Reported 7 months ago
During their shareholders' meetings on June 14th, 2024, both Sheng Yuan and Yuan Xiong Life Insurance approved strategies to raise funds and attract strategic investors, aiming to increase their Risk-Based Capital (RBC) ratio above 200%. Sheng Yuan Life revealed plans to evaluate initiatives strengthening capital, focusing on financial strategies to enhance capital resiliency, stabilize income, increase profits, align with accounting standards, optimize sales channels, and improve business value. Yuan Xiong Life distributed stock dividends and revamped their board with Zhao Xinqing and Zhao Wenyu joining, marking Zhao Xinqing's return after six years. Both insurers have been actively working on capital strengthening programs to navigate market fluctuations and enhance profitability and net worth.
Source: YAHOO