COFCO CAPITAL(SZ:002423)2024-06-12 09:26Group 1: Company Strategy and Development - 中英人寿 focuses on customer-centric strategies, emphasizing core areas and mid-to-high-end customer segments, with a focus on "health, retirement, wealth, and inheritance" [1] - The company aims to become the best joint venture life insurance company in China by developing three core channels: individual insurance, agency, and bank insurance [1] - 中英人寿 is committed to high-quality channel transformation, enhancing the performance and recruitment of its teams [1] Group 2: Product and Risk Management - 中英人寿 is transitioning from traditional fixed-cost insurance products to dividend-type products to reduce liability costs and enhance value creation [2] - The company is increasing its allocation of equity assets to improve long-term investment returns in response to low interest rate environments [2] - As of Q1 2024, 中英人寿's comprehensive solvency adequacy ratio is 260.7%, and the core solvency adequacy ratio is 161.62%, significantly exceeding regulatory requirements [3] Group 3: Governance and Decision-Making - 中英人寿's board consists of 10 directors, with equal representation from both shareholders and independent directors, ensuring effective governance [3] - Major decisions require a two-thirds majority approval from the board, reflecting strong communication and consensus between shareholders [3] - The company leverages advanced management experience from both shareholders, particularly in risk management, to maintain a stable operational style over the past 20 years [3]