Navy casualty of control holding the service shares huaan

Reporter Zhao Xiaofei recently, media reports, the two companies owned by Hainan Airlines HNA capital holding company (hereinafter referred to as HNA capital) and hotel Holdings Corporation (hereinafter referred to as HNA Hotel Holdings) has successfully purchased huaan casualty 12.5%, equity, share in the total amount of 19.643%, second only to the first shareholder-Hwa investment holding 20% of stock ownership. But why the actual control of the civil aid service insurance of Hainan Airlines purchase of huaan big insurance? Recommended reading insurance weekly: Storm safe involvement haixin shares owned pipe investigation storm disaster danger-don't forget to vote Wade was the protection of health is expected within months of funds granted 1 billion insurance product specification for more selling short China insurance regulatory Commission to be more variable annuity insurance into a bear market life-saving straw tendencies on the other side of risk capital investment balance? Deciphering the trader password, grasp the main trends in positioning: strategic investors of HNA's two shareholders or financial investors is through Hua an insurance of private placement shares. Huaan insurance 2010 annual report that "the company has signed at strategic investor agreement, to be in 2011 to $ 5 per share price directed issue of new shares totaling 500 million shares. "That is also mentioned in the annual report on January 29, 2011, Hua an HNA industrial holding company, hotel and insurance holdings and investment holding company in China, the three signed with the old shareholders ' equity financing agreement. We note here, Hua an insurance known as HNA industrial holding company, hotel holdings "strategic investors". The so-called strategic investors, generally refers to national laws, regulations and requirements, and the issuer has the intent and potential partnership or cooperation, and by placing the issuer requires signed strategic placing of investment agreement with the issuer legal entity, is working closely with the issuing company business contact and long-term holding issued shares of a body corporate. Its main characteristics shall include a long-term, stable ownership, ownership and power also has the ability to participate in corporate governance. However, according to media reports, the Department of the Hainan Airlines stake in 19.643% investment orientation of financial investors, not meddling in the operational management of the company. HNA is involved in issues of corporate governance, Hua an insurance only on the securities daily insurance reporter of the weekly, "as investors in corporate governance structure in Hainan Airlines such as voting rights for shareholders, to enjoy their right to vote of the Board and other related rights. "What is a strategic investor or a financial investor, seems to have no clear conclusion. Holdings: service not us but at least in the short term or to be established, is the Navy temporarily huaan control person will not be. On one hand, Hua-Hwa investment holding insurance relative majority shareholders, this has also been involved in equity investment, shareholding at 20%, thus maintaining the location of its single largest shareholder. The other hand, Hainan Airlines Group actually holding Ming an insurance. In 2010, the Ming an insurance 100% listed equity transfer, final at Haikou meilan international airport company limited led six companies to 1.5413 billion yuan is subject to all the shares. 6 companies in Haikou meilan international airport and international trust in the Bohai Sea to HNA group holding company, Shanghai jiamei the East Ridge and Shaanxi industry trade groups are the Hainan Airlines Group affiliates. And, in accordance with the measures for the management of insurance company shares, "two or more insurance companies under the same control or control relationship exists, shall operate a conflict of interest or a similar competition between insurance business". HNA group and therefore cannot holding huaan insurance. "But this does not mean that Hainan Airlines are only financial investments, Hainan Airlines was originally a local enterprise, now industry covering aviation, logistics, financial, tourism, and other major areas, that's the way it bigger. Insurance is an important piece in the industry chain, the more the better. "Industry analysis, although it has service insurance, but strategic investment possibilities of huaan insurance remained high. "Could initially finance investment, acquisition of control is not without possible slowly, and integration of service insurance are not even not think. "Profits: investment not covered if it is a financial investment it? Under normal circumstances the financial law of investment aimed at short-term profit, HNA fancy or huaan insurance profitability and the rise in share prices over the coming years of space? How will the results? Huaan insurance was founded in 1996, 2002, to special investment holdings Limited (hereinafter referred to as special investment) headed by a group of private enterprises into, Hua an insurance became the first private holdings of insurers. As of now, Hua an insurance has opened its branch in 29 provinces, municipalities and autonomous regions, which consists of institutions qianyujia, in the formation of the national coverage is complete, focused and in-depth network layout in community. However, on whether it is the scale of premiums or profits, Hua an insurance development seems to be not very stable. Such as investment in China before the shareholders to the master, Hua an insurance years of losses. After for a new shareholder, the situation has changed. In 2004, Hua an insurance premium income of $ 1.45 billion, ranks owned property in 9th position, this position held until the end of 2006, this year, premium income of the company reached $ 2.83 billion. 2007 the great bull market, began a comprehensive restructuring of huaan insurance financial risk. Because of the wealth management-investment-insurance insurance is life insurance, only income 1 per thousand to 2 per thousand access risk premiums. Hua an insurance premium income fell to $ 830 million for the year of the year, domestic property casualty company in the top 18 bits. However, relying on the 2007 capital market prosperity, financial risks brought to Hua an cash income, Hua an insurance 2007 net profit of more than $ 1 billion. But the 2008 stock market adjustment, Hua-insurance premium revenue declined to $ 750 million, while losses. In 2009, Hua an insurance had to learn from the financial danger and back to property and credit risk. This year, premium income growth of the company to 2.81 billion. In 2010, Hua an insurance achieved the original insurance premium income 3.966 billion yuan, reaching historic highs. However, from the perspective of underwriting, only basic break. "Hua-business these years difficult, two or three years ago, some local business came to a stop, nearly two years of recovery, but overall the situation is not very good. "Industry insiders talking about Hua an insurance business. But huaan investments have done good. In 2010, with the $ 1.058 billion from their investment business, company's overall net profit of $ 418 million, owe much to this. 2009 investment income is nearly twice that number on times. Thus, huaan insurance rely more or invest in profitable this "wheel", but is worthy of note, the wheel operating under the influence of external market environment is obvious. If it can ensure stable profits, "usually not soon to the hands of the shareholder. "Share prices: low or high, and that change hands stake to earn the difference for the future? Huaan insurance we cannot predict the future stock price will be high, but the immediate issuance of $ 5 per share price is high or low? $ 5 per share, calculated according to 2010 huaan insurance annual report data, the issue price corresponds to twice PE and 10.87 times times PB. "From the angle of the PE, the price is not very high, should be priced closer to market levels. "A senior insurance analyst said," but from the standpoint of PB, a little expensive, currently several so however listed insurance companies. "But the analysts also said:" the PB, PE comparability of companies is small. "But" very bullish on equity of insurance companies of the future appreciation of space, Hainan Airlines have not even changed hands two years selling a loss. "While other insiders were of the view that Hua an insurance in the future there is also a listing of possible. (function(){varobj=null;if(document.getElementById('page2011nav')){obj=document.getElementById('page2011nav');} elseif(document.getElementById('arctTailMark')){obj=document.getElementById('arctTailMark');} if(obj!=null){varstr='';try{varoo=obj.previousSibling;while(oo.nodeType!=1|| oo.innerHTML.replace(/\s|\u3000/g,'').length==0){oo=oo.previousSibling;} if(oo.nodeType==1&&oo.tagName.toLowerCase()=='p'){varspan=document.createElement('span');span.innerHTML=str;oo.appendChild(span);}} catch(e){}}})();