Chu Laihun, are sooner or later have to repay these loans.
Last year earned bowl full of pots full vote even dangerous, as the capital market in the doldrums this year, the account has shrunk dramatically; the U.S. financial turmoil has caused a domestic insurance industry has no place to hide, although far from the storm, but still suffered .
Loss of truth
When the nest is no eggs will survive.
A generally accepted view is that even the risk Weidun vote, the fuse is even dangerous for the account or more deep.
This is because even the insurance account for the overall point of view than the Fund more resilience, but to specific accounts, because the investment strategy, product design, the size of the accounts and other reasons, its losses so far this year has been quite amazing.
According to our statistics, the statistics included in the publication of the accounts, in addition to money-account, this year's deficit by more than 40% of the total of 27, or more than 50% of 8, which accounts for 4 Index-based accounts. In addition to the index-type account, the account in our statistics, as of October 15, 2008, the net value of 0.6 below the 12 accounts (see Table 1), of which, life-chi Life won the world selected stocks and accounts Merchants CIGNA winner Fu-chi section of a harmonious CD-B account has been below the net value of 0.5, while China Merchants CIGNA ahead of another type-B Pioneer account on October 15 of 0.5133 to the net from below 0.5 are only one step away .
At the same time, aggressive-type accounts, the statistics included in the publication of 35 comparable accounts, the loss rate of less than 30% of only 2, account for nearly half of the (16) loss in the range of 40% -50% , The other 13 accounts in the fall between 30% -40%, and 4 accounts for more than 50% decrease (see Figure 1).
Among them, began in November last year, the Chilean won the world selected stock investment accounts, balance-preferred investment accounts and investment accounts to strengthen the currency, on October 16 this year, the net value of 0.4962 yuan respectively, and 0.6762 yuan and 0.9557 yuan respectively, Cumulative loss of 53.42 percent, 36.32 percent, 4.43 percent, compared with the same period as part of their performance benchmarks of days with open-end fund index, which is also smaller than the decline in its stock-selection accounts, the loss of only 47.91 percent over the same period.
In addition to the index-based accounts, and the remaining 4 in a loss of more than 50% of the aggressive type of account, the Thai city of stock-based accounts, Taiping Life blue-chip growth stock account, as well as China and the United States metropolis accounts are passive-aggressive type accounts, only Life's selection of stock-account-neutral enterprise accounts, according to public information, which accounts for stock and stock-fund investment ratio of 50% -100%.
The industry believes that the time from the point of view, the life of Life 3 of the above account is untimely, the operation began in November last year, the stock market's high point. On the other hand, the product since the founding of the weekly show that investment in the market all the way down, the more optimistic about the investment managers, such as the product on December 20 last year, the investment in weekly "from the medium and long-term point of view, At present, the market has gone through a full adjustment, so we are more conducive to a more appropriate cost Jiancang. We have in the past two weeks the stock and fund the position to build more than 90%. "At that time, the stock at around 5000 The high bear market just opened. In the subsequent drop in the market, the investment manager also claimed that "small is the stock market crash Jiancang opportunity."
However, it should be noted that, according to internal sources, the life of Moses Life won the world only in Shanghai, ICBC pilot sales outlets, the public disclosure of information revealed that the three products account for the total size of the peak in the near billion.
Similarly, serious losses occurred also in the cast-even balance in the account.
According to our statistics, in 26 comparable to vote even-account balance, only Taiping Life's a balanced account of the loss of earnings in the range of 10% or less (-5.92%), 7 each account deficit in the range of 10% -20% And 20% -30% range, there are 10 accounts of the loss in the range of 30% -40%, the statistics into account in the proportion of close to 40%, as well as the two accounts with a reduction of over 40% (see Figure 2), China Merchants are CIGNA, as well as China and the United Kingdom's Life-account balance (see our issue, "even voted top investment income (Oct. 2008)").
In addition, sound-based accounts, there has been a "strange", Radio, Film and Television of Health's steady on value-added account irrelevant continue to play its role, not only of its value so far this year has been 40.55 percent of the losses, the loss rate even Many more than the stock investment accounts, similar accounts Cimu abnormal.
Fundamental
However, the loss is not the only reason.
In fact, all under the sand in 2008, almost no financial product lead a better life, according to our continued tracking statistics, on the whole, even for relatively risky investment income offering funds, private equity, its overall performance Remarkable.
In fact, according to our statistics, previous winners Fu Life life insurance even vote, ahead of its type (I, II) accounts, even as at October 16, the net value of 0.8959 and 0.968 respectively, both relative to the door with the chi To win the world (0.4962) or in the same period a number of products, are doing very well.
A joint venture company said that even the vote itself is a non-risk insurance products by the end of such adverse market conditions account for a certain degree of loss is normal. However, "if the vote even when the income security of the secured products to sell, then of course the problem."
On May 15 this year, compared with the in the lives of the six winners Fu Tai account, I sound almost equal to the size of the accounts, and the sound II and even the size of the increase in aggressive, but I, II and the balance I, II accounts Were declined (see table 2).
Another point worth noting is that investment in its weekly, the product of six investment accounts of the size of the account since July 17, 2008, has not changed.
Security Bank bad
Influence does not stop there.
Undisclosed sources, at present several major banks throughout the country has joined hands to block certain insurance companies.
In addition, the China Insurance Regulatory Commission has also recently announced that the vote even pay close attention to the risk operation and will crack down on misleading sales: "If not 100% sure now until the end, companies will have to vote to stop even the risk of Bancassurance sales, it is necessary to carefully carry out other sources of risk even for sale. "
A senior insurance industry analysis, the objective and subjective factors, multi-role, not only in the short term industry-wide silver-scale security operation will be an impact, and deep-seated changes in the Bank's capital market structure.
He said that the main competition this year with the increase in the face of intense competition, small and medium-sized insurance companies in urgent need of fierce competition in the market to seize the market, often as a stepping stone Bancassurance channels. Insurance companies have pointed out that insurance companies currently pay to the agent bank fees have been rising about 2.5 percent to 3-5 percent, the Bank has increased the security agency business risks and costs of the new poor risk of loss, insurance companies in the Bank of security channels Almost no profits to speak of.
"The cost of the insurance practice does silver-led business and the blow-life insurance industry premium income as a result of hyper growth, but hidden behind the big risk." He said, "This comes from the commercial banking system as well as insurance supervision Systolic pressure of the body double, would in all likelihood lead to the next two months, the Bank of security operations and the overall life insurance premium income of more pronounced decline. "
He pointed out that the insurance business for a relatively strong impact on the company, will be slightly smaller, but for those who pose a premium of 80% or an even higher proportion of silver is the business of insurance companies, it may be a devastating blow.
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