National Pension Insurance
Specialized provider of China's third-pillar pension insurance.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | Growth Equity non VC | |
| Total Funding | 000k | ||
National Pension Insurance Co., Ltd. (Guomin Pension) is a specialized financial institution established to advance China's multi-pillar pension system, specifically focusing on the third-pillar, which involves personal commercial pension plans. The company was officially launched on March 22, 2022, with a substantial registered capital of over 11.1 billion yuan, positioning it as a major entity in the sector. Its legal representative is Huang Tao.
Guomin Pension was founded by a consortium of 17 prominent domestic financial institutions, including the wealth management subsidiaries of six major state-owned banks, several joint-stock banks, leading securities firms, and insurance companies. This diverse shareholder base, which breaks the mold of insurance-only ownership in the pension sector, provides a strategic advantage in distribution channels and product development. In a significant milestone, Allianz Global Investors became the first foreign shareholder in 2024, acquiring a 2% stake and underscoring international confidence in China's growing private pension market.
The company's business scope encompasses a range of pension-centric financial products and services, including annuity insurance, life insurance, health insurance, and accident insurance. It also manages commissioned pension funds and offers related consulting services. Guomin Pension aims to develop and provide accessible, stable, and commercially sustainable pension products for the general public, addressing the challenges of an aging population. One of its initial offerings was an annuity product distributed through major Chinese banks, with a focus on creating innovative, market-oriented solutions. The company is a key participant in the pilot program for commercial pension business, with its products included in the first official list for personal pension schemes.
Keywords: third-pillar pension, commercial pension insurance, annuity insurance, retirement savings, pension fund management, China pension market, personal pension scheme, financial services, asset management, life insurance, health insurance, wealth management, institutional investors, retirement solutions