhou Life is Feng Yi, who previously held a senior position in the Jinan Municipal Financial Supervision Administration [3]. - The general manager, Xie Zhufeng, has extensive experience in the life insurance sector, having worked in various senior roles at other insurance companies [3]. Group 4: Strategic Intent - The formation of Fuzhou Life is part of a strategic initiative to mitigate risks associated with Jun Kang Life Insurance, with expectations of an announcement regarding the transfer of insurance business and related assets soon [4].