Happy family is always the same, unfortunately, will have the unfortunate family.
Last year, domestic insurers in the enjoyment of madness by the A-share market brought about by the well-being of the same story, with the capital markets in the global financial crisis continued to adjust the depth, appears to be a taste of Leo Tolstoy's words their own misfortune .
Winter - the vast majority of insurance companies often talk about the terms in the near future.
"Winter" behind the show is a listing of large insurance companies, the fast growing insurance companies, insurance companies and small-scale three different types of facial makeup, unfortunately.
According to our reporter learned that the insurance companies have different initiatives, and even extreme "financial reinsurance" are again in the beginning.
Three "winter" types of facial makeup
"Different stages of development of the life insurance companies are not the same situation of hot and cold." November 11, a life insurance company in charge of Shanghai people say.
For example, as China Life, Ping An Life and other large listed companies, life insurance, capital market in spite of the sharp drop in investment income has shrunk sharply, or even a loss, but because of its huge assets and funds available, so a sense of crisis Is not reflected in the cash flow shortage.
This can be achieved through peaceful life in the desire to expand in 2009 silver proof security to the market. Early in October this year, the Bank held security meeting, Ping An Life again next year the Bank of security premiums of about 100% growth target.
"Life Insurance Group has pledged to inject equity into 20,000,000,000 yuan, the Bank of security to develop the necessary capital bottlenecks have been resolved and will not have a negative impact on solvency." Informed sources.
To accomplish this goal, life will be safe to open up bank branches to increase the manpower and equipment costs in areas such as multi-pronged approach.
Insiders said that for peace, and other similar companies, "winter", is the capital market led to dense fog and low capital gains rate, which has a direct impact on its profitability.
Secondly, the rate cut cycle, although the company's life insurance products, easy-to-sales, but can not find them for a long time period to match the investment products, it may be "more land, more also lose" a vicious circle.
"Therefore, the listing of large insurance companies, will now be reflected in more pressure on, how to make the investment income with the business continued to grow." Above the industry said.
On the other hand, as Taikang Life Insurance, Xinhua Life Insurance, Life and life, and so is entering a rapid growth of life insurance companies behaved in an expression of another deputy.
"Suddenly the depth of winter, such a change in how the company was relaxed environment of extensive development, and maintain the pace of development at the same time, in order to achieve effective allocation of resources-intensive development, must do their homework." A life in Shanghai Said the general manager of the insurance subsidiaries, in addition to the high-speed growth and the "winter" period of overlap in case of operating compliance issues.
Life Insurance Company in Shanghai in the near future some of the agents, managers and even financial misappropriation of premiums back stock investment on the rise.
In addition, small life insurance companies is more difficult in the volume of business there was no pressure, in the face of shrinking investment income instantaneous attack, resulting in a shortage of cash flow.
"Small life insurance company is facing the biggest test." Above frankly, general manager of Shanghai life insurance branch.
"Financial reinsurance" movement
According to the multi-reporter learned that many life insurance companies have developed a different style of the long-term "winter" measures.
For example, Xinhua Life Insurance, in addition to the business structure, and to stop the sale of Bank and Insurance channels to pay wholesale products, to develop products that pay period, the allocation of resources has also adopted a "maintain pressure".
"Maintain pressure, that is, optimizing the allocation of resources to invest more financial resources to encourage the development of the company's business direction and change the original allocation plan according to the premium costs." Xinhua Life Insurance, said one executive.
In particular, Xinhua Life Insurance, has put in more resources in the originally weak risk-channels, including the higher margin corporate risk short, silver and security operations, such as pay period.
As of October this year, Xinhua Life Insurance, Bank and Insurance channels of business before the payment period of 10 months to achieve a total premium payment period 532,000,000 yuan, up 290 percent, much higher than the total size of the premium growth.
Part of the small and medium-sized life insurance is to take direct control of costs, to reduce costs.
Sun Life Everbright Shanghai branch official, in order to cope with difficult times, the current Sun Life Everbright has stopped all recruitment, and will in the future, including a substantial reduction in operating expenses, such as advertising expenses, "is expected to cost reduction in the proportion of 20% Our focus in the deep of the original customer. "
Taking into account the overall reduction in the cost of business may be adversely affected, to take the life of America is another way to cut costs.
"The exhibition and related operating expenses, cuts in the Life of America will not be great, we have the major surgery is human and expenses such as rent." Joint life insurance internal sources, "for example, cuts in the future should be a cut The path, it is estimated that this year our year-end awards will be wasted. "
It is worth mentioning that some of the extreme winter are beginning to approach the movement of small life insurance companies, including financial reinsurance.
The trade rumors, has a small life insurance company in its 2007 to 2008 between 80% of insurance premiums through the Bank of the financial reinsurance "sell" to the re-insurance companies.
The so-called financial reinsurance, life insurance means that the company will in the next few years in terms of premium income to the re-insurance companies, reinsurance companies and its discount into this year's premium income, paid life insurance companies in order to solve the shortage of cash flow. This is equivalent to the life insurance company in the next few years in terms of premium income discount and then sold to insurance companies, but the policy remains the responsibility borne by the life insurance company.
The general practice is to re-insurance, insurers will be high-risk reinsurance premium income through to the reinsurers in order to achieve the risks equally.
"This is extreme only in a very lean period, so the emergence of such practices is no doubt from the side of the small life insurance company confirmed the cash flow of tension." Industry sources said.
No comments:
Post a Comment