Signing of Comprehensive Insurance Cooperation Agreement between Sunshine Insurance and CHINALCO

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   On Jan.16th, 2006, the Sunshine ceremony of Comprehensive Insurance Cooperation Agreement between Sunshine Insurance and Aluminum Corporation (CHINALCO) was held in the Diaoyutai State Guesthouse, Beijing.

    According to the agreement, the two parties will carry out all-dimensional insurance cooperation on CHINALCO and the enterprises affiliated to CHINALCO；Carry out comprehensive cooperation in the fields of risk management, insurance consultancy and advisory of CHINALCO； Carry out all-dimensional cooperation in the individual insurance services of the employees of CHINALCO and other consultations and co-operations in areas which suit to their mutual needs.

    According to the agreement, the varieties of insurances which can be accepted by Sunshine Insurance in 2006 include Property Insurance, Machinery Breakdown Insurance, Construction Insurance, Cargo Transportation Insurance, Public Liability Insurance, Products Liability Insurance, Manager Personal Accident Injury All Risks Insurance, Staff Accident Insurance, Auto Insurance and so on. Other fields which can conduct co-operations also include the risk assessment of CHINALCO and the introduction of world advanced insurance management conceptions.

    Some related people pointed out that because of the strong ability to accept insurances, advanced management and competent employees of SPCICL, CHINALCO decided to conduct comprehensive cooperation with Sunshine Insurance.

    CHINALCO is a national- authorized investment management Shareholding Corporation, also one of the 53 key corporations directly under the management of the central government. It is the largest non-ferrous production corporation in China, the third largest Aluminum corporations of the world. Recently, its production of Aluminum Oxide ranks the second around the world and its production of electrolytic Aluminum ranks the first in China. Also, it has the largest scale of Aluminum processing in Asia. Its aggregate assets amount to 110 billion yuans and its rate of maintaining and increasing the asset value, earning rate of net assets and profit-earning capability all rank among the top of the key enterprises. In 2005, the profits earned by CHINALCO set a record high. Recently, the stock price of CHINALCO is the highest among its world-wide competitors in the New York Stock Exchange, which is awarded as the “No.1 stock in the world Aluminum industry” by stockholders. These achievements are hard-earned. CHINALCO tries to ensure the maintenance and increase of the asset value through scientific and rational risk management. As a result, CHINALCO decides to re-formulate and integrate the corporation insurance through the comprehensive cooperation with professional insurance company, take better advantage of the insurance management experiences and means both home and abroad so as to provide the businesses of CHINALCO with a more effective risk management protection with a most rational and efficient insurance cost payout.
　

Publish date：2006-1-17