"If the rate cut for the insurance industry is split into two, I do not think a rate cut for the marketing of insurance market will bring such a major good news, the domestic market more than 1,000,000 of the marketing force can sell more insurance policies , And more commissions; but insurance companies, as more than 80% of asset allocation has focused on the deposit bonds in the field, to cut interest rates to boost the stock market's long-term effect remains to be seen, insurance companies will face more investment The plight of declining earnings. "November 27, Shanghai University of Finance and Economics professor in the Department of Insurance would like to Hsu-liang told reporters.
Marketing army of millions of "good"
What message than the more than 1% of the rate cut, to stimulate more Chinese life insurance market, more than 1,000,000 of life insurance marketing sales force enthusiasm. Although this winter than in previous years to appear more "cool."
Nov. 27, just before the central bank to cut interest rates news release of the next morning, a life insurance company in Shanghai's business department, all of the marketing staff have been gathering in the office meeting, a Sales Manager will inform the news marketing, And that, for this life insurance sales is a major positive, hope that the marketing staff to take advantage of this opportunity to raise the number of new insurance policies and premiums, and more business incentives.
"The rate cut specific insurance products, will boost the fixed-income annuity product sales, particularly to pay for more than 15 years of products, some of the fixed-income annuity insurance proceeds are more than 3% since Capital market has shrunk dramatically, insurance companies and even voted for the universal-type products are not pushed as the main species, said insurance companies should be timely product sales strategy will also benefit from the marketing staff, and the dividend-income products affected by the drop The impact of declining interest rates. "Assurance Company Shanghai Branch Ouyang Jun paper, said analysis of the interview.
The reporter learned that our allies, including as a result, the Pacific, such as insurance companies in Hong recently launched a new pension insurance products, these products will be cut by the market's favor. Some life insurance companies marketing staff also told reporters that they now recommend to customers annuity-type products, first of all because of the rate cut to stimulate the other member of the Life Insurance Marketing, a 20,000-year payment of pension premiums can be dangerous To bring their premiums as much as 35% of commission income.
Some insurance companies on the central bank to cut interest rates so dramatically in addition to the start of surprised, but also on the market have more hope. November 28, Shanghai, a joint venture life insurance company responsible for marketing the person in charge told reporters that the central bank to cut interest rates make the one-year deposit interest rate has been lowered to 2.52 percent, and is scheduled to life insurance rates 2.5 percent or less the same, so before the In the insurance companies have been troubled by the head of the "spread effect" will disappear for the time being, this can lead directly to the sale of insurance products, before the end of the year, China's premium market there will be a small increase, after all, be they national or Shanghai, Since the second half of this year, in fact premium income in the ring than have been declining, which in the Shanghai market's performance is particularly evident, especially foreign companies, year-on-year market share has dropped by nearly 20%.
November 27, the Central University of Finance and Economics Research Department of insurance products and pricing, a professor of actuarial Xu Jingfeng is also an interview with reporters, the rate cut as a result of deposits and bonds are reduced, and the insurance rate target remains the same, So in a matter of months the sale of the insurance market will pick up, and if, after the central bank to cut interest rates again, insurance rates may also be scheduled with the bank to lower interest rates and reduce, if not lower, insurance companies will raise the price of the product.
Xu Jingfeng, according to estimates, is expected by the end of the year, after a few months time, the national chain down the size of the premium trend would "stop" at the same time there will be about 50,000,000,000 about the growth in premiums.
"I hope our team can do during the year, 500,000 new insurance policies, after all, who do not want to miss this opportunity." Evening of November 28, in De-Life Alliance, a business manager, Chen Tao (not his real name) told reporters.
The difficult situation of the insurance business
Hard for several years, a night to return to the "liberation", the phrase used to describe insurance companies to invest in difficulty is not an exaggeration.
November 28, Orient Securities analyst Wang Xiaogang insurance issued in this research report, the central bank to cut interest rates for term insurance is still bad, the rate cut means that the insurance company investment income and a decline in the rate of spread of space Narrowing. And its bad for a long time period due to a mismatch.
Wang Xiaogang pointed out that the assets of insurance companies for a long time period is about 7-8 years, and the balance for a long time for an average period of 15 years or so, there is a relatively long period of apparent mismatch. In such a situation, the matching of assets and liabilities are faced with reinvestment risk, interest rates will mean a further decline in the rate of return on investment, interest rates are not conducive to the insurance companies.
"The deposit agreement, in the first half of 2008 had a return of 5% -6%, with the three-year deposit rate was 5.4 percent fairly.'s Rate cut, three-year deposit rate fell to 3.6 percent, it is estimated that the agreement Deposit interest rate will be reduced to about 3.6 percent. On the other hand, 7-year maturity government bonds currently yield about 2.77 percent. Both are higher than the 2.5 percent target interest rate cap insurance policy. However, taking into account the possibility of further rate cuts, Li Chasun pressure in the future cause for concern. "Wang Xiaogang paper said.
In addition Wang Xiaogang pointed out that the rate cut on the three major insurance companies include the adverse effects of the policy will increase the proportion of fixed, floating bonds should not be optimistic about the surplus, insurance stocks still in the worst of times, the rebound took place at any time, the need to reverse等待.
Xu Jingfeng and believes that the central bank has cut into the channel, insurance companies selling policies in the past have not earn profits or even a "lose" situation, that is, the so-called "Licha Sun", but now sales The new policy is also not much profit, insurance companies only to the new life insurance products, interest rates and raise the price of insurance products.
Released by the China Insurance Regulatory Commission earlier in the third quarter of the use of insurance funds, the reporters understand that, at present the bank deposit insurance funds to 703,970,000,000 yuan, accounting for 24.5 percent; bonds for 1,656,900,000,000 yuan, accounting for 57.6 percent.
"In the short term bond yields are not affected, but also have a certain amount of floating win. But if low-interest long duration, is bound to the operation of insurance companies have a serious impact." November 27, the life of assets An official of the administration have admitted that such a high proportion of the insurance deposit bonds will have to adjust the structure of proportion.
"Cut cases, the use of insurance funds is bound to adjust." Beijing Technology and Business University Head of the Department of Insurance, said Wang Xujin analysis, "from the current policy direction, to broaden the scope of investment in insurance, property, infrastructure and so on will become a favored target of insurance funds, once again, In the long run not rule out the possibility of the State Council to further increase the investment channels for insurance funds. "
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