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2022-10-18
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Jiulong Property Insurance Co., Ltd. was approved to enter the insurance industry by SANY

Jiulong Property Insurance Co., Ltd. was approved to enter the insurance industry by SANY

China Construction machinery information

on March 30, the China Insurance Regulatory Commission officially approved the preparation for the establishment of Jiulong Property Insurance Co., Ltd. (hereinafter referred to as Jiulong property insurance). This insurance company, which is prepared by many equipment and machinery related enterprises led by SANY group, will become the first professional insurance company in the equipment manufacturing industry in China

Sany group took the lead in preparing for the establishment of high-end equipment manufacturing industry. According to the information of the official of the China Insurance Regulatory Commission, Jiulong property insurance was jointly funded by 15 companies, including Sany Group Co., Ltd., Zhuhai dahengqin Investment Co., Ltd. and Zhuhai Huachuang Investment Management Co., Ltd., with a registered capital of 1billion yuan. Sany group holds 20% of the shares. Xiang Wenbo, the proposed chairman, and Li Guoqiang, the proposed general manager. The company is registered in Zhuhai, Guangdong Province

it is understood that Jiulong property insurance aims at the high-end equipment manufacturing industry and will increase the additional price of equipment manufacturing products through the integration of industrial capital and financial capital. China 2102 Metallurgical Group Motor Company is mainly responsible for the preparation and installation of steel structures for red mud sedimentation, separation and washing, flocculant preparation, seed decomposition and seed filtration, mother liquor evaporation, equipment, pipelines, electrical instruments, and the production and installation value of non-standard equipment, Expand and strengthen the entire equipment manufacturing industry, and create the first brand of professional property insurance companies

"the development trend of the insurance industry from a global perspective shows that the development of professional insurance companies and the provision of professional insurance services will be the direction of the transformation and development of the insurance industry in the future." The relevant person in charge said that Jiulong property insurance adheres to the differentiated competition strategy, expands the insurance business in the field of insufficient effective supply of equipment manufacturing insurance by strengthening innovation, and forms a competitive advantage in the equipment manufacturing property insurance segment market, such as replacing the traditional epoxy adhesive and polyurethane adhesive products. "We are committed to building the company into an innovative property insurance company with core competitiveness and the first brand of China's professional insurance company, and will also cover the upstream and downstream industries of equipment manufacturing in the future."

insurance helps the equipment manufacturing industry develop for a long time and has unique competitiveness

in recent years, the technology and products of China's equipment manufacturing industry have been greatly improved, and some products even exceed similar foreign products, such as Sany's concrete machinery. However, the lack of professional insurance has been one of the factors restricting the development of the industry

in China, general property insurance companies lack scientific and reasonable judgments on equipment technical parameters, equipment construction risk points, and the operation proficiency of operators, and are unwilling to underwrite. Customers' willingness to adopt new advanced equipment is greatly affected, which seriously restricts the upgrading of new equipment, and then directly affects the development of the industry. In the process of "going out", especially in developed countries such as Europe and the United States, the more important thing is that the security of the system will be greatly affected. If you don't buy corresponding insurance, some products can't even pass customs. Even if there are insurance products that support the export of Chinese products, they are far from meeting the requirements of enterprises in terms of claims settlement services due to lack of professionalism and expertise

now, Sany group takes the lead in assembling agents to set up property insurance companies. Underwriting through property insurance companies can enhance the added value of equipment manufacturing products and provide risk protection

Sany group, the main shareholder of Jiulong property insurance, is a leading enterprise in China's equipment manufacturing. Sany's product line mainly includes concrete machinery, road building machinery, excavation machinery, piling machinery, hoisting machinery, etc. Among them, concrete machinery, piling machinery and crawler crane machinery are the first brands in China, and concrete pump trucks have fully replaced imports. The domestic market share has reached 57%, ranking first in China, and the production and sales volume has ranked first in the world for many consecutive years. Once established, Jiulong property insurance can rely on the advantages of Sany group to make up for the gap in the equipment manufacturing industry where few insurance companies actively participate, and provide customers with the most professional insurance services

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