On June 30, 2017, China Merchants Renhe Life Insurance was officially established with the approval of the former China Insurance Regulatory Commission, marking the successful resumption of China's first ethnic insurance company. The century old Renhe brand under China Merchants Group has been passed down, and the history of China's ethnic insurance industry has been advanced by more than half a century.
China Merchants Renhe Life Insurance has a registered capital of 6.599 billion yuan and was jointly initiated and established by China Merchants Group, China Mobile, and China Aviation Information Technology Co., Ltd., in collaboration with multiple enterprises.
As an insurance company controlled by a central state-owned enterprise, China Merchants Renhe Life Insurance will follow the development laws of the financial and insurance industry and the principle of "insurance surnamed insurance", follow a market-oriented, professional, and differentiated innovation driven development path, and continue to promote the implementation of the sixteen character policy of "value leading, innovation driven, technology empowerment, and risk control protection". Adhere to the concept of dynamic and balanced development of quality, efficiency, and scale, and regard value growth as the main goal of company operation and the main guide for formulating business plans and market strategies. Continuously promoting innovative development from five aspects: product and service innovation, business model innovation, industrial chain innovation, and organizational process reengineering, continuously meeting customer expectations for better products, warmer services, faster claims settlement, and more stable profits. Deepen the research and application of emerging industries such as financial technology, life technology, and green technology, strengthen the empowerment and leading role of technology in the entire life cycle of business, accelerate the empowerment and innovation in product design, customer service, intelligent risk control, intelligent operation, sales channels, health management, asset allocation, and other links and fields, and cultivate the core competitiveness of smart insurance business. Make risk control the most important guarantee system for the company, fully integrate comprehensive risk management into strategic and business processes, continuously improve the risk management system that covers the entire business and process, and ensure the healthy and orderly development of the company. In the future, China Merchants Renhe Life Insurance will fully leverage its shareholder and latecomer advantages to build itself into an innovative boutique insurance service provider.