After more than three months of deregistering Tesla Insurance Brokerage Co., Ltd., Tesla recently made another move and established a new insurance brokerage company.
Tesla Insurance Broker (China) Co., Ltd. was established as a center
Tianyancha shows that Tesla Insurance Broker (China) Co., Ltd. was established on July 30th, with Zhu Xiaotong as the legal representative and chairman, a registered capital of 50 million yuan, and a business scope of insurance brokerage.
In terms of shareholder information, Tesla Insurance Services Limited holds a 100% stake and is the controlling shareholder and actual controller of the company.
Fund Jun noticed that Tesla Insurance Broker (China) Co., Ltd. had already appeared in the enterprise name declaration and registration announcement released by the State Administration for Market Regulation on July 5th.
Prior to Tesla Insurance Brokers (China) Co., Ltd., Tesla had established Tesla Insurance Brokers Co., Ltd. in August 2020, which also engaged in insurance brokerage business. The registered address is the second floor of No. 5000 Jiangshan Road, Lingang New Area, China (Shanghai) Pilot Free Trade Zone, which is the location of Tesla's Shanghai Gigafactory.
However, since the establishment of Tesla Insurance Brokers Limited, they have not obtained an insurance broker license. In late March of this year, the company was applied for simplified deregistration, and on April 16th, its status was officially changed from existing to deregistered.
In terms of car insurance business, Musk has stated that Tesla wants to launch cheaper, better, and even "revolutionary" car insurance services. In the US market, Tesla's insurance products are mainly linked to the rating of its safety system, which is based on the owner's driving data and behavior, and the premium will also be adjusted according to changes in the safety rating.
In April of this year, Tesla obtained the "Green Label" for data security, becoming the first foreign car company in China to pass relevant national standards.
Foreign institutions continue to increase investment in the Chinese insurance market
In June this year, Li Yunze, secretary of the Party Committee and director of the State Administration of Financial Supervision, delivered a keynote speech on "Promoting high-quality development of the insurance industry and helping Chinese path to modernization" at the Lujiazui Forum. He said that opening up is an important driving force for the reform and development of China's financial industry. We will adhere to the equal emphasis on "bringing in" and "going out", continue to create a first-class business environment, and resolutely expand the high-level opening up of the financial industry to the outside world. Steadily expanding institutional opening-up, studying the relaxation of the scope of foreign shareholders for non bank financial institutions, encouraging qualified foreign institutions to participate in various business pilot projects, and supporting foreign institutions in China to deeply cultivate and operate steadily.
In recent years, the pace of China's insurance industry opening up to the outside world has accelerated, and foreign institutions have continued to increase their investment in the Chinese market.
In July of this year, after two years of preparation, the Beijing branch of Manfu Reinsurance Company, a global professional reinsurance company, was approved for opening, and the number of foreign-funded reinsurance companies in China increased to 9.
In June, National Pension announced that the company plans to issue 227.551 million new shares, increasing its registered capital from 11.15 billion yuan to 11.378 billion yuan. The newly issued shares will be fully subscribed by the newly added shareholder Allianz Investment Co., Ltd.
In May, China Petroleum Group Capital Co., Ltd. was approved to transfer the equity of China Italy Property and Casualty Insurance. After the transfer was completed, Italy Zhongli Insurance Co., Ltd. became a wholly-owned shareholder of China Italy Property and Casualty Insurance. Zhongyi Property and Casualty Insurance has also become another foreign-owned insurance company after insurance companies such as AIA Life, Allianz Life, and HSBC Life.
In addition, in January and March of this year, Angu Fangsheng Insurance Brokerage Co., Ltd. and BMW (China) Insurance Brokerage Co., Ltd. opened successively. These two companies were both approved to operate insurance brokerage business in November last year, becoming the only two professional insurance intermediaries to obtain insurance brokerage licenses in the past six years.