U.S. loan crisis is still ongoing at the spread of many global financial institutions affected to various extents, China's insurance companies can not be an exception? A few days ago, China Ping (601,318 stock it) that, in accordance with the principles of financial prudence, decided three of the Quarterly Bulletin of the Fortis group in the equity investments of about 15,700,000,000 yuan provision of impairment. To consider the impairment loss, it is expected that China Quarterly Bulletin safety net profit for the three negative 6.6 billion, while net profit for the full year of negative 4.6 billion. China Ping An has become a domestic financial crisis by the United States the largest listed insurance company.
Reporters learned that the current 3 A-share listed insurance companies, the China Insurance Regulatory Commission just approved China Life Insurance (601,628, it shares) and Ping An of China's QDII quota, respectively, corresponding to the company's total assets at the end of the 2% and 15% . It is learned that China Life Insurance and China Pacific Insurance (601,601, and shares it) not to invest Lehman Brothers, AIG, Merrill Lynch related to the bonds.
However, adverse global economic situation, A-share market fell steadily, the equity investment as a major means of profit, one of the insurance companies, the loss is very great.
Industry experts told reporters in the A shares listed on the three insurers, China Life to invest a minimum losses in its investment stake in a listed company, Minsheng Bank (600,016, it shares) the market value of the loss of about 630,000,000 yuan, the Industrial and Commercial Bank (601,398, It shares) A stock market value of the loss of 630,000,000 yuan, the China Construction Bank (601939, you share) loss of about 5.5 billion, China Shenhua (601,088, it shares) loss of 6.5 billion yuan, while Bank of China (601,988, it shares), Baoshan Iron %26amp; Steel (600,019, it shares), Datong-Qinhuangdao Railway (601,006, it shares) of the total market value has shrunk to reach more than 300,000,000 yuan. So far in the second half, China Life securities investment Fukui is expected to exceed 2.5 billion.
The Pacific Insurance is also considerable losses, the market value of equity investment has shrunk dramatically. Pacific Insurance in the second quarter held by the end of the top 10 stock market value, so far in the second half of Haitong Securities (600,837, it shares) the market value of the loss of up to 553,000,000 yuan, the Industrial and Commercial Bank of reducing the market value of 200,000,000 yuan, the development of deep-shrinking market value 270,000,000 yuan , Panzhihua Steel alum to reduce the value of the equity investment 087,000,000 yuan, so keep some Chinese Shenhua A shares, H stock market value has shrunk a total of 170,000,000 yuan, and its purchase of 50ETF equity investment losses of up to 100,000,000 yuan. As the A-share market so far in the second half of severe decline in the second half of the year to date close to Fukui 1,380,000,000 yuan.
The worst time has been spent
Cheng Siwei well-known economist, recently announced that the recent financial turmoil on Wall Street, is due to a number of factors zoom level, add fuel to the fire caused by intensified. Banks, investment banks, funds and insurance is the financial capital of the United States link in the chain, banks and funds have suffered, insurance companies will be the focus of the next crisis.
In response, insurance industry experts said that as China's insurance industry has not yet liberalized foreign investment in financial derivatives and are therefore not directly affected. But the loan-to-time to provide a deep crisis, Risk Alert, the insurance industry is to protect the essence of this function is to protect any other financial instruments can not be replaced. At the same time, investment in the insurance business can not rest on its laurels, China's insurance industry open up investment channels should continue.
In addition to "Die Die over" the A-share market, insurance companies investment income will continue to be a greater impact? China Merchants Securities, said Luo Yi, even if the A-share market continues to drop, insurance companies are unable to obtain return on investment, the impact on their very limited, the insurance industry has been through the worst of times. He said that the insurance fund for adjustment to changes in the market is relatively fast, as at the end of the first half of 2008, the entire insurance industry to use the funds for the balance of 2,706,300,000,000 yuan, of which, bank deposits 697,800,000,000 yuan, accounting for 25.8 percent; 1,450,800,000,000 yuan bonds , The proportion 53.6%; securities investment funds 185,540,000,000 yuan, accounting for 6.9 percent; and equity shares and 290,500,000,000 yuan, accounting for only 10.7 percent. To reduce the stock position, on the one hand, the rights and interests of the securities market caused prices to be sold, and the type of financial transaction the book value of assets shrink, on the other hand, the insurance companies for risk control of the initiative Jiancang, holdings in bonds and deposits.
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