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| Company type | Private |
|---|---|
| Industry | Financial services,Life insurance |
| Founded | 1996 |
| Founder | Chen Dongsheng |
| Headquarters | , |
Area served | People's Republic of China |
Key people | Chairman: Mr. Chen DongshengExecutive VP/CFO: Dr. Jou David |
| Products | Life & Health insurance |
| Divisions | Taikang Asset Management |
| Subsidiaries | Taikang Property Investment Co., Ltd. Taikang Pension Co., Ltd. |
| Website | www.taikang.com |
Taikang Life Insurance Company Limited is aBeijing-based,China-incorporatedlife insurance company, the fourth largest life insurer by premium income in China,[1] offers services ranging fromlife insurance toasset management. It was founded in 1996 by CEO Chen Dongshen, a businessman related toMao Zedong. The company has branches inBeijing,Shanghai,Hubei,Shandong,Guangdong and in other locations. In 2016, it acquired a 13.5% stake inSotheby's, becoming the largest shareholder of the New York–based auction company.
Its headquarters is in the Taikang Life Building (泰康人寿大厦) inXicheng District.[2]
Taikang Life Insurance Co. Ltd. was founded on August 22, 1995, after approval from thePeople's Bank of China, as a national corporation headquartered inBeijing. Under the guidance ofchairman and CEO Chen Dongsheng, Taikang Life Insurance has experienced steady growth from its inception.
From 2006 to 2007, Taikang created the two subsidiariesTaikang Asset Management Co. Ltd. andTaikang Pension Co. Ltd., the former being one of the largest investment corporations in Mainland China (winning the "21st century Gold Shell Prize" in investment performance for four consecutive years) and the latter being one of the first corporations to obtain government approval for the development of aretirement community.Taikang Property Investment Co. Ltd., which focuses on higher risk, opportunistic investments especially in conjunction with real estate and retirement community projects, was created in March 2010. Taikang Life's premium revenue in 2010 totaled 86.8 billionyuan, representing a year-on-year increase of 29%, and after-tax profits totaled 2.1 billionyuan.
In 2011,Goldman Sachs acquired a 12.02% stake (102.48 million shares) in Taikang Life Insurance fromAXA Life Ltd.[3] Taikang Life is preparing for aninitial public offering on both theShanghai andHong Kong stock exchanges.[4]
Taikang Life had end-of-year total assets totaling 500 billionyuan and net company assets totaling 12.5 billion yuan in 2011.[5] Taikang has 35 branches throughout China.[6]
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