Just after the beginning of winter season, only to the insurance industry even in the winter at the same time unexpected, so that insurance companies feel the early cold of winter.
Return on investment of insurance funds is an important indicator of the advent of winter. In the first three quarters of this year, the use of insurance funds an average yield of 2.1 percent, and is not in the same period last year, the 1 / 5. A reference to the target, some life insurance products by the end of the yield of 2.5 percent. To the three giants, for example, China Ping (601,318 stock it) directly into the air by, Fortis to invest 200 billion yuan left in the third quarter of 17,264,000,000 yuan Provision for impairment of assets, which obviously has Shangjindonggu, resulting in a negative earnings per share; China Pacific Insurance (601,601, it shares), China Life Insurance (601,628, it shares) were also set aside 3,602,000,000 yuan and 8,730,000,000 yuan.
The nest is overturned, no eggs will survive. Private insurance companies can not escape defeat of the capital market brought about by the loss, it is reported that some small and medium-sized insurance companies last year, has lost all of the proceeds inside.
Investment income caused by the defeat of the insurance market knock-on effect. Cast even dangerous at this time last year, has also advocated doubling of revenue this year and then drop it in an extremely harsh, and many accounts the same period last year shrunk by more than 2 / 3. The yield universal insurance also fell. Once hidden problem of misleading exposed, Shandong, and Tianjin have taken place in the collective insurance for even surrender the incident. Even if not misleading, surrender became head hanging over the Sword of Damocles. When the rate of return lower than the insured or the expected sales promotion, the surrender will occur. Large-scale surrender would have to pay the fee or commission losses will lead to financial stability. More importantly, the market's confidence in insurance.
Licha Sun Life Insurance Company of With the investment income of defeat once again become the focus of attention. In 2007, according to Goldman Sachs predicted that China Life, Ping An, Pacific (601,099, it shares) of the three major life insurance company's potential Licha Sun is about 32,000,000,000 to 76,000,000,000 yuan. If the big bull market that last year's earnings Lichai Sun that the insurance is not a what, but now do so. Insurance funds can only be honest, the outflow from the stock market, with interest rates close to the linked deposits and bonds. Banks had already cut interest rates twice in a row, there's likely to continue to cut interest rates, which allow insurance proceeds further. In the 1990s insurance companies to more than 6% at the end of insurance rates to get the insurance policy, in the current interest rate environment, the old business, the more the greater the loss, in particular, by fortune of China Life Insurance, Ping An of China, and other companies.
Chanxiangongsi days are tough, international reinsurance companies made a specific price. In theory, reinsurance prices may transfer the price lever to the customer, but in reality, domestic property insurance market competition, prices in the past two years, rising labor costs, insurance rates are down. The main reason is the cut-throat competition in the market, the Shanghai auto insurance, for example, be returned to the intermediary fees by as much as 30% -40%. In order to expand the premium size, insurance rates will be hard to reinsurance companies to carry their own prices, not only profitable but also to catch the rest.
Insurance is also the driving force behind the follow-up is clearly inadequate. Financial crisis not only affected the income of businesses and individuals, has brought more panic. As a result, individual insurance will be very cautious on investment, will reduce the unit cost of the risk of security expenses. Can not be sustained business growth, insurance companies will be faced with the loss of personnel, institutions difficult.
In addition, the solvency of insurance companies will be trapped. As early as in the first half of the China Insurance Regulatory Commission announced the 12 less than the solvency of insurance companies. At present, only a few had a capital increase, so that the solvency standards. As a result of these insurance companies are also facing shareholder unit contraction, it may not be as happy as before hand. If the lack of solvency, it is bound to affect the conduct of business, the agency's expansion.
Reduced investment income, lack of solvency, market demand to reduce ... ... During this winter, may be unable to resist freezing the company's collapse.
Although the insurance company has not revealed publicly for fear of financial crisis, but is no doubt: many private companies already do a good job in preparation for the winter --- to reduce the benefits of the staff, administrative expenses, expansion of institutions, and so on.
In fact, winter is not terrible, the Internet company in 2000, before and after the severe winter experience, such as Sina, Sohu, Netease, still not quite over, but also created a brilliant. The key is, how to tide over the severe winter.
A few days ago in Shanghai, organized by the Forum on China's financial brand, Huatai Insurance chairman Wang Zi-made for the winter: to walk less in the winter, the need to appropriately control the scale of enterprises, and even to take the necessary austerity measures to save money and retain the best customers The best employees; prepared food in the winter, spring, and so on, enterprises can already prepared to launch new products, new measures to seize the priority areas; well Hunting in the winter, with their ample "food", the huge salaries to attract Better to join the staff.
This may be used for reference.
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