The Research Of The New Times Insurance Companies' Tactics On M&A And Anti-M&A

After the entry of the WTO, Chinese financial trade has open totally, meanwhile, the environment of economy has been perfected, which makes the conditions of mergers and acquisitions be matured, which offer the useful guarantee for the mergers and acquisitions, and anti-mergers and anti-acquisitions.This thesis deems that the mergers and acquisitions related to the insurance will be frequent and abundant, in the conditions of the radical tendency of economy globalizing, the increasing capacity of insurance market, the increasing attraction of insurance market, the increasing rapidly speed of cash flow, the increasing number of insurance organ, the rapid phenomenon of homogeneity of insurance product.The new times insurance companies which came into existence after 2000, when the China Insurance Regulatory Commission became to agree to examine and approve the new insurance company. Their holding capacities belong to the state, or collectivity, or civilian. Being in the developing existence period, the requirement of insurance company for capital, the ability to indemnify, the continuous cash flow, the competitive capability, the adaptation to the market, and the desire for continuous development, which decide the new times insurance companies have the needs which expand outside, purchase the operation cell or companies that can enhance the comprehensive competitive capacity, anti-risk capability, immediately forme the comprehensive financial insurance groups, which have formed the strong cooperating effectiveness of development, enhancing the ability to resist the risk.Meanwhile, because of shortage of total share capital, fairly full branch network, the high original level of inside management, the strong basis of IT, the fairly high level of risk control, and nearly no historical bundle, etc, the new times insurance companies are easily to become the object which other companies want to merger with and acquire. So, new times insurance companies'tendency of mergers and acquisitions become stronger in the long term. Although the research area on mergers and acquisitions is wide, the research is little attended to the new times insurance companies'tactics on mergers and acquisitions, and anti -mergers and anti-acquisitions. So this thesis'selected topic and research is full of innovation.The object of this thesis is finding the useful tactics for smoothly completing the mergers and acquisitions, and anti-mergers and anti-acquisitions, fulfilling the development needs for the new times insurance company, through the analysis about the situation and example of mergers and acquisition of insurance company, the characteristics of the new times insurance companies, the tendency of mergers and acquisition of insurance company. The research method of this thesis includes strategic analyzing method, comparing research, and example analyzing method.The outcome of this thesis, is finding the systematic tactics. On mergers and acquisitions, it includes pro-analysis, drawing up the strategy, the specific preparation and applying, the restructurings on the organ, company culture, and the system of operation. On the anti-mergers and anti-acquisitions, it includes formatting the cultivating environment of supporting anti-mergers and anti-acquisitions, and specific execution of anti-mergers and anti-acquisitions.Meanwhile the innovation of research on tactics on mergers and acquisitions, and anti-mergers and anti-acquisitions, which makes itself have two aspects of practical research value. Firstly, it promotes the resource into reasonable configuration. Through the research of this area, the reasonable tactic and the applying methods and routes enhancing the comprehensive competitive capability are found, which can promote the resource into reasonable configuration and the wholly insurance trade into the healthy path.Secondly, it offers the useful guidance. This research of the above area can offer the government the useful suggestions about supporting the reasonable mergers and acquisitions of insurance trade; offers the regulatory commission the useful anti-risk suggestion about useful regulating, standing up for the order of market, improving the efficiency of market; offers the decider of new time's insurance company the useful strategic suggestion about enhancing the competitive ability, executing the reasonable mergers and acquisitions. Meanwhile, this thesis strives to provide other financing trade some certain guidance for mergers and acquisitions.