Trillion Anbang Insurance Group announced its dissolution and liquidation, what is the root cause of

The trillion Anbang Insurance Group announced its dissolution and liquidation, I think it is related to the company's business strategy and the way and means of operation, the success of a company depends on its business strategy and means, the root cause of the company's bankruptcy, according to news reports, the company violated the Insurance Law

Provisions.

First, the company is not properly operated, deceiving people trillion Anbang Insurance Group itself is a company that serves the public, it not only does not do honesty and trustworthiness, but to deceive people, the three keys to the successful operation of the enterprise include the principle of honesty and trustworthiness, a company is not honest and trustworthy is difficult to succeed, because it violates the market economy.

The basic law of development, many insurance people say to consumers that insurance companies will not go bankrupt, but trillions of Anbang Insurance Group have collapsed, which shows that improper management and untrustworthy companies can not go on.

Second, the company illegally operates a company, no matter how well his business strategy is formulated, but if the company does illegal and criminal things, the company will basically not be able to go on, and the trillion Anbang Insurance Group is because of the illegal operation, which led to the bankruptcy and liquidation of the company.

Li Xiaohui, chairman of the company, used his position in the company to raise funds to defraud, which seriously violated the relevant laws and regulations of the Insurance Law.

According to the evidence, since January 2011, Wu Xiaohui.

Using Anbang Property Insurance and other companies as financing platforms, he instructed others to use false materials to defraud the original Insurance Regulatory Commission.

Approval and renewal of the sale of investment insurance products. From July 2011 to January 2017, Wu Xiaohui instructed others to deceive regulators and the public by making false financial statements, disclosing false information, falsely increasing capital, fabricating solvency, and concealing and concealing premium income, in order to promise to repay principal and interest and be higher than the bank's deposit interest rate for the same period.

As a bait, the company fell into a financial crisis by selling investment-type insurance products to the public beyond the scale approved by the former China Insurance Regulatory Commission and illegally absorbing huge amounts of funds.

This is the root cause of the company's bankruptcy liquidation.

Although an important factor in the success of the company is the company's correct business strategy, no matter how correct your company's business strategy is, if your company violates laws and regulations and uses some criminal business methods, then in the end the company can only go bankrupt and liquidate, because the law is our final bottom line.

The root cause of the company's bankruptcy is a problem in the management model, and the serious epidemic this year has also affected the economic benefits, which has made the trillion-dollar Anbang Insurance Group, which has already had management problems, even worse, and finally moved towards the road of bankruptcy liquidation.

Because the company's operation and operation violated the Insurance Law, it had a huge impact on the ability of insurance to pay, mainly because the company's organizational structure was complex, the equity relationship was hidden, there were shareholders interfering in the operation of financial institutions, circular investment, cross-shareholding, and hidden interest chain transmission, so there were problems.

The root cause of a company's bankruptcy is that it does not run the company well, resulting in the company not making ends meet and incurring large debts.

Hello, this question is up to me, don't worry. If the insurance company fails, the policy you bought will not lapse due to the bankruptcy of the insurance company. Because there are relevant provisions in the Insurance Law, if an insurance company engaged in life insurance business is revoked or declared bankrupt in accordance with the law, the life insurance contracts and reserves held by it must be transferred to other insurance companies that operate life insurance business; If it is not possible to reach an assignment agreement with another insurance company, it shall be accepted by the insurance company designated by the insurance regulatory authority to operate life insurance business.

In other words, if the insurance company fails, the law stipulates that the CIRC will appoint another insurance company to take over the policies of the original insurance company. It is equivalent to changing an insurance company, but the rights and interests of the policy will not change. In addition, in order to prevent the bankruptcy of insurance companies, there will also be a series of regulations, that is, in the establishment of insurance companies, the process of operation is also guaranteed.

At the time of the registered capital, 20% of its capital is required to be deposited in the bank, and the money is used to pay off debts, and it cannot be used under any circumstances. There are also reserves, ready to fulfill insurance obligations at any time; The provident fund is the net profit saved by the insurance company for backup; Insurance protection** is to pay a huge amount of compensation that may occur, and the insurance reinsurance mechanism is that once the risk reaches a certain index, it needs to be insured in other insurance companies to diversify the risk. Therefore, the insurance policy insured by the insurance company is still protected by rights and interests.

Trillions of Anbang Insurance Group announced its dissolution and liquidation, which is related to the company's business strategy and the way and means of operation, the success of a company depends on his business strategy and means, the root cause of the company's bankruptcy, because the company's operation and operation violated the "Insurance Law" has a huge impact on the ability of insurance Oak Xun to pay, mainly because of the company's complex organizational structure, hidden equity relations, the existence of shareholders to interfere in the operation of financial institutions, circular investment, cross-shareholding, and the existence of hidden interest chain transportation, So something went wrong.

Extended information: 1. There is a certain degree of convertibility between the three procedures of reorganization, reconciliation and bankruptcy liquidation established by the bankruptcy law. Between them, the parties have a certain degree of freedom of choice. Specifically, the following points are included:

1) The debtor may choose to apply the reorganization procedure, the reconciliation procedure or the liquidation procedure when filing the bankruptcy application, and the creditor may choose to apply the reorganization procedure or the liquidation procedure when filing the bankruptcy application.

2) In the case where the creditor applies for bankruptcy liquidation of the debtor, before the bankruptcy is declared, the debtor may apply for reconciliation, and the debtor or its investors may apply for reorganization.

3) In the case where the debtor applies for bankruptcy liquidation, before the bankruptcy is declared, the creditor or the debtor's contributor may apply for reorganization, and the debtor can also apply for reconciliation.

4) After the debtor enters the reorganization procedure or conciliation procedure, it may be transferred to the bankruptcy liquidation procedure through bankruptcy declaration when there are specific reasons stipulated in the bankruptcy law.

5) Once the debtor enters the bankruptcy liquidation procedure through the bankruptcy declaration, it shall not be transferred to the reorganization or reconciliation procedure.

2. Composite provisions on bankruptcy.

The legal person of the enterprise cannot pay off the debts that fall due and the assets are insufficient to pay off all the debts.

1、"Inability to pay off debts as they fall due"That is, insolvency, also known internationally"Illiquid", also known as:"Cash flow criteria", the meaning of which is:"The debtor has ceased to pay its debts as they fall due and does not have sufficient cash flow to pay its existing debts due in the ordinary course of business"。The determination of insolvency is not a necessary condition that the creditor has filed a request for repayment.

2、"The assets are not sufficient to pay off all the debts", also known as:"Insolvency", internationally called"Balance sheet standards"It mainly refers to the fact that the sum of all assets on the balance sheet of the enterprise legal person is less than all its external debts. This criterion is based on the fact that insolvency is an indication of financial difficulties.

However, since this criterion relies on information under the control of the debtor, the use of the balance sheet criterion has certain limitations.

3. In the case of being able to prove that the enterprise exists at the same time"Inability to pay off debts as they fall due"with"The assets are not sufficient to pay off all the debts", there are good reasons for the enterprise to apply the bankruptcy proceedings. At this time, if the management of the enterprise neither applies for bankruptcy nor takes active measures to rescue the enterprise, resulting in the loss of the enterprise's property, or even carrying out the act of asset disposal or individual repayment that leads to the reduction of the enterprise's liability property, resulting in damage to the rights and interests of creditors, the relevant responsible persons shall bear legal responsibility in accordance with the provisions of Article 1 of the Bankruptcy Law.

Will insurance companies fail? Yes!

Anbang Insurance Group Co., Ltd. (hereinafter referred to as "Anbang Insurance") is one of the comprehensive group companies in China's insurance industry, with a variety of businesses such as property insurance, life insurance, health insurance, asset management, insurance sales, insurance brokerage, etc., including Anbang Luna Property Insurance Co., Ltd., Anbang Life Insurance Co., Ltd., Harmony Health Insurance Co., Ltd. and Anbang Asset Management Co., Ltd.

In 2004, Anbang Property & Casualty Insurance Co., Ltd. (hereinafter referred to as "Anbang Property & Casualty") was formally established.

In 2010, Anbang Life Insurance Co., Ltd. was established, and so far, Anbang Insurance has a number of licenses for property insurance, life insurance, health insurance, etc.

In 2012, Anbang Insurance Group Co., Ltd. was established. The registered capital is as high as 37 billion yuan.

In 2013, Anbang Pension Insurance Co., Ltd. was approved by the Insurance Regulatory Commission. Anbang Insurance Group became a comprehensive insurance group with a full license to operate.

In 2014, Anbang Insurance Group acquired the Waldorf Astoria Hotel in New York for $100 million. In addition, it wholly acquired FIDEA, a Belgian insurance company with a history of 100 years.

On February 23, 2018, in accordance with the relevant provisions of the Insurance Law of the People's Republic of China, the China Insurance Regulatory Commission decided to take over Anbang Group for a period of one year.

In March 2018, the China Insurance Regulatory Commission injected 60.8 billion yuan into Anbang Insurance Group through insurance protection**.

On February 22, 2019, the China Banking and Insurance Regulatory Commission (CBIRC) decided to extend the receivership period of Anbang Group for one year, from February 23, 2019 to February 22, 2020.

In June 2019, we established our insurance group. The registered capital is about 100 million yuan, and the shareholder structure is consistent with that of Anbang Group.

On February 22, 2020, the receivership was closed in accordance with the law. During the takeover period, the Anbang takeover team promoted the participation of Anbang Insurance Group in the restructuring of Anbang Group in accordance with the law, and the Group will acquire the equity of Anbang Life Insurance, Anbang Pension and Anbang Asset Management in accordance with the law, and set up Dajia Property Insurance, and acquire part of the insurance business, assets and liabilities of Anbang Property Insurance in accordance with the law, after which the Dajia Insurance Group was established.

On September 14, 2020, Anbang Insurance Group held a general meeting of shareholders, at which it was decided to dissolve the company and establish a liquidation group (preparation).