Rate cut by the stock market downturn, even for insurance proceeds, universal insurance billing rates have been declining, while the dividend income insurance can not be optimistic. Even those who voted, universal insurance income is too high proportion of the company, may be a greater impact. Orient Securities analyst Wang Xiaogang is expected in the first half of next year's dividend rate of return of the insurance will not exceed 4%.
Silver hit the market in the first half of security, set off a wave universal insurance. However, regulatory authorities in the emergency brake, the universal risk of the waning light, the former star of the market actually tends to cool slightly "over gas." Its revenue decline is probably the main reason.
Since the second half, the universal life insurance company settled a general decline in interest rates is an indisputable fact.
Ping An individual's accession to the WTO earlier universal insurance settlement for 2 months, interest rates fell to 5.25 percent, and Taikang prudent financial management, excellent series of wealth from July's 5.8 percent decline in a row to 5.25 percent, Huatai Life of Moses Choi family life is Since the beginning of July all the way down to 4.6 percent, or 0.65 percent. Coincidentally, his family made in Kyrgyzstan, the peace of mind for life insurance profit was 4 months, respectively, fell 0.9 percent, 1.05 percent.
As the "younger generation", Xinhua Life insurance companies such as the universal settlement rate also marked weakness. Xinhua Life's 3 products are declining interest rates. Proceeds finance fell 0.25 percent last month, the Supreme two-Jin Lee and packet while the silver one or 0.2 percent. It is worth mentioning that the Swiss win Skandia Life, Wen Ying choice for the settlement of the decline in interest rates failed to sign remained in the high 5.4 percent.
Landslide investment in a decline in interest rates
"August was introduced universal insurance, when compared to other companies may be involved in point is not high when compared with market uncertainty, it's the last 3 months, the flat rate billing, not down." A focus on investment-type insurance, foreign life Insurance company told reporters, out of its advantage of high interest rates secret.
Orient Securities analyst Wang Xiaogang is of the view that higher interest rates and reduced settlement is normal. Universal insurance rates down, mainly the overall rate of decline in investment income. On the one hand, is the bank to cut interest rates.
By the end of October, the central bank cut the benchmark one-year deposit and loan interest rates 27 basis points each, which is nearly two months since the third rate cut, which insurance companies exactly how to influence?
Guotai Junan analyst Yu-Long Peng of the view that interest rates will undoubtedly reduce the insurance assets of the yield. Of life insurance, the rate cut is the most influential of the old policy of low interest rates, the company, Ping An of China (601,318, it shares), 10% of the vote even dangerous that only about 5% of traditional insurance, surrender The impact of interest rates is relatively small, and the country life and have Taibao about 20% of traditional insurance, and did not vote even basic insurance, a relatively large impact on some.
Northeast Securities analyst Zhao Xin believe that the rate cut is not conducive to the insurance funds in the fixed-income products on the allocation of funds, but in favor of premium income and an increase in insurance product structure optimization, a neutral impact. However, in the interests of a substantial decline in investment income category, the premium income in the category of fixed-income assets can not be fully digested in a way to increase the pressure on the profitability of insurance companies.
Universal dividends have been frozen by holding?
When the universal risk in bad times, most of its life insurance companies are no longer enthusiastic.
"Universal client insured for life insurance, when their sales have concerns, do not feel at ease." Xinhua Life Insurance, and frankly, a senior business manager, universal insurance and capital markets closely linked, if not the market, customers found that in the end, after deducting the cost of the accounts Less value, the corresponding insurance policy holders by the end of the proceeds less, and the protection afforded to the elderly may be very limited. However, there is a clear risk of dividends on a regular basis the amount of return and protection.
The manager also told reporters in Beijing at the end of the introduction of universal insurance, if the stage is covered by insurance, or to promote their own reassuring.
Clearing a decline in interest rates, the original best-selling universal insurance will inevitably reduce the attractiveness of some of the customers. Universal pre-sales of the larger insurance companies, as the current round of interest rate adjustment may be subject to shocks. Some companies and has always been a panacea for the sale of insurance is not a cold, is not affected, also was secretly glad.
"In the company's product strategy, the risk is not omnipotent master of the push. At that time, even for other companies, selling everything hot, and our sales departments and branches have pressure, but looking back now, when the position is quite accurate." Xinhua Life Insurance Corporation, told a reporter.
However, Orient Securities analyst Wang Xiaogang believe that the fundamental background of the investment income is not good, no insurance product can give a high rate of return.
And most dangerous level of apathy, the above-mentioned foreign life insurance companies insist on universal insurance sales of its heat. They introduce the above-mentioned companies, although it is now cut into the channel, the expected rate cut, but we are the company's investment positions will not be easily adjusted. Omnipotent and risk faced by the main customer base is mid-range customers, the expected return on investment is relatively low. Therefore, even if the rate cut, the company will not adjust the product.
Although the overall decline in investment income is the result of universal insurance settlement decline in interest rates is the main cause, but a matter of fact, life insurance companies in an awkward position indeed, on the one hand, insurance companies, in order to maintain the universal appeal of the insurance market and bring premium income, Clearing interest rates will have to remain at a relatively high level. At the same time, but also to guarantee a certain degree of room for profit, not universal insurance settlement to keep interest rates at a higher level.
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