China Bohai Bank, A New Partner for Sunshine Insurance

From：Sunshine    Author：Guihong Zheng  Editor：Zhao Wang  Hits：

So far, there are nine national commercial banks signing the All-round Cooperation Agreement with Sunshine P&C Insurance, a major subsidiary of Sunshine Insurance Group.

On June 10, 2008, Sunshine P&C Insurance signed the All-round Cooperation Agreement with China Bohai Bank in Beijing, which is the ninth national commercial bank establishing cooperation with Sunshine P&C Insurance after China Merchant Bank, Industrial & Commercial Bank of China, China Construction Bank, China Agriculture Bank, Huaxia Bank, China Everbright Bank, Agriculture Development Bank and Shenzhen Development Bank.

By setting up a partnership with China Bohai Bank, Sunshine P&C Insurance is hoped to fasten deep cooperation in the fields like insurance agency, bank card business, financing products, information exchanges and training through integrating resources, complementing advantages and mutual benefits so as to provide multilateral, all-round bancassurance services, constantly improve cooperation levels and commonly push the development of insurance industry.

Found on July 28, 2005, headquartered in Beijing, Sunshine P&C Insurance is a nationwide insurance company mainly engaging in P&C Insurance. It reported a premium income of 1.75 bln yuan in 2006, a premium income of 4.15 bln yuan and a profit of 23.08 mln yuan in 2007. By the end of 2007, Sunshine P&C Insurance soared to Top 10 in the market ranking.

China Bohai Bank operated formally on February 16, 2006, with a registered capital of 5 bln yuan, whose shareholders include Tianjin Taida Investment Holding Co., Ltd., Standard Chartered Bank (Hongkong) Co., Ltd., China Ocean Shipping (Group) Company, Baosteel Group Corporation Ltd. as well as China National Investment Corporation Holding. By the end of 2007, its total assets topped 32.49 bln yuan and the profits after tax reached 45.66 mln yuan. Currently, China Bohai Bank has branches in Tianjin, Beijing, Hangzhou, Taiyuan and Binghai along with preparing Chengdu branch, which demonstrates a nice development trend in terms of branch building, business operation, corporate governance, new products as well as finance innovation.

Publish date：2008-6-20 15:08:37