Livit Life Insurance

Livit Life Insurance

Livit Life Insurance launched in 2005 as the insurance arm of the Cathay Fortune (Hongshang) Group, the Chinese industrial conglomerate controlled by Yu Yong. Cathay Fortune's holdings span global mining through CMOC Group and a strategic stake in Contemporary Amperex Technology Co., Limited (CATL), the world's largest electric-vehicle battery manufacturer. Livit was structured not as a standalone carrier competing for retail market share, but as a captive insurer designed to underwrite risks tied to the group's own operations and workforce while managing a general-account portfolio that moves in lockstep with Cathay Fortune's strategic priorities. Livit's product mix centers on life, health, and accident insurance, serving a policyholder base concentrated among the group's employees and affiliated industrial ecosystems. The investment side of the balance sheet operates less like a conventional Chinese insurer's fixed-income book and more like a strategic co-investment vehicle. Through shared directors Lin Jiuxin and Jiang Li — who hold seats at CMOC and CATL, respectively — Livit's capital allocation is wired into the deal flow of two of China's most consequential commodity and clean-energy enterprises. The firm maintains branch licenses in Beijing and Changsha, extending its regional reach beyond the Shanghai headquarters into northern and central China. Livit's listed registered capital sits in Beijing, while its operational headquarters are in Shanghai's Hongkou District. The firm participates in the Asset Management Association of Shanghai, connecting it to the city's financial regulatory and institutional-investor community. Team size and premium volumes remain undisclosed, consistent with a captive insurer that does not publicly report standalone financials. The tripartite relationship between Livit, CMOC, and CATL — forged through shared directors and common ownership — creates a de facto internal capital market where insurance float can support group initiatives across mining, metals processing, and battery technology. What distinguishes Livit structurally is its identity as a conglomerate-captive insurer in a market dominated by either massive state-backed carriers or independent joint-stock companies. Rather than optimizing for policyholder growth or third-party distribution, Livit functions as a balance-sheet tool that pools and reinvests the group's own insurance premiums. This architecture gives Yu Yong's empire a closed-loop financing channel — life insurance liabilities funding equity co-investments — that mirrors the Berkshire Hathaway model adapted for Chinese industrial conglomerate law and regulation.