Sunshine Insurance Plans to List on HKSE: Total Premium Income of CNY 62.9 Bn in H1 2022

Financials Author: 杨斯怡 Dec 05, 2022 11:24 AM (GMT+8)

Chinese insurance companies' overall revenue performance trending positive


Sunshine Insurance Group (Chinese: 阳光保险集团) has recently passed the listing decision of the Hong Kong Stock Exchange. According to the post-decision information, the joint sponsors of the company are Huatai Securities (Chinese: 华泰国际)、CICC (Chinese: 中金公司)、UBS (Chinese: 瑞银集团) and CCBI (Chinese: 建银国际).

The funds raised will be used to strengthen the company's capital base to support the continued growth of the business.

Sunshine Insurance is a Chinese private insurance services group, operating life and health insurance through Sunshine Life, property and casualty insurance through Sunshine Property and Casualty, and managing funds through Sunshine Capital Management. Sunshine Insurance may become the tenth listed insurance company in China.

In terms of operating results, Sunshine Insurance's total premium income showed an overall growth trend, but net profit declined in the first half and first three quarters of 2022. From 2019 to 2021, the company achieved a total premium income of CNY 87.91 billion, CNY 92.57 billion and CNY 101.76 billion, respectively. The total premium income in the first half of 2022 was CNY 62.95 billion, an increase of 14.31% compared with the same period of the previous year.

The Five famous insurance companies in China include China Life Insurance Company Limited (Chinese: 中国人寿, China Life, 601628:SH), Ping An Insurance (Group) Company of China, Ltd. (Chinese: 中国平安, PingAn, 601318: SH), The People's Insurance Company (Group) of China Limited (Chinese: 中国人保, PICC, 601319:SH), China Pacific Insurance (Group) Co., Ltd. (Chinese: 中国太保, CPIC, 601601:SH), and New China Life Insurance Company Ltd.(Chinese:新华保险, NCI, 601336:SH).