Premium growth rate of decline in the insurance industry in 2009 will be a severe test Ying

Domestic senior China Life Insurance (601628, SH) yesterday announced the first of October premium shows that in October alone on premium income of 16,206,000,000 yuan, up 41.6 percent, down from September's 52.9 percent year-on-year growth rate level Continued since the July monthly decline in premium income growth trend. Guotai Junan Securities analyst Yu-Long Peng pointed out that the insurance industry, not just China Life, in the upcoming 2009, including Ping An of China (601,318, it shares), China Pacific Insurance (601,601, it shares), the insurance industry as a whole, premiums Growth will be a very difficult situation.

Insurance group "winter"

According to data released by the China Insurance Regulatory Commission, the monthly premium from the situation, the life insurance premium income in October this year for the first time less than 200 billion U.S. dollars, much lower than the third quarter of this year on the average premium income 22,179,000,000 yuan level .

Zhou researcher at the China International Capital Corporation's report pointed out that since the first quarter of 2008 premium income of Sturm und Drang of growth, the country's average life on a quarterly basis since the second quarter, premium income continued to decline since. In the first quarter of the average monthly premium income of 34,050,000,000 yuan, in the second quarter of the average monthly premium income fell 22% to 26,634,000,000 yuan, while a further decline in the third quarter of 17% to 22,179,000,000 yuan.

China Insurance Regulatory Commission Web site yesterday issued a circular pointed out that the China Insurance Regulatory Commission Chairman Wu Dingfu to Life Research and stressed that "the insurance industry not to accept the test of volatile capital markets and, more importantly, the insurance industry to enhance consumers, insurance companies Confidence. "This shows that the financial crisis, China Insurance Regulatory Commission on the domestic insurance industry to survive in the degree of concern about the situation of gradual escalation.

Yu-Long Peng said that China Ping An Bank and Insurance premium income in the decline in September over the same period China Pacific Insurance premiums have also experienced substantial decline in growth. In addition, because most of the pre-security insurance for the Bank of channels over-dependence, Jian Guanceng restrictions to the insurance companies have brought a greater impact, industry-wide premium growth slowed become a reality.

Dividend premium income test

Zhou pointed out that the security channel by the continued contraction in silver, has been States in the second half of life premium income growth weak trend has been revealed. Zhou believed that the country life, "the most severe test" will appear in 2009, in January 2009 the country life is to be announced dividend policy, will face a real bonus to maintain a high level of the company to lower net profit, or substantially Reduce the level of dividends at the expense of future growth in premium income of the dilemma.

Chinese insurance chief financial planners Yi-ping is in the "Daily News" reporter said, "more dividends to customers, the company is small, because the operation itself is not good, if not for customers, the company may be able to maintain, But this state of affairs of the company's future development will bring about a certain impact. From a certain point, the insurance companies would rather own losses, but also raise the dividend. "

Yi-ping pointed out that the domestic insurance market, currently the country's life insurance dividend ratio of the largest, with the renewal of a very large premium, it will focus on the renewal of a premium above. As for the new company, it is important that the first phase of the premium, usually dividends will be a little more.