On February 24, 2017, The opening ceremony of Huagui Life Insurance company was held at the Guiyang International Ecological Conference Center. This new insurance company was co-sponsored by Guangzhou Maillot Distillery Group, HuaKang Financial Holding Group and other 11 shareholders. Local business celebrities, such as Bin Rupee, Guizhou Provincial Party Committee, Deputy Governor, Li Baofang,Guizhou Maotai Group Party Secretary, General Manager, Wang Zhenwu, Director of YRIC, Chairman of the board of Huagui Life Insurance company, Li Yao, Director of Guizhou Provincial Finance Office, Yao Qinghai, Director of China Insurance Institute, attend this activity.

Figure: Wang Zhenwu, Director of YRIC, Chairman of the board of Huagui Life Insurance company

Huagui Life Insurance have a registered capital of CNY 1 billion, and it relies on Maotai Group's outstanding brand power and HuaKang Group's ten-year professional precipitation in finance. The aim of this company is to become a specialized new insurance company, focusing on insurance product innovation and improving after-sales service experience. 

Figure: Wang Zhenwu, Director of YRIC, Chairman of the board of Huagui Life Insurance company

It is reported that local government and regulatory authorities highly concerned about the establishment of Huagui life insurance Co., because its establishment will bridge the gap between local insurance company and other provinces. The premiums collected by existing insurance branches will all transferred to their head offices, and they have no authority in arranging them. However, the establishment of Huagui insurance company will help local development by attracting capitals. Guiyang local government hopes to strengthen the strategic cooperation with Huagui insurance, setting up institutions, gathering talents, innovating business models, expanding insurance services, boosting local economics and etc.

Figure: Wang Zhenwu, Director of YRIC, Chairman of the board of Huagui Life Insurance company

Huagui Insurance as a national financial institutions founded by Huakang group symbolized that Huakang gold control extended its business field from the downstream sales side to the upstream product design side. The  layout of Huakang’s development becomes more clear. In the future, Huakang gold control will select high-quality insurance, financial products, integrated platform to optimize customer service experiences. In regard with platform integration, it will gain the competitive advantage by upgrading reshuffling the immediate situation.

Huakang Financial Holding Group has three major business segments: insurance, finance and investment. At present, it has set up 20 branches and more than 200 sales departments in the country. It has more than 15,000 contracting agents and serves more than 3.5 million customers. It will be in line with China's financial regulatory and industry reform trends and build China's best insurance + financial retail services company!