Huaxia Insurance was taken over by China Life Health Industry Investment Co., Ltd. for a period of one year, from July 2020 17 to July 2026 16. To be exact, Huaxia Insurance was taken over by China Life Health Industry Investment Co., Ltd., a subsidiary of China Life Insurance. Huaxia life insurance was taken over because of insufficient solvency. China's regulatory authorities require that the solvency of insurance companies should not be less than 130% of their net assets. Less than 130% shall be supervised by key enterprises, and less than 100% shall be taken over by enterprises designated by the state. Companies that take over are generally state-owned enterprises. The company that took over Huaxia Life Insurance is China Life Health, a subsidiary of China Life Insurance. The state does this to guard against financial risks. After being taken over, China Life can operate normally, and the policyholders and policies will not be affected.