December 14, 2008

70 Chinese-funded insurance premium rates in October a negative growth

Life insurance premium income fell in October. China Insurance Regulatory Commission recently released the first premium income in October statistics show that in October there are 70 Chinese-funded life insurance premiums of the original Central revenues than negative growth, with an average negative growth of 26.39 percent.



Statistics show that in 26 of the statistics can be funded life insurance companies, in October a total of 18 companies with negative growth in premiums, almost 70% of proportion. Among these, the premium income of the top 10 life insurance companies, only the Central People's Insurance Life occurred over positive growth in other areas such as China Life Insurance (601,628, it shares), Ping An Life and Pacific Life Insurance, Xinhua Life, Taikang Life, Taiping Life, life to life, the people's livelihood, such as Life's premium income had negative growth, with an average negative growth of 25.74 percent. Life of life in which the highest negative growth, reaching 45.07 percent.



And Chinese-funded life insurance companies, the better the performance of foreign companies a competitive edge. In October of the original premium income of about 2,333,000,000 yuan higher than September's 5.82 percent growth 2,206,000,000 yuan.



Experts believe that the larger decline than the Central Life Insurance Company sales Yin is more investment-insurance products. Now regulators on the Bank of security products sales restriction, resulting in a substantial negative growth on into the inevitable. People's Insurance for life insurance and Assurance in September fell a larger than Central, and in October a sudden increase in the phenomenon, insurance analysts said, this is insurance companies to adjust product mix in a timely manner.



Reporters from the small and medium-sized insurance premium income, the growth rate was about 2 or 3 times times the situation has gone. Experts warned that only a single product mix to meet short-term growth of small and medium-sized life insurance companies must adjust the product mix.

No comments: