Aviva-Cofco Asset Management Co., Ltd. got approval of China Insurance Regulatory Commission (CIRC) for establishment on June 26, 2012. It is co-founded by COFCO-AVIVA Life Insurance Co., Ltd. (41%), SINATAY Life Insurance Co., Ltd. (34%), China Resource SZITIC Trust Co., Ltd. (20%) and Shanghai Vstone Investment Management Co., Ltd. (5%). Its registered capital is RMB 100 million. And its domicile is in Beijing.
Aviva-Cofco Asset Management Co., Ltd. is the first company of its kind of which the principal founder is an insurance joint venture and which is co-founded by an insurance company and other financial institutions.
China Resource SZITIC Trust Co., Ltd. and Shanghai Vstone Investment Management Co., Ltd. are both market leader of trust and private placement respectively. They deliver outstanding performance in trust, wealth pool management and investment in securities. They will be very helpful to enhance the new company's competitiveness.
With the support of these shareholders, the new company is enabled to make good use of its inborn advantages in managing insurance capital and offering a variety of asset management service to different kinds of customers.
As the new policy issued by CIRC, insurance companies and insurance capital they manage are allowed to play in products which before were only allowed to be dealt with by banks, securities companies and trust companies. There are great opportunities ahead.
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