Safely give up the expansion of overseas financial crisis or by the insurance industry reshuffle

U.S. loan crisis meeting has evolved into a global financial crisis, domestic insurance industry is also deeply tired. October 8, the three major domestic insurance shares were down deep rate, China Life Insurance (601,628, it shares), China Ping (601,318 stock it) fell more than 9%.

In response, many in the industry and experts said that the financial crisis is also opportunity and a challenge, especially for market leaders, may be the first time the value of mergers and found time to pursue it. China's insurers "going out" strategy, should be more careful and pay attention to long-term gains.

Safely give up overseas expansion

Ping An of China recently announced that the company's decision to terminate its investment in Fortis Investment Management 50% stake in the agreement and intends to three 2008 Quarterly Bulletin of the Group of Fortis shares 15,700,000,000 yuan for investment impairment.

The industry said the investment would be offset by Fortis Jukui of peace in the first three quarters of profits and force the company to stop the overseas expansion plans. Give up the acquisition of Fortis Investment Management may be a positive act as a catalyst.

According to statistics, in 2007, Ping An of China net profit for the year 19,219,000,000 yuan. In the first half of this year, down by the capital markets, and other factors, Ping An of China in the first half net profit 7,310,000,000 yuan the same period last year dropped 12.2 percent. According to the Oriental Securities analyst basis, the three peace Quarterly Bulletin (in accordance with International Financial Reporting Standards) will be reported losses 2,000,000,000 yuan, basically the whole year in the vicinity of the break-even.

It is understood that by the end of November last year, Ping An average price of 19 euros per share to Fortis Investment Group; As of Oct. 3, Fortis shares for 5.41 euros. At present, China Ping An Fortis Group holding 4.99 percent stake in its investment Yi Suoshui more than 70%.

To the insurance industry or to re-shuffle

In addition to Ping An of China, other insurers have also been meeting U.S. loan crisis burn up. To China Life, for example, the New York-listed stock price has always been in the doldrums. Data shows that since October last year, so far, China Life's share price from the highest 106.63 U.S. dollars / share fell to 52.21 U.S. dollars / share (Oct. 3).

In a joint venture insurance companies, as foreign investment in this time of global credit crisis may be affected the extent of its direct impact on the conduct of business in China, will indirectly affect the whole Chinese insurance industry.

, A senior insurance industry analyst that the U.S. sub-loan crisis for the insurance industry in China is a huge test of China's insurance industry will face one of the industry, "shuffle", including foreign investment in the division of insurance, insurance agencies and so on, ranking May change.

The merger is also a good time

Zurich Financial Services Group of advisers member of the Investment Management also believes that the time of its loan crisis, was a very good investment opportunities through mergers and acquisitions will be able to further improve its market share.

There are also many domestic enterprises out of AIG previously favored an increase in the Hydrangea. It is reported that at present, including China Life, the strength of domestic and foreign financial and insurance institutions, to acquire all of AIG's insurance business showed a keen interest. AIG as a result of the Chinese people have property insurance Co., Ltd. 9.9% stake, is the People's Insurance Insurance of strategic investors. The People's Insurance Group life insurance business is in catching up and surpassing the current stage of development. As a result, there are rumors here that PICC shares of AIG's far more likely to be friendly.

In this regard, the Chinese People's Insurance Group President Wu Yan said on the 7th in Beijing, AIG recently regard to the People's Insurance will be given a clear statement, "Our attitude is that if they encountered difficulties, Baoding people will be saved shot."

Universal insurance settlement rate of collective investment diving face cross-examination (Summary)

Universal insurance settlement of the collective interest rates safe diving, Taikang their difficulties

(And the original hearing Financial)

Abstract: The China Insurance Regulatory Commission a piece of paper warning that universal insurance rates Biao World War brake abruptly. According to our statistics, 24 insurance companies, 14 companies on the settlement of the month interest rates were lowered, including Taikang Life, Taiping Life, and other pre-settlement high interest rates have been strong. The industry said, clearing the general interest rate cut, in addition to its own turbulent market conditions, a very important reason is that in mid-August the China Insurance Regulatory Commission held the "rectification". [Details]

(And the original hearing Financial)

Half of the 5.19 percent below the horizon and risk everything to face cross-examination of investment

(And the original hearing Financial)

Abstract: universal insurance, the real return on investment looks like a Box, unpredictable mystery. However, no nothing new under the sun. Despite, and even to vote, universal risk of actual investment earnings appears to be changing, however, by insurance companies to simplify the subject of investment for fixed-income category and the rights and interests of the two major categories, based on the principle of security by the end of the first, can still probably the Restricted View Truth investment income. [Details]

(And the original hearing Financial)

Skandia Life of offensive and defensive tactics for even playing the "universal card" selling

(And the original hearing Financial)

Abstract: In this bleak capital of the season, Skandia Life does not end the durability of its market since the second vote even loneliness, starting Wen Ying Rui won the election and the election of two five-year universal insurance products, Universal announced the formal accession to the World War risk insurance rates. The industry that universal insurance billing rate to some extent, is a marketing strategy, the launch of Skandia's products on time to raise interest rates is a reasonable settlement, but because of adverse market conditions, the settlement of interest rate products increased only 0.05 %. [Details]

(And the original hearing Financial)

- Related to reading --

(And the original hearing Financial)

Paul Silver-year rate of 5.5 percent down safely behind universal insurance settlement rate

(And the original hearing Financial)

Qi lower insurance rates universal insurance settlement "hot money" via Hong Kong

(And the original hearing Financial)

Universal insurance rates lift the China Insurance Regulatory Commission diving silver collective security "purge" storm

(And the original hearing Financial)

Die Die stock market downturn over the new universal risk taking over the market lead

(And the original hearing Financial)

Universal insurance time bomb or not to allow insurance companies a sense of security

(And the original hearing Financial)

Universal insurance settlement rate fell Bank and Insurance premium growth rate in August to cool down

(And the original hearing Financial)

Paul Silver, "cool" end effect in September marked reduction in premium growth

"From August of the life insurance premium data, Jian Guanceng designed to regulate insurance business of Bank of cool action and tangible results can not be seen, once in September to operate the data released, the premium growth rate will be reduced rather Obviously. "Recently, the industry authorities told reporters that the upcoming January 2008 to September within the insurance industry, is expected to appear life insurance premium growth, especially in Bancassurance channels of premium growth slowed down significantly .

As a result of the capital market remains in the doldrums and the pattern of turbulence, investors in the "hedge" the role of psychological factors, the year in January to August of life insurance premiums, is still continuing since the first half of the high-growth. According to CIRC statistics show that by the end of August ended, the life insurance industry is still the same period last year premium income increased 66% more than in the first half of this year, with growth in life insurance premiums of more than 60% in July year-on-year growth rate of 66.7% no Letter; Bank and Insurance in July in which the premium channel revenue growth of 159.6 percent year-on-year, far more than the whole life insurance premiums of more than 66% increase; some of the life insurance business of the Bank Enterprise gone up by almost 200% year-on-year.

As an important behind-the-scenes "Pushing Hands" Bancassurance business, in August this year to become the natural life of the National Work Conference of the key objectives of regulation. The reason is that the Bank operational security "over the" Behind the life insurance industry has been cut-throat competition fees and new business profit margins decline, apparent pressure on the solvency and other issues.

Chen was assistant to the chairman of the China Insurance Regulatory Commission said at the meeting that the bank supervision department from the insurance to start as soon as possible to control the growth rate of life insurance business, concentrating on business restructuring, in order to avoid negative growth next year or so of ups and downs of low growth and achieve industry The "soft landing." As a result, the China Insurance Regulatory Commission put forward a clear channel for banks to lower the premium growth, lower interest rates and dividend rates universal insurance settlement to the long-term sustainable level, stringent control over non-payment of fees, and other specific requirements.

It is reported by the China Insurance Association of China in the second half of 2006 but has not released the implementation of the "banks, the postal insurance agent self-discipline" (referred to as "the" Convention ""), currently being re-presenting the "strict implementation of Security Bank of the insurance procedures The maximum rate of pay. " At present, China's insurance industry requirements of the National Association of provincial and municipal branch of the Revised Scheme as soon as possible, as soon as possible in order to promote the standardization work on the right track to enter the final of the insurance market in the formation of the main constraints.

Bancassurance channel for the insurance fee, "the Convention": ordinary dividends and the Type-co-existence in the mid-stream to pay life insurance products, 5-year and the following products must not exceed 2.5 percent of premiums, 5-10 years for the product 2.5% to 3%; 10-year and above the product must not exceed 3%. Universal-type products wholesale to pay no more than 3.2 percent; the following year and accident insurance premiums should not exceed 10%.

Analysts believe that this behavior is likely to be standardized in the short term impact on profits and on behalf of the Bank of silver-scale security operations, but the Bank of security fees once the reunification of the channel clear, as is currently the insurance industry and agencies of the bank channel, will realize that this is only Silver is a single security to reduce the business profits and therefore no longer simply hope through the sales agent of insurance products more access to the main business of higher profits, but this increased investment, more focus on the provision of professional insurance sales and Advisory services through the "big cake" to obtain the same profit; At the same time, this will help put an end to the new company, small companies just because of the size of the means to take unfair competition, insurance companies will be more focused on the Bank of security products and R %26amp; D Marketable.

Related statistics show that in the first 7 months the life insurance industry in the past 10 years to create the largest year-on-year increase in premium income Bancassurance channel up to 244,370,000,000 yuan, life insurance premium income accounted for nearly 50%. Insiders believe that, in accordance with the actual situation in China, Bank and Insurance premium income accounted control channels in less than one-third of the more reasonable.

7, 8 in life insurance premiums experienced high growth for the month, people have observed, many companies have lowered interest rates universal insurance settlement, some market players have made it clear that "to reduce premium growth."

"In our company, even for the current risk is basically a moratorium on the sale of the state, because no one is interested." Recently, a vote was not even pushing the Sino-foreign joint venture life insurance products company, told reporters the case, he said, the company According to the latest regulatory authorities have been requested, reduced universal insurance settlement rate, from 5.75% to the current 5.25 percent.

And even the risk for death compared to stagnant sales, universal insurance once this year due to high interest rates and settlement in the Bancassurance channel to play the leading role, but based on the capital markets to bear the risk and Jian Guanceng repeatedly prompted to give the background of the major risk after another rate cut Universal insurance billing rates, to "cool down."

National Day vacation after the first working day, more than the silver-life insurance companies, individual channels of universal insurance products, clearing further interest rate cut, most of them remain at 4-5 percent above the level between.

As far as the public Web site show that China Ruixiang Universal Life insurance settlement rate since January of this year jumped 5 percent to 3 month's 6.05 percent, down month by month the beginning of April, were 5.85%, 5% and 4.9%, 4.5 percent, the latest show of the settlement in September compared with 4.05 percent interest rate. In industry, China Life is an early settlement of interest rate risk will be a panacea for the reduction of the life insurance business, its current level of interest rates of 4.05 percent, compared with other major life insurance companies on the low side.

In fact, since one of the Quarterly Bulletin published since the market has been worried that the continued downturn in the capital market shocks the case, the universal insurance companies than the current investment rate of return of the settlement the long-term interest rates to maintain. The risk rate from the current operating level, universal insurance settlement of the reduction in interest rates and steps to reflect the different business strategies and product marketing strategies.

Part of the universal life insurance companies want to risk clearing interest rates remain at relatively balanced level, so as to avoid any major fluctuations in the affected policyholders and consumer confidence in the willingness to buy. If the Pacific (601,099, it shares) Life, Taikang Life, and so on, Taikang Life Bancassurance channel, "rest assured that financial management" universal settlement of interest rate risk, since January this year to July has been maintained at the level of 5.8 percent, in August down to 5.5 percent The latest display of the settlement in September for 5.25 percent interest rate.

To risk everything to fight product-based Ping An Life's long-term risk to a channel-oriented, silver and security operations at a relatively low proportion. In the two channels, Ping An Life has taken a different billing rate adjustment policies. In channels such as insurance, universal insurance settlement of its interest rates since January 1 this year is set at 5.25%, 3, 4 to 5.5 percent for the month, May to August has remained at 5.75 percent level in September down to just 5.5% On the contrary, Bank and Insurance channels recently released by the universal insurance settlement in September compared with 5.25 percent interest rate, which is lower than 000 channels of the risk level of interest rates, the industry is that this means that peace on the risk of reliance on more channels.

"Green in September grew 30 percent premium to a risk-based business to pay the long-term view, the current has not changed in the future will not change." Orient Securities analyst Wang Xiaogang, in its analysis of the report that Ping An Life insurance accounted still silver Is not high, so to avoid the "security of the large fluctuations in silver."

Cut: space spread compression rate of decline in investment income insurance

The People's Bank of China announced the decision to cut interest rates, the industry believes that the insurance industry's negative impact on the neutral side.

Bank channel short-term insurance products are the vast majority of the proceeds from the spread, and spread has been very limited. Insurance industry analyst at Everbright Securities Xiao Chao-hu of the view that interest rates will be room for further spread compression, insurance companies, investment earnings downward pressure.

Dividends in terms of risk, the investment bank focused on wholesale deposits and bonds, after the rate cut of the proceeds of these products will be lowered then. Insurance companies to lower investment income, dividends to policy holders will naturally be reduced, for long-term insurance policy holders, will be some impact, but the ultra-Hu Xiao also pointed out that "the cost of each insurance company On transfer to a clearing interest rates, dividends will not be released until one year risk, relatively speaking, the reaction was rather slow. "

On the other hand, must be accompanied by the clearing cut down interest rates, business costs. Since September, various insurance companies universal insurance billing rates have remained at a "down" state. Data show that in September, Ping Life insurance universal, the universal personal bank insurance settlement from the August rate of 5.50 percent fell to 5.25 percent, universal personal insurance settlement rate fell to 5.75 percent from 5.50 percent, Taikang Life's outstanding wealth and ease financial management Two powerful insurance settlement rate fell to 5.50 percent from September's 5.25 percent, to life and the lives of Life Kim Chi-hsin slam of the settlement rate in September has dropped to 5.20 percent.

Orient Securities analyst Wang Xiaogang insurance industry, said: "If the next two years Ruoshi pattern of the capital market is still difficult to change, together with the rate cut cycle, the settlement rate down to is not possible." At the same time, the bank will cut interest rates to lower sales of insurance policies Degree of difficulty, the premium will certainly increase.

Although the insurance industry's rate cut on the positive and negative impact on the basic balance, but the industry pointed out that in the near future due to insurance stocks is not optimistic about the trend, if the insurance rate of return on investment remains in the doldrums, the market will further decline in the performance of insurance companies have a concern.

Lower tax rates: the insurance industry profit margins squeezed down the risk of increased performance

Deposit and loan interest rates and lower interest exempt from the tax was announced, the industry believe that the rate cut is not an effective mitigation insurance policy of pressure on the cost of funds, and bond yields have dropped significantly, the insurance companies to reinvest the proceeds of the bond market and reducing their . "Lower tax rate" will lead to a future of the insurance industry profit margins were seriously squeezed, the risk of further decline in performance.

The cost of the policy is still severe pressure

Zhou Jin, an analyst in the company of the view that lower deposit and lending rates at the same time the abolition of interest tax, which is the first insurance company in terms of "asymmetric" rate cut. In the three-year time deposit rates remained at the adjusted 5.13 percent, while the five-year time deposit interest rates by 5.56 percent but rose to 5.58 percent, medium and long-term time deposit rate is actually far lower, so the cost of capital life insurance policies in force pressure Have not been effective mitigation.

For example, in August, has been in a high risk of the universal settlement began to cut interest rates. At present, published in September showed that universal insurance settlement rate, Ping An Life Insurance Personal Banking universal panacea and personal risk insurance settlement in a sharp decline in interest rates of 0.25 percentage points, Taikang universal insurance settlement rate from August's 5.50 percent down to 5.25 percent , Xinhua Life Insurance, remained at 5.20 percent. Nevertheless, the current universal insurance billing rates are still higher than bond yields, so omnipotent as insurance for insurance sales even after the boom of the most attractive insurance products, the profits of insurance companies to contribute little.

"Universal insurance settlement rate is currently close to the bottom, the company is unlikely in the current deposit interest rates continued to fall under the settlement rate, or premium income will be subject to greater impact." Director of an insurance company, said the use of funds. This means that insurance companies will continue to bear the heavy cost pressure on the policy financing.

However, the development of the insurance industry from the point of view, the cut would force insurance companies to adjust their business structures, the return of security features. Golden State Securities (600,109, it shares) Mao Wei, an analyst pointed out that this rate cut to make room for margin squeezing, Bank and Insurance sales channels for short-term financial products as a result of reliance on the "spread benefits," the biggest impact on the future focus on insurance sales To the protection of traditional products, because in addition to traditional insurance products to earn the "spread benefits", there are "bad death benefit" and "poor cost benefit."

Investment income poor profit margins squeezed

In the policy has not been cut costs and the decline in the background, the insurance investment income may have to cut interest rates fell and the insurance profit margins will be squeezed further.

Out of concern for the real economy, the stock market in the short term is difficult or good investment opportunities, access to investment income from insurance companies is unlikely. As early as in the first half of the insurance companies began to reduce the rights and interests of the ratio of investment to increase fixed-income asset allocation, insurance funds from the proceeds of the bond market access situation is also not optimistic.

Since August, the bond market Piaohong across the board, in mid-September to cut interest rates since the policy is to promote the bond market for some hot out of the market, the yield curve in the medium and long-term debt down in September by 40-60 basis points.

As the decline in bond yields, insurance companies, bond prices have been held by the "one rising in tandem." But the vote in the Securities analyst Xu insurance Shoude do not think this is a positive. According to his analysis, insurance companies, mainly from the bond allocation of assets and liabilities matching point of view, not to be trading opportunities, it has mainly taken the form of held-to-maturity, the bonds from the market price of Change. In addition, some bonds to be sold under the category of assets, but most of which are unlisted bonds, which can only be shared in accordance with the recorded value. As a result, the net assets of insurance companies will not cut interest rates and as a result of additional increases.

In addition, Zhou pointed out that each insurance company's assets for a long time period generally shorter than the balance for a long time period, the old debt due after the re-investment, as well as the additional premiums are faced with lower bond yields, bond investment Income has become more and more difficult to win. "Bond yields are expected to cut interest rates by supply and demand and the impact of the future may continue to decline, insurance companies, the future is difficult to obtain profits from the bond market."

"If the insurance rate of return on investment remains in the doldrums, the market's decline in the performance of insurance companies will be further exacerbated concerns." Director of the use of the above-mentioned insurance funds said.

Small and medium-sized business insurance premium growth slowed in August listed insurance rates squeezing profit

Statistics show that in August, Tai Hong, Xinhua, peace and people's livelihood, such as second-line life insurance companies have significantly slowed down its premium growth. And just down the implementation of the deposit interest rate and interest tax exempt, listed insurance company profit margins squeezed by the obvious.

"Jian Guanceng under the guidance of small and medium-sized business insurance premium growth in August in a marked slowdown." Everbright Securities researcher Xiao Chao-hu said.

Taiping, Taikang a total premium growth in August were 47%, 111% more than in July, a substantial decline. From a single month in August, Xinhua, Taikang, peace, the people's livelihood growth rate were 95%, 44%, 3% and 168%, respectively, than the decline in Central 33,38,69 and 122 percentage points.

July, Everbright Securities for the first time expressed worries about the future growth of the premium. And pointed out that in 2009 the industry premium income growth will be slowing down, even single-digit growth.

In July this year, investment-type insurance products, the rapid growth of abnormal, making the China Insurance Regulatory Commission to take emergency control combination of boxing, the Bank of security measures introduced to restrict the sale, including on-site inspection, such as window guidance. Combined with the adjustment of the capital market, making universal insurance billing rates have also appeared in a wave of a larger reduction, reduction of up to 200 basis points.

"August in the insurance industry to operate from several big lead, although small and medium-sized business insurance premium growth started to slow down, but the giants to use their strengths to maintain a channel of high-speed growth," said Xiao Chao-hu.

Premium income has been divided, small and medium-sized insurance companies noticeable slowdown in growth, premium income growth inflection point has surfaced.

"At the same time, lower deposit rates of interest exempt from tax, making the cut for life insurance companies, is a non-symmetrical rate cut, the cost of capital life insurance policies did not effectively alleviate the pressure. And the expected rate cut in the supply and demand forces Together, for the foreseeable future, bond yields rose significantly low, the life insurance company profit margins squeezed by the difficulties still grim in the form of "payment from the company's latest report showed.

CICC researcher Zhou said that the rate cut cycle in the first half of the real economy into a recession, life insurance companies do not have the structural investment opportunities.

In his view, the rate cut cycle focus on structural investment opportunities mainly in the final stage of the rate cut cycle, that is, the real economy is about to arrive at the bottom of the down-cycle; rate cut as an in-depth process, the policy makes the cost of capital to ease the pressure significantly; investment income The rate of a certain degree of upgrading. And the process will take time.

The current market for life insurance companies in gold is given "neutral" rating.

Bank Hanlaobaoshou desire to experience high-risk King contract

Insurance regulators hope to regain the right to speak, to lower fees unreasonable to refuse the terms of

Some banks in the business of the Fund to sell a substantial decline, requiring the company to use the strong position of King signed the contract to allow insurance companies to ensure their access to capital is scheduled to silver revenue. The insurance regulatory authorities highly concerned about requiring the company to restore security in the silver market initiative.

Bank: Silver King outsourcing contract security targets

This reporter has learned in business to sell more funds going from bad to worse, some large state-owned commercial banks to draw up in the middle of the revenue targets of the focus was shifted to the Bank up security operations, and to enter into a contract "outsourcing" to the insurance Banks and Insurance companies to ensure that the business income. In this contract, regardless of the ultimate insurance companies to obtain bank premiums for how much insurance companies must be in accordance with the contract agreement in advance of the Bank of security operations the amount of fees paid to the bank. In other words, if insurance companies from the Bank of security channels recorded a premium given the bank did not meet the target, insurance companies have to "put money" to make up for silver bank security procedures for business expenses.

In fact, some insurance companies have been forced out of his own pocket to fulfill the contract, and to expand channels of funding allocated to the name of the bank. Grasp the current situation, the insurance fee subsidies amounting to several hundred million are not uncommon.

Analysts pointed out that the "King of the contract" behind in real terms is that the insurance agent bank channels to expand the market, "the initiative" completely lost. Banks have been able to embrace the use of silver deposit insurance business is the main reason this year to strengthen the bancassurance business insurance sales, and competition in order to give priority to commercial banks, sales outlets, the bank accepted the initiative put forward by the "King of the contract" and a loss of words Right.

In addition, the bank has taken another approach would be to pass on the risk of insurance companies to ensure their own intermediate business income, that is, the Bank of tender security business. Some of this incredible means of a bank facing the annual plan is particularly alarming when the reality. For banks, insurance companies which are given the high fees, reported a large volume of business, which insurance companies will be able to access network.

Monitoring: the middle class life concerted action for the right to speak

"Although these practices make individual insurance rates in the near future access to comparative advantage, but in the long term, the entire security market, the Bank for the healthy development of more harm than good." Market participants pointed out that the "provisions of the King" accept The final damage is long-term interests of the insurance industry, and the Bank of blindly pursuing the interests of the Bank of security is not conducive to the development of the channel, will eventually lose Bancassurance channel competitiveness.

Because of the large number of foreign insurance companies, insurance premium silver are accounted for more than 80% of Banks and Insurance channels of high-dependent, making Bancassurance channels for insurance companies the right to speak of the difficulties facing the action. The current master of the situation, many companies have been completed in the first half of most of the indicators, insurance companies, insurance business of Bank of annual targets for the reduction of a large, the fees are too high for some of the realities of adjusting the silver Security sources and standard operating expenses. This is insurance for insurance market for silver voice to create a good environment.

It is understood that, with regard to the above, the current regulatory approach is that the insurance companies to take advantage of the Bank of the security industry the opportunity to control, in the face of insurance companies in the Bank of security in the channel in a weak position, can be achieved, "Chanxiangongsi Life Insurance Company and concerted action "Insurance companies for the right to speak due to lower fees unreasonable to refuse the terms.

Ministry of Finance: Tingzheng after-tax interest on the tax calculation still sub -

Xinhua Beijing on October 10 (Reporter Rosa, Miss) the Ministry of Finance Tax Department, the State Administration of Taxation Income Tax Division is responsible for 10 people in the waiver to answer questions about the collection of interest on savings deposits from individual income tax issues that the Interest on tax policy, tax practice is still sub-calculation.

According to the relevant provisions of the Personal Income Tax Law and the State Council decided on October 9, 2008, the savings on interest income (including RMB and foreign currency savings interest income) waiver to levy personal income tax.

In this regard, the two departments pointed out that the adjustment only in October 2008 after 9 (including the October 9) to seek interest waiver from the personal income tax collection. If a person in January 1, 2007 into the 3-year deposits, in December 31, 2009 expiration. The deposit on January 1, 2007 to August 14, 2007 accrued interest, according to the 20% rate of taxation of personal income tax; August 15, 2007 to October 8, 2008 accrued interest, according to the 5% The rate of personal income taxation; October 9, 2008 after accrued interest, exempt from personal income tax. As for the depositors in October 9, 2008 after the deposit of the bank to seek interest on savings deposits, the waiver will be collecting personal income tax.

In addition, interest on savings deposit interest tax based on breeding different time, different tax rates still apply. The interest rate on savings deposits from individual income tax levy waiver, the savings deposits in October 31, 1999 accrued interest, not to collect personal income tax; in savings deposits on November 1, 1999 to August 14, 2007 the breeding Interest, in accordance with the 20% rate of personal income tax; savings deposits in August 15, 2007 to October 8, 2008 accrued interest, according to the 5% rate of personal income tax; savings deposits in October 2008 after 9 ( With Oct. 9) accrued interest, the collection of personal income tax waiver.

Since November 1, 1999 on the savings deposit interest income to resume collecting personal income tax, interest tax in encouraging consumption and investment, a reasonable regulation of personal income to increase revenue, and so has played an active role. The two departments said that China's response to the new socio-economic situation of the savings deposit interest income waiver to levy personal income tax, in favor of personal savings deposits increased earnings, in line with the national macro-control.

At the same time, the two departments said that the interest covers a wide range of tax, related to the vital interests of the overwhelming majority of ordinary people. In order to ensure the waiver interest tax policies were implemented at all levels of finance, taxation, banking supervision departments should strengthen coordination and cooperation, and successfully carry out follow-interest tax management.

Since the decision of the State Council on the 9th of the savings from interest income waiver to levy personal income tax. Yesterday, the Ministry of Finance and Administration of Taxation issued "on the savings deposit interest income related to personal income tax policy," which further defined the pre-tax interest on savings deposits Tingzheng seek interest on the proceeds of collection of personal income tax. Click details

Xinhua Beijing on October 8 (Reporter Miss Wang Yu) in accordance with the relevant provisions of the Personal Income Tax Law and the State Council decided on October 9, 2008, interest on savings deposits from individual income tax levy waiver. Click details

AIG "sale" of assets owned Shin Corporation shares to sell for friends

In adhering to 3 weeks "not to abandon life insurance, Insurance two core business" argument, the time for the United States on October 3, American International Group (AIG) has announced plans to sell Assurance minority.

Although the Chinese friends in the area did not sell out, but rumors of the "buyer" appeared in China Life Insurance (601,628, it shares), the Industrial and Commercial Bank (601,398, it shares), PICC Property Insurance, and other Chinese-funded companies figure.

Chinese buyers cautious

AIG, according to Beijing representative office on the 4th said, AIG is its wholly-owned subsidiary of Life Insurance - American International Assurance Company Limited to find strategic investors, for which, AIG will sell Assurance part of the shares.

International Assurance in the Asia Pacific region AIG President and Chief Executive Officer Michael Moses said the letter, the current International Assurance Company and its financial soundness, the introduction of strategic investors to ensure that our allies will be able to continue solid growth and enhancement of quality insurance products and services.

Chizha the insurance industry appears to be a century of the International Assurance and Buchou Mai.

Chi Mak said the letter, the parent company from the previous week in New York Friday announced that it would start large-scale divestiture of the project, there are more than 12 companies have approached the American International Assurance.

On hearing this from many well-known Chinese-funded institutions, the media is currently out of at least 3: China Life Insurance (601,628, it shares), the Industrial and Commercial Bank (601,398, it shares) and PICC Property Insurance.

Although the current news, Chinese friends in the area did not sell out, but most of the opinion that China's friendly countries as part of its fastest-growing region, will also be forced to sell part of its stake, as well as re-break in exchange for Extension Turkey's freedom.

"Chinese-funded companies to participate in the purchase of our allies do not share that was not possible, in particular, a number of Chinese-funded insurance institutions." Insurance experts say a "friends of the insurance business is a very good piece of the assets, if successful acquisition, can play a very strong synergy. "

It is reported that successfully VISA lucrative investment of China Life Insurance (601,628, the shares it) very high voice, while another businessman Paul Insurance Insurance is back with AIG "Zhanqindaigu." People's Insurance and AIG Insurance are both strategic and cooperative partnership, which is held by People's Insurance Insurance 9.9% stake, and therefore does not rule out the possibility that both sides will continue to promote cooperation in equity.

Reporters asked whether China Life, PICC Property Insurance, and other Chinese-funded institutions, get back are "innocent."

The industry is also a reminder of the possible acquisition of the risk of friendly countries.

China Merchants Securities analyst Luo Yi insurance that if the acquisition is China's friendly assets, the risk is clearly very small, because China's diplomatic performance has been good for many years; However, if China is to buy assets other than our allies, on the risk of the unknown .

China quiet friendly

AIG crisis, the friends of China has been calm, Hong Kong, China, Singapore, the wave did not surrender a large scale in the Chinese mainland to copy.

Sept. 17, friends of Hong Kong issued a statement, although the company was a subsidiary of AIG, but has a sound and independent accounts, insurance policies issued by the company directly responsible, and have adequate capital and are subject to strict supervision of the insurance supervisory bodies.

"In fact AIG closed down or not, the financial independence of the International Assurance is there will not be much affected." Allies, a client manager in a letter to clients to appease wrote, "and that the U.S. government loans, friends Insurance also increased by a more solid strength of the shareholders - the U.S. government, there are not more than the United States in the context of the shareholders. "

October 3, Chi Mak letter said: "AIA and its financial soundness. In the past, through its unprecedented development in Asia, we have established with more than 20,000,000 policyholders and more than 200,000 members of the insurance marketing a prominent position. We are clearly the market leader Persons. "

AIA Beijing Branch of China Life Insurance Miss Gu Wenli's business card still retains the words of AIG, and as usual the list of "500 strong third place in the world" and "financial strength rating of the international calendar AAA" to their names.

The parent company in crisis, the allies remain active introduction of new insurance products.

September 26, International Assurance Company introduced the dividend-return year after year, "Jin annual pension insurance scheme", referred to as customers, "family emergency funding adjustment cash flow, planning the growth of children a lifetime investment for old age security to provide a new Financial planning solutions. "

"Payment of short-term, return year after year, customers will be able to complete just a few years to pay for a very short-term needs of the customer to pay." Life Miss Gu Wenli said.

In the past only to attract customers an important argument has been quietly changed.

"AIG Assurance Company of the storm has no effect, as the International Assurance Company, a wholly owned subsidiary of AIG, which is an independent financial accounting." Miss Li "independent legal entity wholly-owned subsidiary of" the nature of the strong pull away with the distance between AIG .

In the past, AIG around the world in 130 countries and regions in the network and the trillions of dollars of assets Assurance is the marketing staff to sell insurance are the most important weapons.

Insurance economic census leading group set up

In order to strengthen the insurance industry for the second time the economic survey of the leadership of the China Insurance Regulatory Commission recently set up a second economic census leading insurance group by the China Insurance Regulatory Commission Vice Chairman Li Kemu head of the office, including members of the China Insurance Regulatory Commission statistics Information, such as the General Office of the more than 10 departments.

It is reported that a leading group of the role of which is the second time the insurance industry and the economic census, the Census co-ordination to address the important issues.

Insurance intermediaries: to create a "platform" to create wealth

The key to the success or failure of insurance intermediaries, it is how skilled use of "insurance policy premiums to protect the value of customer = + insurance sales commission + insurance + insurance profit management fees" from more share of the profits. Insurance intermediary concerned about the third "insurance fee" fourth "insurance company profits" revenue. Insurance intermediary of the most successful kind of business model is: "+ platform for technical support."

Insurance intermediary companies have two modes: "the failure of the insurance intermediary vicious circle model" and "the success of the insurance intermediary model a virtuous circle."

What is the difference between them so? Mainly in the establishment of a "high-standard operating platform." To establish a "high standard operating platform" is successful, or else must go failure.

Liao Liao successful in the areas of insurance intermediaries, business model has a unique charm --- who can create a new "business model", who have not yet even more easily in the full development of the market's success.

In this feature, we talk about the Good and bad people mix in the domestic insurance intermediary market, a number of insurance intermediaries on how to find their own business models and achieve large-scale expansion of the story.

The highest level: the scale and specialization

Domestic insurance intermediaries have broad prospects for development? Take a look at the development of foreign insurance intermediary results can be foreseen.

Access to Information shows that in Europe and the United States, the insurance premium depends mainly on the insurance intermediary organizations. In Britain, more than 60% of the business through the completion of the insurance intermediary; in Japan, the figure is 90%; in the United States, is 60% -70%.

Sales of foreign policy process are: Insurance Companies (insurance design) -%26gt; insurance intermediaries (sales office) -%26gt; customer (insured).

But at home, according to the China Insurance Regulatory Commission issued "in 2008 in the first half of the insurance intermediary market report" statistics, as of June 30, 2008, the national insurance brokers and agents of the country's total insurance premium income accounted for less than premium income 4%. Most of the insurance policy by selling its own, not through insurance intermediaries.

But despite the professional intermediary market share is still low, but the insurance intermediary has entered a phase of rapid rise. In the first half of this year, the insurance intermediary to achieve a total operating income of 2,913,000,000 yuan, up 43.00 percent, the overall 135 million profit, national insurance intermediary in the first half of the basic profits.

Investors are also optimistic about the risk of insurance intermediaries. In the past two or three years, domestic and foreign venture capital industry to the intermediary and smashed into the capital of more than 200,000,000 U.S. dollars, and much additional momentum.

At the same time, but an unavoidable reality is that, as of August this year, there were 114 insurance agency to withdraw from the market, including 95 agencies, 9 and the brokerage firm estimated 10 public companies. This figure is still two years before the expansion trend.

How can the insurance intermediary market a foothold in changing the root, and sustainable development? Central University of Finance and Economics College of Insurance, Professor Su Hao his view that insurance intermediaries should be the direction for the development of professional and large-scale development.

The success of those intermediaries take the scale and specialization of the road. Large-scale, so that the insurance intermediary with the insurance companies have the bargaining power of capital, insurance companies are aware of the advantages of these companies are willing to channel their cooperation; specialization, so that the insurance intermediary to help customers in many insurance products in the most appropriate combination of customers Program, customers easier access to the trust.

Similarly, aware of this problem, the China Insurance Regulatory Commission has made it clear that support for the professional insurance intermediary market-oriented restructuring and mergers and acquisitions, insurance intermediaries to promote professional and large-scale development, to foster a number of large, strong, influential professional insurance Intermediaries.

Success of the enterprise: "+ platform support,"

With regard to insurance intermediaries wonderful business model, in fact, 100 years ago to explore foreign countries, China is more successful framework for insurance intermediaries abroad related to a similar, but different levels of development, maturity has been abroad, and domestic insurance intermediary just started, Consciously learn to imitate foreign advanced business model, currently we are not the same level.

Simple, insurance intermediary Competition There are two key factors: First, the good insurance agent, how to attract good insurance agent, or their agents have become outstanding in order to sell more insurance policies; II Management is to reduce the costs from the insurance companies share more profits, it is basically on the scale and technology in order to reach for.

Chinese and foreign insurance intermediary companies sum up the successful experience of the most successful business model is: "+ platform for technical support."

In fact, the domestic small and medium-sized insurance intermediaries from the hundreds each year, that is, in this regard failed to make the operation into a vicious circle: lack of business scale, in order to reduce costs and the abolition of the only departments to streamline the background, the operation led to a lack of support system ; Did not support the operating system business productivity further decline in business volume shrink further; once again rely on the company to cut staff of the department be abolished ways to cut costs ... ... the final collapse of the company.

The success of the insurance intermediary, on the contrary, their model is: a large-scale capital investment, the establishment of a high standard of operating systems, to support the expansion of distribution network, and the distribution network expansion has brought large-scale, the scale of further Support for the platform to enhance and support the industry to recruit top management talent to do further business support system, on the one hand, increase the physical network to increase the volume of business, capacity to raise per capita volume of business ... ... Finally, the formation of a virtuous cycle.

The establishment of a high standard operating platform, the insurance intermediary is our success.

Insurance intermediary business model Competition

Domestic and international insurance industry, competition is very fierce.

Sales of foreign policy process are: Insurance Companies (insurance design) -%26gt; insurance intermediaries (sales office) -%26gt; customer (insured).

Often only domestic: Insurance Companies (insurance design) -%26gt; customer (insured).

But the insurance intermediary is also rising. Enterprise the key to success is to see whether they can find a successful business model.

Domestic insurance intermediary: close combat

The development of the domestic insurance intermediary has just begun, but encountered great difficulties. As of August this year, there were 114 insurance agency to withdraw from the market. This figure is still two years before the expansion trend.

To find a new business model is the most pressing domestic insurance intermediary.

1

Minya: The main high-end customers in the development of life insurance consulting system

Beijing Minya Insurance Broker Co., Ltd. (hereinafter referred to as Minya) was one of the first professional insurance advice would be to introduce the concept of one China. Minya was founded in 2004, the first in China to raise individual life insurance-based brokerage.

Minya locked to target customers with insurance awareness and spending power of urban populations, the development of an independent expert advisory system, a professional insurance brokerage services as the company's competitive edge lies.

Minya Yang Chen, president of the view that life insurance brokers is one of the characteristics, from the insured's position, according to the needs of customers in a number of companies in a wide range of products for customers in line with the requirements of the selection of insurance products. In his view, the crux of Minya is the customer demand as a starting point for continuous innovation.

Minya's life insurance agent, the size of this year reached more than 300 people, these professional consultants in many doctorate or master's degrees, the average age is 30 years old, which is lower than the industry average; men and women in the industry in general for the 3:7 ratio, then Minya Men and women are geometric. Yang Chen believes that this combination of better meeting the needs of high-end customers in the rational demand for the purchase of insurance.

Secondly, the use of IT Minya has advantages. Minya has developed its own set of insurance products, expert consulting system for the actual needs of customers and different situations, real-time online advisory service, providing customers with tailor-made and diagnostic services. Through the use of computer systems analysis compared the company's different product than Characteristics, Minya that allow customers to buy its own in line with the demand for insurance products.

In customer service, customer Minya established club, signing for the formation of customers, "Minya Club (MYClub)", members receive after-sales service, including standard insurance policy to safeguard services and claims advisory services and other services, from time to time and held the Class knowledge Lectures, now has more than 2,000 members.

Minya has been the pattern in Beijing, its initial success and has now set up branches in Shanghai and Nanjing, Xi'an and plans to open up the market. Yang Chen said Minya in the country to copy such a model.

2

Huakang insurance: + platform + partner agency equity incentive

Huakang goal is: to fight caused by the insurance industry, "Wal-Mart" of the insurance services group.

Huakang to focus on life insurance-based business model, focused on the management structure of the platform, focused on partnership to promote the agency.

Huakang more focus on life insurance in the field of deep secret agents. January to June this year, has entered in the 14 provinces, 10 provinces Huakang occupy the insurance intermediary market, individual life insurance premiums in the first.

Huakang insurance agent to build their own e-marketing platform in August this year, is also on line, the use of object-oriented all over the country's more than 10,000 insurance agents Wah, Wah for the national system agents provided information and electronic Office support.

Wah and the core agency partners are: Wah in his capacity as an agent for equality, life-long cooperation with business partners. They allow the executive to the extent permitted by inter-city exhibition industry, to provide them with different types, different types of insurance products, at the same time, agents also clear that the renewal of the interests and the interests of the team belong to the individual agent has to carry on and transfer. This is now general insurance agent-for-performance extraction commission, the company does not provide for their basic salary, benefits and protection provided does not vary. In addition, the agents returned to the Huakang to provide social security and equity incentives.

Huakang introduced for all the back office staff and field agents of the equity incentive program. The use of the equity incentive plan, the company will expand the total share capital after about 15%.

In the development of the strategy will focus on the implementation of the Department of independent business plan, in 100 cities across the country to build 1,000 high rates, high productivity, high-scale "Huakang business" to help create more business really in charge of their own Evergreen team, the Head of Sales, will be Huakang strong brand and operating platform to support and enjoy industry-leading benefits of the Basic Law, and additional subsidies to support the team to operate independently, and other rights and interests.

3

Chinese people together: "A + B + C" model

Founded in 2003, the Chinese people together Co., Ltd., mainly serving the auto insurance of insurance intermediaries, with more than 10,000 people a sales force. Through its integration of online marketing services, offline marketing channels, the creation of a new financial product sales service business model.

China is now the public has gradually co-found a unique "A + B + C" mode.

--- A pattern of landing mode. Public Cooperation in selected communities has the potential to promote the marketing model, set up a number of agents in each area, service area do a good job. These small-scale enough to make the agent a year in the exhibition industry is very easily to form a unit the size of the effect.

Mode B --- Ctrip model. B model for the future development direction is to develop a customer spending habits in the future have insurance or other needs, through joint call to the public will be able to solve. The public can be combined to provide customers with specialized services tailored programs. Co-advertising and the public through a variety of car clubs combined, so that customers become members of the public together. And then through the call center, customer service and management platform for the provision of related services to customers, not just insurance, there are other vehicles around the follow-up services, including other financial services products.

--- C model portfolio marketing. It solved the public should not only competent but also long-term development of short-term profits, that is to be able to provide customers with the service pack for the completion of the sale, with a strong service-led approach to the marketing of insurance and driving.

Foreign insurance intermediary: Group, specialization, strong technical support

China's insurance intermediary and has just started difference is that foreign insurance intermediary with the insurance industry is starting at the same time, development has been a century of history. Therefore, the United States, the European insurance intermediary industry has formed a group, such as the Group of the United States Marsh, Aon Group, Britain's Willis Group in the global ranking in the top. And professional and strong technical support is its strong suit.

1

Marsh of the United States: adhere to the wholly-owned

As the largest international insurance brokerage and risk management company, the United States reached a letter of insurance consultants largest in the world is characterized by adherence to the expansion when the sole strategy. Marsh believes that companies are required to implement the company's top-down concept in the management of the operation is also better. Sole license conducive to enlarge and strengthen the marketing network, and is conducive to the world's resources. If you set up a joint venture company agencies, as well as day-to-day affairs between shareholders would be trouble at times, it amounted to adhere to the letter in the world owned, including China.

At the same time adhering to the sole, Marsh established a comprehensive network of services, whether in the United States or internationally, any branch can share this information platform.

Marsh's customers are mainly large companies, in the field of a wide range. This requires up to the letter with a strong technical support for customers with a full range of risk management (including risk identification, risk assessment, risk aversion, risk transfer and financing of professional services such as insurance) and insurance brokerage services.

Exhibition industry, up-to-business letter will make a detailed risk assessment, to make a full risk assessment program, and then according to different standards of individual risk and the risk of demand, so the design of insurance products, is the last and negotiations on insurance companies. This is a lot of insurance brokers to serve as the Kanjia different role. Marsh's operating income from customer service received by the commission, as well as consultancy fee income. Marsh also should require insurance companies to provide reinsurance services and their counterparts in consultancy fees and commission income.

2

Willis UK: Juni is not any form of market access

Willis is Britain's largest insurance group. In place to expand into, Willis "and take advantage of a" strategy does not rigidly adhere to the form in order to seize market opportunities for the top priority. For example, to enter the China market in 2004, Willis opened with an international insurance brokerage company set a precedent, and the Shanghai Pudong Insurance Brokers joint venture company set up Willis Pudong Insurance Brokers Company. The following year, Willis will be the joint venture shares from 50% to 51% of the holdings, Willis Pudong turned to foreign-owned joint venture insurance brokerage companies. Willis then constantly re-acquisition of the joint venture's shares, Ouellet's final goal is to put the company into a wholly-owned.

International Insurance Services Group, the most important advantage is the platform for sharing information and technical support teams. Willis "banner" strategy, customers choose a branch, which Willis is equivalent to select Willis Group as a whole. Ouellet London headquarters of the use of resources and professional team for the localization of the business to provide services and support.

Important for the market, Willis will focus on the advantages of occupation, such as the Chinese market last year, Willis has developed specifically for Chinese market, 3-year development plan, increase the investment in China.

In addition to mergers and acquisitions to acquire more companies to expand, and a lot of Listed Companies, Willis launched equity incentive plans to reward and motivate employees, employee stock ownership is an important human resource planning.

Insurance Association of Hubei Province, introduced three measures to stabilize the auto insurance market

Jing-Chu network news (AFP) First, an in-depth implementation of the China Insurance Regulatory Commission document 70, require operators to make premium income recorded in full in accordance with the fact; fees and other expenses paid in accordance with the fact; all Pei An "should pay compensation to do," and not to delay compensation, compensation at all, the exclusions are not unreasonable.

Second, the implementation of private cars, "see a single charge." To guard against insurance agents, misappropriation of personal policyholders premiums or misleading publicity caused by non-policyholders to buy discounted insurance "discount" claims behavior. Hubei Insurance Association of the insurance sector organizations to implement a private "fee see a single" system "in the primary insurance premium collection, the primary insurance policy to pay." Please insured to the legal institutions or insurance, insurance agents and insurance purchased in a timely manner, the full premium paid to obtain full insurance certificate and invoices.

Third, standardize fees paid behavior. Hubei insurance industry trade associations to strengthen self-discipline, the organization signed the "Hubei insurance of motor vehicles insurance industry self-discipline", the Convention on the fees paid by the objects, methods, standards, have made clear requirements for the production Insurance companies are not allowed to illegal intermediary agencies and individuals to pay fees shall not be payable in cash agency fees, fees paid for not more than the standard.

Even in September the risk for the performance of stock

□ Morning News reporter Zhang Jiabing

The ups and downs in September has been accompanied by the past National Day vacation, to January's vote was not even risk the monthly performance of the stock.

Xianyihouyang limited the decline

In September, to accelerate the decline in the first half of A shares to be approaching the end of the good management of the three co-stimulated by the "limit" rebound. Shanghai and Shenzhen stock markets on behalf of all A shares in circulation in the cards in circulation in the September index was down 6.77 percent, on behalf of the heavyweights in the performance of the card 100 index fell 6.86 percent, the representative of the second-line blue-chip index fell 200 cards in 4.45 percent, on behalf of small and medium-sized Pan shares in the card 500 index fell 7.42 percent.

As an important performance for even the risk-control of the fund industry, had been due to the sharp Jiancang, it is better than the performance of the market. Card in the stock fund index was down 5.87 percent for the month, the mixed evidence in index funds for the month fell 4.38 percent.

Taikang funds outperform funds

At 9 months, our long-term follow-up of the two major risk even for blue-chip accounts continued to perform well. Xinhua Life Insurance, and the creation of about 1.37 percent declined slightly in September, with all the pre-2008 issue of 191 equity funds, can be reached ninth place; As for the Taikang Life's cast even risk accounts, a positive growth Account was down 1.03 percent, ranked seventh, fund selection can account for slight 0.21 percent increase the second.

In the 191 equity funds, are being implemented in September only to return allies China and Thailand a dividend ETF, and indirectly through investment funds held by the Fund Taikang selected account can outperform the majority of equity funds, can be seen in its choice Fund, the de facto choice and control positions are set.

It is worth noting that, since the selection of Taikang fund account to achieve a positive return in September, so the first nine months of the cumulative return to narrow the -20.74%, and the creation of Xinhua about because of negative returns in September, so the first nine months Cumulative returns fall further to -19.9%, with the difference all the more closer.

There are two major blue-chip investment even at the risk accounts, will no doubt make a lot of "cattle-based" shame, after all, even Yawei care of the Chinese market to continue in the first nine months of Jiyaqunxiong number one, but the former nine 34.2096% down on the performance of the doubt and the two insurance accounts for the gap is even far worse.

September 19, A shares trading across the board, which we observe all types of stock investment accounts share of stock positions to provide an excellent opportunity. On the same day, Taikang positive growth account net increase of 3.66 percent. In contrast, this year's good performance in equity funds, on September 19 in most of the gains were more than 5%, only slightly lower for investment trends in Societe Generale 3.67 percent. Cast the net even if the risk of delayed disclosure does not exist, then this can only be interpreted by the main investment account risk even with the advantages of less investment restrictions, the stock has long positions fell to very low or even negligible at the bottom, so in order to A slump in shares in excessively prudent and avoiding error.

Look forward to even vote in the bond insurance accounts New Army

September 15, the central bank announced the rate hike. The next day the entire bond market rose, evidence of the bond index fund for the month rose to 1.41 percent, Cathay Pacific Jinlong bonds (market, the net, let Fund) A month or as high as 5.2754 percent.

In the stock market compared to some of the risk even for the brilliant performance of the bonds in some of the cast even a little dangerous on the Huitoutulian. Even Taikang fidelity sound earnings and debt-wide optimization of the performance of the two good-debt-linked insurance accounts for merely 2.8 percent and rose 2.3 percent.

Of course, and even dangerous for the R %26amp; D is lagging behind as well. According to statistics, in the third quarter of this year issued 25 funds, only 16 bond funds. In contrast, most insurance companies are dangerous even for the maintenance of the existing product line, which caused the actual comparable bonds-accounts very few of which emerged naturally it will be difficult to top.

In the first three quarters even the risk of return for "miserable" selling "light"

While the rate of return is declining, on the other side is a lot of insurance companies to stop selling one after another, and even dangerous to vote in this year's performance can be "bleak" to describe. In the first three quarters of this year, even for the most dangerous enterprise value of the account-net has been playing on the break, the loss of more than 30% of it is not uncommon. Investors can find comfort, cast even the performance of the insurance or slightly better than some of the market and equity funds.

When the nest is difficult to survive

"Business News" statistical sample of the total premium market share and last year was a good part of the proceeds of insurance data found that the company can not directly vote to determine the nature of the risk even aggressive type of investment account the ability of different companies Large extent, is "not much to choose between."

Our reporter in the statistics part of the insurance companies and accounts, as of last September's announcement of a date (Sept. 26), progressive-life accounts of life 1 and 2 on the day of the net even though this year's first notice day (1 2) the net value of 1.5996 yuan and 1.5231 yuan has been a lot of losses, but still above the 1 yuan; Taikang Life of positive growth compared with the same at the beginning of the decline in many, but also to 0.9790 yuan's relatively good Out the top results. However, Pacific Life's blue-chip growth, Hai Kang Life's great wealth-preferred accounts such as the performance is very far-fetched, the day of Sept. 26 have fallen below the net value of 0.700 yuan, joined the "6" in the first of the series.

No good results, it will not so popular these days. Analysis of risk even for the major sales channels channels of data security that the Bank may have to see one or two. Shanghai, for example, the first 8 months of Chinese-funded enterprises accounted for Bancassurance business market share of the top five, who are healthy, Xinhua, Taikang, the country life and Taibao, foreign investment in the Luen Thai city in a row Sixth place. Bank-funded companies in premium income for insurance business 12,863,000,000 yuan, 2,387,000,000 yuan for foreign companies, foreign investment in the ratio of 84:16. This year, foreign investment in life insurance business growth in the Bank's greater contrast, the capital of 222.46 percent year-on-year growth, foreign investment 34.47 percent year-on-year negative growth.

This is because despite the moratorium on the sale of company-funded initiative to reduce or even dangerous for sale, but there is universal risk insurance as a supplement and dividends; as a result of foreign insurance companies to set up a short time, small-scale, there is no match for the universal insurance can dividends and the risk of Assets, it can only be "brazen", or turn to other types of product sales, investment and insurance have been abandoned even became indisputable fact.

The performance is still far better than the market

Even with the market for insurance and the vast majority of partial-stock funds are compared to "where you win a fight," In fact, insurance companies and investment strategy and even the risk of investment properties. In addition, various insurance Even issued for the account of the risk related to the strategy report, in particular, there is no exaggeration to see "Let's eyes."

Ping An Life Insurance's selection of the rights and interests of account set up night time, since the establishment of six months can show that the company's investment strategy in August that the market's macroeconomic remained pessimistic view of the background, while corporate profits will not be the trend Change; at the same time the size of the non-real estate bubble and so on the remaining issues on the market, the growing impact of upstream sectors of the economy remained at a high point, the overall trend in the market for quite a long time in the future will not change. As the sales market, relatively cheap valuation, the management of the economic growth of more and more concerned about the high number of transactions and there will be an opportunity, will choose to increase their positions.

Life-life account of the progress this year, suffered heavy losses, but all the same last year, the best performance of the account. From the first nine months cumulative account performance, Series 1 and 2 series win over the accounts are open-end funds. In general, this year, the company's enterprise-type accounts and balance-of decreased account for open-end funds rate down to 70% and 50% of the market.

The company is currently on the market to determine the current underestimate the stock market has been in the region, underestimated the rate of about 20%, it is now entering long-term investors a good opportunity to cover positions or positions, "after all, no one can invest in the bottom of the risk of future lies in the fact that Will be at the bottom of a long, or at the bottom of it is really true that after the short-term investors that a rebound out, to miss the next bull market. "

Shanghai Zaixian chaos led to the crisis in conformity interests of the auto insurance market-strand break

Is a self-year in August from the implementation of vehicle insurance and self-discipline convention, insurance companies pay for auto insurance intermediary business auto insurance rates to no more than 15% of the strong cross-insurance rates to no more than 4%, the Shanghai auto insurance intermediary market, a substantial profit Down. On the other side, many insurance companies are due to face premium risk is difficult to recover.

By a herd of the auto insurance market crisis conduction strand breaks in the interests of the crisis is staged in Shanghai.

Shanghai, one of the platforms of the three major auto insurance auto insurance herd suffered as a result of lack of funds on the verge of closure after the Oct. 8, another reporter from the auto insurance market was informed that this storm has begun to spread to more auto insurance intermediaries.

As of the end of last month, Shanghai has about 2 / 3 of auto insurance intermediary, active or passive, or to stop distribution of commercial vehicle insurance as well as strong cross-risk, and as a sales vehicle insurance business in Shanghai's various Insurance companies also began to help themselves, the Shanghai Security Board supervisor, as well as Shanghai Insurance Association has recently issued a circular from November 1, Shanghai will be formally introduced in vehicle insurance costs see a single mechanism for auto insurance intermediary shall not retain private insurance, and business owners to buy auto insurance premiums through all the Shanghai auto insurance joint information platform under the Insurance Companies.

Since insurance is a trade association in Shanghai in August this year, auto insurance and self-discipline to implement the Convention to require insurance companies to pay for auto insurance intermediary business auto insurance rates to no more than 15% of the strong cross-insurance rates to no more than 4%, resulting in vehicles in Shanghai Insurance intermediary market, profits have fallen sharply, and many face cancellation of auto insurance intermediary business to sell auto insurance business difficulties; the other side, since the financial crisis in emerging public auto insurance, and is likely to arise from the stock market rumors in the market, many insurance companies are facing Receivable risk premium is difficult to recover; for more car owners, if the intermediary to buy auto insurance from commercial insurance, Chuxian, likely will not get the insurance payment.

By a herd of the auto insurance market crisis conduction strand breaks in the interests of the crisis is staged in Shanghai.

Vehicle insurance premiums rise sharply

"The same policy, why this year than last year, nearly 1,000 yuan more than the money?" On October 9, the BMW owner Miss Wang, a Shanghai newspaper to reflect, in the renewal in September found that premiums paid by a number of high - .

This reporter has learned that Miss Wang in September last year, according to business risk and settlement risk, and so strong through the provisions of the insurance intermediary to pay insurance premiums to about 4200 yuan this year, but required to pay an annual premium of 5100 yuan. However, the increased cost of renewal found in more than a Miss Wang, through an interview with reporters learned that many of the Shanghai auto insurance through an intermediary to buy the auto insurance business owners to reflect this, the recent about much higher premium price, within one year , Why the same insurance premium is such a big difference in price?

October 10, a Shanghai auto insurance intermediary who is responsible for marketing to this reporter's interview that the original purchase auto insurance through their companies, as the insurance companies to pay higher commission rates, they returned to the owner of the costs, There are various forms to owners of fuel cards are also profit from their separation, but since this year began on August 11, the Shanghai Insurance Association to start the implementation of the Convention on auto insurance and self-discipline, Shanghai more than 20 auto insurance business Commercial Vehicle Insurance Company of the charges is scheduled to die in the ceiling "of 15% (Commercial Vehicle Insurance) +4% (strong cross-risk)", many insurance companies no longer have to pay extraordinary fees, so they have no benefit to the owners returned.

"Fan Dian not in the middle, the owner of the premium will be higher up the price." Shanghai auto insurance agents professional Li Tao (not his real name) reluctantly revealed to reporters.

However, in an Insurance Co. It appears that the commercial vehicle insurance through trade associations provides a unified ceiling, an insurance company may not be any higher than the rate of payment of fees to intermediaries, has its difficulties. The analysis said the head of Shanghai's insurance companies in the auto insurance business has been operating loss on the road for five years, the past five years, almost no vehicle insurance is an insurance operating profits of the reason is the cut-throat competition among insurance companies For the sake of selling a large number of auto insurance intermediary institutions, in order to be able to occupy more market shares, insurance companies often hesitate before between the big price war, to the auto insurance intermediary to pay twice or even three times the cost of procedures, and auto insurance intermediaries are Seized the opportunity to speak to the insurance companies charge high fees for all, it is sad to now, many insurance companies are also due in auto insurance premiums in the hands intermediary, it is difficult to recover.

Hardly out of the cycle

At the same time, both sides issued by the auto insurance market, the voice crying in the outside world view, the most direct factor in auto insurance is self-discipline has begun to show the effectiveness of the Convention, but it also bogged down in the cycle of loss of the auto insurance market has become more complicated and confusing.

October 9, the auto insurance industry, a senior who told reporters that the insurance companies operating in the red auto insurance, auto insurance intermediaries selling auto insurance business is losing money, owners of commercial vehicle insurance are also always have no confidence in the attitude of the whole Auto insurance industry is losing money, then who is the profit in the end, who is the vested interests of the people.

"The question now is the need to completely reverse the auto insurance industry is not long deficit to win situation, self-discipline is the auto insurance regulatory authority to issue the first token, the next is to see the implementation of a single payment mechanism, which will certainly auto insurance intermediaries Feel pain, but also the root of the problem lies in the auto insurance industry in vicious competition, the competition lies not only in insurance, auto insurance intermediary is also the same. Insurance companies to pay high fees to costs, vehicle insurance intermediary costs are also to Expand the scale of regulatory agencies is intended to curb vicious competition in the insurance situation, the root of the problem, and then only auto insurance intermediaries to do business honestly. "In this regard, Shanghai University of Finance and Economics professor in the Department of Insurance would like to Xu Liang analyzed.

However, there are still problems, two measures of a release, has given way to auto insurance intermediaries feel that the survival of the difficulties. According to Reporters have a show that in September this year, Shanghai has 64 auto insurance intermediary has stopped distribution of the auto insurance business, and these companies are offered to stop the dealers, of which 20 are car sales and car Repair shop, auto insurance and more professional intermediaries such as conformity, AA, as well as grand a large number of small and medium-sized professional auto insurance intermediaries is more difficult to survive.

During intermediaries Baojian Ju For lack of supervision

So many of the insurance intermediary agents to stop auto insurance business, so that each insurance company has Dunsheng cold.

This newspaper has learned that there are many insurance companies now have to stay in auto insurance premiums in the hands of intermediaries, if they stop the vehicle insurance intermediary agency business, then the insurance company will be immediately and settle these premiums receivable.

October 8, the Shanghai branch of China Insurance An official told reporters that if these companies are due to stop and Deputy Industry, to settle the premium due is not difficult, but if the herd auto insurance intermediary to withdraw from the market, then should Premium collection recovery becomes difficult, so insurance companies now pay close attention to the herd.

An insurance company told reporters that they are now ready to some of the difficulties of auto insurance ask intermediary premiums receivable, if not close, we can only each other to court.

But on Oct. 9, the reporter learned from other channels, a number of professional auto insurance intermediaries are also ready to unite and Shanghai's insurance regulatory authority to negotiate on the grounds that auto insurance rates of self-discipline to develop standards for the formation of the League of prices, car settlement Insurance intermediary operating in a difficult situation.

"Vehicle Insurance self-discipline is the ultimate form of monopoly prices of insurance companies, waiting for the money, and it certainly can guarantee profits, but the insurance intermediary to survive a crisis, the owners can not buy cheaper insurance, and it is very biased, did not meet the market norm , So we filed a lawsuit to Shanghai Bao Jianju lack of supervision. "One of the above-mentioned vehicle insurance intermediary who is responsible for Li Tao told reporters. As far as he revealed that several insurance intermediaries have been intended to form a coalition sued the Shanghai Bao Jianju to find a lawyer to prosecute directly, but because there is no insurance arbitration institutions, they only go directly to court to solve the problem.

, A law firm in Shanghai on condition of anonymity, said the lawyer, auto insurance intermediaries so as to the reasons for litigation and regulatory bodies would be enough, in fact, in the Shanghai market, the rate of vehicle insurance fees are to develop the China Insurance Regulatory Commission's permission, so that the Fees are just not able to maintain insurance losses, not to mention the price monopoly, strong cross-country risk is explicitly provided for shall not exceed 4% of the red line, if the court should be able to win, I am afraid only slim chances of winning.

Food safety liability insurance rates by the collective lack of milk exclusions

With the "poison Sanlu milk powder" incident in-depth investigation continued, China's food safety issues once again pushed to the air waves, even though the country attached great importance to, but there are still more than 10,000 babies with excessive consumption as a result of melamine powder and suffering from kidney stones, and 4 eventually lead to infant mortality. In Shanghai, our reporter learned that the public questioning the dairy market confusion, lack of supervision and lack of moral responsibility, at least at the same time, more concerned about is that when the issue because their products caused harm, how to claim? What can consumers be protected? At present, China's dairy product in the end did not have liability insurance?

September 21 to September 25, an interview with reporters, including the United States and Asia, peace, China and Thailand, the People's Insurance and so on a number of insurance companies, and their reply has been disappointing, in almost all the Chinese food industry, companies do not have insurance Liability insurance, and for Sanlu such as milk prices, as China did not buy any liability insurance, in this case suffered punishment, leading to a malicious third party personal injury, insurance companies will have a direct or Jubao excluded from the scope of compensation Outside.

Lack of food safety liability insurance

Chinese exports have liability insurance, carriage of goods by liability insurance, fire public liability insurance, environmental pollution liability insurance, a listed company directors liability insurance, liability insurance only food safety no one!

"I think this incident to the domestic prices of milk is a very profound lesson, not just a business for more than a decade of the brand can be destroyed very quickly, but more importantly, all milk prices will suffer a crisis of confidence for a long time, although the country As a result of eating poisonous to those who suffer from kidney stones infant formula to give free examination and treatment, but the domestic consumers do not know how to use legal means to safeguard their rights, do not know by means of insurance to guard against risk. Abroad, especially in developed countries, Europe and the United States, Product defects resulting from product liability injury strict law, in the event, manufacturers and distributors are often faced with huge fines and compensation. Especially if the product at the same time led to many injuries, the victim will be filed class-action wins a case , On the billions of dollars of compensation is not unusual. In China, the existing "General Principles of Civil Law," "Law on the Protection of the interests of consumers", "Product Quality Law" and "Contract Law" to protect the interests of consumers of content, However, product liability caused by the accident, the producer and seller of punishment enough, resulting in the frequent occurrence of similar cases. "September 24, the United States and Asia Insurance Liability Insurance Department told a newspaper reporter.

September 25, Huatai Insurance in Shanghai liability insurance department also told reporters that, in fact, a number of domestic insurance companies are regulated by their food pollution liability insurance, food safety, liability insurance, the insurance products sufficient to meet export or Domestic product in the process of the risks, consumers also have security companies to purchase liability insurance at the same time, in particular the food industry, but also from another level, the introduction of peer-to-peer monitoring of insurance companies.

"Now the companies are in pursuit of profit over, chasing market share, as Sanlu milk powder, more than 10 years in a row in the market, sales in the first to occupy, but they have no way to control the quality of the food sources, do not know by means of insurance To guard against the risk that such acts harm not only consumers but also ruined their own business. "Shanghai University of Finance and Economics Department of Insurance would like to Xu Liang Sept. 26, told reporters.

Insurance companies in more than it seems, a large number of dairy milk poisoning incident occurred in enterprises, insurance companies underwriting them if the risks are too great to consider at this stage will not cover.

Consumer awareness of the lack of insurance

"If the acts of unscrupulous business is suffering from kidney stones led to the death of the baby directly, then at least the lack of consumer awareness of insurance also not continue to lose lives." September 26, the People's Insurance health insurance branch in Shanghai Sha Su-hsiang, a manager told this reporter that drugs from milk powder incident, we can see that almost all patients with the parents of the children do not have to buy a health risk, while at home in these areas also belong to the less developed areas of insurance, they do not think to To the health of a child to buy accident insurance, if they bought insurance, some infants may also be timely payment of medical accidents, not death.

The United States and Asia experts in insurance claims in an interview, pointing out that the most critical points: If consumers run into similar incidents involving injuries, the need to preserve evidence and claims in a timely manner, leading to injuries, including products, packaging and documentation, if requested manufacturers to recall Should be retained products were recovered a receipt; also injured at the scene and witness statements, proof of harm, such as inspection of all evidence of damage to the victim, as well as the fact that the extent of the damage, product defects and damage to the victims of the fact that between cause and effect Evidence. The availability of evidence, is to obtain full compensation for manufacturers and a key factor in successful lawsuits.

In addition, the reporter also learned that in our country, "Product Quality Law" as a result of product liability for damages caused by the physical requirements for a two-year statute of limitations for victims, in a timely manner to ensure that manufacturers can claim no compensation, the victim There is sufficient time for the prosecution, not the law is in force will lead to the loss of proceedings in favor of the right.

Central University of Finance and Economics, associate professor of insurance or possession of Yi also analyzed products on the scope of the damage compensation from our law, compensation for the victims of its products due to defects as a result of the actual loss, including loss of working time due to damage caused by the loss, and so on. As for the harm caused by the product manufacturers, if a similar incident, the factory's reputation and business will be affected, product liability, and therefore increase the risk of food contamination risk awareness, control-related product liability risk is essential. In fact, there are many ways to control the product because of damage caused by the need to assume the liability, such as the entire production process and supply chain to carry out the investigation and identification of risk, risk-controlled process of writing, the occurrence of the contingency plans for recalled products, supply Contract requirements on raw materials suppliers bear parts suppliers such as product liability. In addition to a series of management and optimize the transformation process, there is a simple approach to risk management, is to buy product liability insurance. To a reputable insurance company the right to buy product liability insurance, can be a time when the accident to help companies ride out the storm.

Monetary policy loose mitigation brake pressure on the cost of insurance funds

Last week, the central bank and the State Department announced that the reserve rate cut, cut, the savings interest exemption from income tax

United Securities

People's Bank of China recently announced that from October 15, 2008 down from RMB deposit-taking financial institutions to deposit reserve ratio by 0.5 percentage points; from October 9, 2008 down from a one-year yuan loans to keep the benchmark interest rate 0.27 percentage points each, Other deadlines grade benchmark deposit and loan interest rates adjusted accordingly. The State Council also recently decided on October 9 this year from savings on interest income waiver to levy personal income tax. In that case, implementation of these policies on the insurance industry be?

The monetary policy adjustment in September and the central bank lowered the benchmark interest rate of RMB loans and small and medium-sized financial institutions, the RMB deposit reserve ratio, the same monetary policy easing, but the insurance industry as well as the impact of the current situation there have been subtle changes in both.

The cost of capital to ease the pressure a little

September monetary policy adjustment, one-year benchmark deposit rate to maintain a high of 4.14 percent unchanged for the life insurance policies in respect of dividends and the cost of capital risk everything down to a certain resistance; the one-year benchmark deposit interest rates despite falling To 3.87 percent, but the interest can be exempt from income tax, compared to the previous 3.93 percent after-tax real interest rates, one-year benchmark deposit rate actually dropped only 0.06 percentage points better than nothing, the risk of dividends and universal risk of a slight slowdown in capital cost pressures . At the same time, the central bank to continue in the future, taking into account the expected rate cut, whole, the life insurance business for the favorable terms of the cost of capital.

Bond yields decline

Lower interest rates and future rate cut is expected to further reduce the bond yield, and the deposit reserve rate cut released more liquidity will be further pushed up bond prices and thus reduce the rate of return. Unless insurance companies are willing to take the initiative to reduce operations, policies or its cost of capital remains a relatively attractive deposits to maintain a certain rate, this is bound to require insurance companies to obtain higher than deposit interest rate of return on their investment.

However, from the beginning of September, 5, 10 bond yields have been lower than the October 9 from the introduction of the one-year deposit interest rate for new insurance companies have lost their attractiveness in terms of assets, unless to do short-term Transaction, or might as well put in the time, there are, after all, the new duty-free treatment.

Despite the current 5-year, the 10-year corporate debt is still higher than the after-tax yield on October 9 started to implement the one-year deposit rate, but its declining trend can be expected, insurance companies, the future of access to new assets Yield will be lower. Although we from a different point of view, all the way down bond yields, the price of its counterparts all the way up to the transaction for the purpose of holding the bonds can be more optimistic about the income gap, but the insurance companies take into account the duration of assets and liabilities matching principle More bond allocation is still due to hold their eyes, the whole of the insurance bond yields bad terms.

Equity yields are not simply turn for the better

Although the central bank to relax monetary policy is expected to be confirmed and further enhance, but from the world's collective central bank to cut interest rates and stock indexes fall countries do not change the phenomenon can be seen, investors in the macro-economic pessimism has yet to reverse the stock market in the short term remains difficult There are looking forward to.

Loan-to-time as domestic financial institutions, like the transmission mechanism (a number of domestic banks and insurance companies, while not directly involved in loan-to-time transactions, but to participate in meetings held by foreign financial institutions in the loan-to-equity and indirect losses suffered), the adjustment of monetary policy Domestic banks, will be in the same way through the transfer to insurance companies.

The monetary policy adjustment to the major banks in two ways: 1. Lower the interest rate differential. Due to the structure of bank deposits in a larger proportion of demand deposits interest rates unchanged, declining interest rates, the central vote at the same time, national debt, Jin Rongzhai such as the yield is expected to continue to fall, leading to a narrowing interest rate differential space. 2. Non-performing rate may decline after the extension of some of the bad. Funds may Enterprises chain tension through this difficult period, or more on hold for some time. For banks, these bad, the more positive aspects are intertwined, it is difficult to determine exactly, but we believe that the current Ruoshi, investors in the bank's prospects might read some of the more negative side, after all, the current government is expected to launch the More is to help policy-oriented enterprises, and enterprises and among banks to a certain extent, the zero-sum relationship.

Start microinsurance pilot one after another to try and find low-cost carrier

Seventeen of the just-concluded Third Plenary Session adopted the "CPC Central Committee on rural reform, development and a number of significant decisions" to make efforts to solve the most immediate concern for most farmers the most realistic interests.

For farmers in poverty-stricken areas, one of the most directly concerned with the most realistic, is how to get rid of poverty relief. State Council Development Research Center, a research shows that disease and accident injuries has become the development of rural economy and farmers to become prosperous one of the major constraints.

"China's rural areas so that every family has at least an accident insurance policy", is emerging as the insurance industry a long-term goal. The development of rural micro-insurance, to achieve this goal has become a turning point.

Wu Dingfu, Chairman of the China Insurance Regulatory Commission has pointed out that the development of micro-insurance will help improve rural finance and rural social security system, encourage companies to the region and the pilot.

Small insurance Insurance Regulatory Commission is pushing this year's main event. China Life Insurance (601,628, it shares), Pacific (601,099, it shares) insurance, Taikang Life and Xinhua Life Insurance, one after another in the near future to start pilot projects to begin in the small rural insurance market secretly wrestling.

Cost: lower

China Life Insurance County Department of Management Office of the High Point manager, said Hong Wan-li, in addition to product simplicity, low cost, low-cost mode of operation can achieve, as well as convenient services, life insurance has become a small pilot of the keys to success.

"Low" micro-insurance is the most prominent features: low-income people, low-premium, low-cost. Chen, Assistant President of the China Insurance Regulatory Commission earlier in the trial launch of China Life Insurance pointed out, after a number of rural insurance products has not made a small insurance business model is that the cost is too high, can not penetrate into the low-income market. "Micro-insurance pilot must focus on innovation, close to the search for low-income farmers, low-cost business model."

China Life Insurance actuary of the total in Shaohui said from the actuarial point of view, micro-insurance premiums low, low-cost carriers need to achieve, "the traditional model is impossible to achieve."

In rural areas, geographical spread and complexity of insurance salesmen exhibition industry costs more than the city. China Life president Wan Feng has said that insurance companies can pay the premium collection, exhibition and the excuse is a collective operation, etc., for low-cost sales.

It is understood that the Chinese village life to service as a sales force to take "to the village of security integration," the main, secondary sales of the model portfolio. China Life Insurance, general manager of King County with North Korea said the Shanxi branch of the attempt to present the "family of small single-mission mode" to promote micro-insurance and opened the breakthrough. Taikang Life Insurance president and assistant general manager of risk management, said Fu Jie, Taikang Life Insurance plans to house a higher rate of the region to promote "on behalf of the village" model.

China Insurance Regulatory Commission issued the "issued on the small rural life insurance pilot program to inform," pointed out that insurance companies could be entrusted to the Women's Federation, the village committee, and other grass-roots organizations in rural areas, as well as a new type of rural cooperative medical care managers or agency, such as sales of small Insurance. Grass-roots organizations in rural areas was given a sales agent of the "heavy responsibility" to make up a small network of insurance and lack of manpower shortage in the exhibition industry, to a certain extent, reduce the cost of the exhibition industry.

Services: faster

Due to extensive rural areas, mountainous areas inaccessible to the rural areas can provide customers with fast and convenient services and higher insurance claims efficiency, micro-insurance is to achieve wide coverage of the key factors. It is understood that Pacific Life in the industry to launch the first "real security" GPRS mobile a single system, enabling real-time in rural areas covered by insurance, a single move to rural areas to remote far, not a single issue.

Hong Wan Li suggested that in the report and then expand the application of the main settlement of claims, claims decentralized authority, and optimize the claims process, and so on, the standard management of rural service network, the company must be granted within the scope of authority claims to improve the efficiency of the claims. Fu Jie said, Taikang Life will be dedicated to the establishment of "micro-insurance claims green channel" in order to achieve rapid settlement of claims.

Award: higher

"Commission is too low, too high a cost of sales" is a lot of grass-roots insurance salesman's voice. An industry source said, a pilot from the current situation, the micro-insurance sales incentives behind the program, the commission is too low, the impact on sales of the exhibition industry enthusiasm.

It is understood that the micro-insurance in the pilot, China Life Yuncheng in Shanxi branch has developed a series of incentives, one of which is a sales clerk in rural micro-insurance uniform implementation of the standard fee of 20%. The number of people covered in more than 100 premium and up to 10,000 yuan more than a single corporation, the paid-up premiums by another 5% of sales incentives.