A few days ago, the domestic A shares listed on the three country life insurance companies, Ping An, Taibao have been published in 2008 in the third quarter report, the insurance business rose, investment income dropped significantly Provision for asset impairment loss of the three companies has become common. With the same period last year, China Life Insurance (601,628, it shares) in premium income, the largest increase, reaching 56.7 percent; China Ping An (601,318, it shares) of the decline in investment income and asset impairment loss provision rate of the largest, reaching 42.2% ; China Pacific Insurance (601,601, and shares it) is to maintain the highest earnings per share for 0.51 yuan.
A number of indicators is a tacit understanding
As the domestic insurance market, the competitive Big Three, the country life, Taibao, safe in the third quarter of 2008, the report is so rare agreement: business income, investment income and net income per share, provision for impairment, such as staging a number of indicators " Taoyuan knot justice. "
The three insurance companies operating income rose. This year in the first nine months China Life premium income 248,595,000,000 yuan, up 56.7 percent; China Ping An insurance premium income 99,408,000,000 yuan, up 30.5 percent; the realization of China Pacific Insurance premium income 76,817,000,000 yuan, an increase of as much as 41.8 percent.
Investment income, net earnings per share fell one voice. China Life's investment income in the first three quarters 45,319,000,000 yuan, up 16.3 percent decline; China Ping An investment income 26,567,000,000 yuan, up 42.2 percent decline; China Pacific Insurance investment income 14,818,000,000 yuan, a decrease of 31.4 percent. Compared with the first half of the third quarter of China Life Insurance earnings per share 0.08 yuan, 0.3 yuan reduction; China Pacific Insurance loss per share of 0.21 yuan and 0.93 yuan reduction; China Ping An a loss of 1.06 yuan per share, to reduce the 2.05 yuan.
U.S. debt at the global financial crisis triggered by the growing tsunami, a number of major international financial institutions to be difficult, on the verge of bankruptcy. In order to avoid further into the future the company faces the risk of fluctuations in capital markets, in the first three quarters of this year, Ping An 17,264,000,000 yuan Provision for impairment of assets, provision Taibao 3,602,000,000 yuan, the life provision in the amount of 8,730,000,000 yuan.
Pay executives of the affected
China Ping An Group in the third quarter of the combined balance sheet shows that 7-September, China Ping An Group to deal with workers pay for the amount of 491,000,000 yuan has been paid to the workers as well as to pay workers in cash for 267,000,000 yuan, the two combined 7.58 Billion yuan, to reduce 1,066,000,000 yuan, reaching 58.4 percent decline. It seems safe executives and employees of the Group this year's pocketbook has been affected.
China Ping An 2007 annual report shows that China Ping An, chairman of the Group of annual salary of up to 66,000,000 yuan, there are 2 pre-tax pay executives more than 40,000,000 yuan. The question of peace has been paid to explain: First, set up four years ago, the H shares and shares linked to long-term cash incentive plan, and the other is high-speed performance in 2007's growth performance bonuses.
Oct. 28, China Ping An A shares and H shares both fell to the lowest price since listing, A shares fell to the lowest price 19.9 yuan, with the all-time high stock price of 149.28 yuan, a difference of nearly 130 yuan; on the same day, H share price down To 22.7 Hong Kong dollars, with the all-time high price gap has more than 100 Hong Kong dollar.
Since the peace executives and pay a virtual long-term incentive plan options, the growth of high-speed performance bonuses linked to performance, in the face of dismal performance this year, Ping An executives will pay it down?
According to informed sources, the peace group of executives has been worried about this year's pay, the company market-oriented pay system depends on the results of operations and changes in stock prices, the current situation is bound to pay the individual will be affected, and certainly not so much last year .
A number of firms optimistic about Taibao
China Pacific Insurance announced 2008 third quarter report, Haitong Securities (600,837, it shares), CITIC Securities (600,030, it shares), China vote Securities, Huatai Securities, and other firms to give more than recommended, and strongly recommended holdings Rating. In contrast, the brokerage's rating on China Life more reservations about, Guotai Junan, CICC, Haitong Securities firms such as the unification gives the company a neutral rating. China's Ping An Securities rating difference is whether the profit performance of the year, China International Capital Corporation that the company is facing the fundamental situation is still grim, Shenyin Wanguo stress that fourth quarter earnings still.
Securities analyst Xu vote in Thu Duc believes that the first three quarters of this year, China Pacific Insurance made a net profit of 3,876,000,000 yuan, surrender payments and 13.8 percent year-on-year decline for the sale of Class Fukui reduction of the increase in the company's rating to "strong recommendation" .
To maintain the "overweight" evaluation that Haitong Securities, China Pacific Insurance in the third quarter despite a loss of 0.21 yuan per share, but fell 20 percent in Shanghai and Shenzhen 300 cases, only the net assets per share has shrunk 2.3 percent, is very Good performance. Third quarter net loss of 1,636,000,000 yuan, mainly investment income and a loss provision for impairment of assets has increased significantly.
It is understood that the only profit for the third quarter profit enterprises listed China Life insurance, securities that the company's A / H share premium negative, Liu Tongpan smaller, healthy risk-free, high valuation may face more The downside risks.
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