BYD property Insurance obtains the qualification of operating Automobile Insurance

CTOnews.com November 8 news, the State Financial Regulatory Administration disclosed the approval documents, agreed to Shenzhen BYD property Insurance Co., Ltd. (hereinafter referred to as BYD property Insurance) to change the scope of business. BYD property insurance business scope added "motor vehicle insurance, including motor vehicle traffic accident liability compulsory insurance and motor vehicle commercial insurance." This also means that BYD has acquired the qualification to operate auto insurance after acquiring Yi'an property Insurance.

At the same time, the General Administration of Financial Supervision also approved Li Ruyi as deputy general manager of BYD property insurance and secretary of the board of directors. Public information shows that BYD Communication signal Co., Ltd., a wholly owned subsidiary of BYD, has a deputy general manager named Li Ruyi.

CTOnews.com noted that in May this year, the approval documents disclosed by the original Bank Insurance Regulatory Commission showed that BYD Automotive Industry Co., Ltd. had agreed to transfer 1 billion shares of Yi'an property Insurance to 100%. Subsequently, Yi'an property Insurance changed its name to BYD property Insurance. In July, BYD added 3 billion yuan to BYD's property insurance, bringing the latter's registered capital to 4 billion yuan.