The first to disclose in October premium income of China Life, China Pacific Insurance (601,601, and shares it), since the second half of this year, premium income growth weak trend has been revealed. From the Shanghai Insurance Association released the latest internal data show that in October of this year alone, new life insurance products (even for insurance, universal insurance, the insurance collectively referred to as dividends) of premium income group than the ring down. Economic bring down the insurance sales are increasingly highlighted the problem, next year is expected to market life insurance premiums may suffer negative growth pressure.
Premium usher in a turning point in advance
Originally considered only appear next year in terms of premium income inflection point now seems to have been earlier. China Life, China Pacific Insurance this week have been released in October this year, premium income from life insurance premium income in a single month trend, the former in October this year, premium income for the first time since less than 200 billion yuan, while premium income in October For the first time this year, year-on-year negative growth.
China Life Insurance in October on a single premium income for the 16,206,000,000 yuan, up 41.6 percent, since the continuation of the July monthly premium income growth continued to trend down. Taibao and life insurance premium income in October to achieve 4.3 billion, down 7.6 percent year-on-year, is the first time this year, year-on-year negative growth.
Taibao for life insurance premiums of negative growth, the industry analysis for two reasons: First, in the second half of the China Insurance Regulatory Commission started to control the size of the Security Bank, and Pacific Insurance Company of the Bank of China in the three major security operation the highest proportion, affected by the relatively large; II Taibao is to improve the product mix, active control universal insurance, bancassurance and the current risk of a universal moratorium on the sale of insurance products has been fundamental.
Industry analysts believe that in the first half of this year due to higher base level of premium income, together with the silver by the security business may continue to shrink, in the first half of next year life insurance premium income is likely to negative growth in premium income, however the structure Will be better off.
Dividends to protect the product transition
As insurance, high-density areas, Shanghai is a reflection of the country's insurance market activity of a typical city, the monthly data released considerable research and reference value. Even for the risk of "Waterloo" phenomenon began to spread to universal insurance and risk sharing. Shanghai Insurance Association of internal data show that in October of this year alone, Shanghai, the new life insurance products to achieve premium income 2,195,000,000 yuan, down 24.65 percent than the ring, a slight increase of 5.66 percent year-on-year.
The statistics were in Shanghai in 33 foreign life insurance companies, a total of 31 sale of new life insurance products, 24 companies emerging signs of decline than the ring, in which 11 companies a new type of life insurance premiums fell by more than the average level of margin decline Up to the 91.4 percent achieved.
Broken down to specific types of insurance, in October alone, even for Shanghai, insurance, universal insurance, insurance premium income dividends: 164,000,000 yuan, 509 million, 1,522,000,000 yuan, respectively, than the ring down about 11.2 percent, 33.7 percent , 22.4%. From the same period last year, in the same period last year, it is dangerous even for sales, the figure is too high for even lead to insurance premium income in a single month in October year-on-year decline as much as 78.2 percent, and universal insurance, risk sharing is still up 8.2 percent year-on-year, 78.1 percent .
"In the short term, security will be further reduced, silver, medium and long-term point of view, the China Insurance Regulatory Commission is making changes in life insurance premiums statistics, universal insurance, investment and even the risk of investment income is no longer part of the accounts included in the original insurance premium income, The small and medium-sized life insurance companies have been over-reliance on pre-cast even dangerous. Based on these two points, small and medium-sized life insurance business is facing a structural adjustment of product transition. "A joint venture life insurance company chief marketing officer, told reporters that most of the small and medium-sized life insurance companies are Strong R %26amp; D risk sharing, protection of traditional products, "due to risk everything on the matching of assets and liabilities of insurance companies require relatively high thus not suitable for small and medium-sized life insurance companies in large-scale development."
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