Capital along with the tide receded, the insurance industry calls for the "return of security" has become the voice of the only bright and clear.
Highlight the nature of the
Recently, the Ministry of Finance and the China Insurance Regulatory Commission announced a new "Accounting Standards for Business Enterprises" on the 2nd paper explained, as "security regression" to provide the institutional guarantee.
It is understood that, in fact, last year introduced a related criteria, some of the security and asset management revenue to be part of the separate provision. Premium calculation of the adjustment is a set of subjects adjustments. Indeed, there are premium income adjustments related to reserve duty, such as cost-sharing project will also make a change.
However, despite the measures will change the way the development of the industry constitutes a healthy lead, but the "interpretation" of the implementation details were not disclosed, the statistical methods may require some time to adjust.
Recently, several life insurance companies have told reporters that the new guidelines and research are concerned, but have not yet been related to changes.
A life insurance company product manager of the view that the new guidelines for the industry to bring more changes in the concept, let us re-examine the function of insurance is not only cover but also provide comprehensive financial planning and comprehensive features.
"To measure the strength of insurance companies should not be limited to premium income, this is too narrow-minded to understand. It should be noted that the size of the assets of insurance companies and so on." Believe that.
The Orient Securities analyst Wang Xiaogang also believes that the new guidelines will be implemented in the future of the insurance business, investment business have to tell, pay more attention to the risk underwriting business, and will also promote domestic and international standards into line.
Pilot Strategy
Data show that the insurance industry and even the Almighty for the premium is about the size of 200,000,000,000 yuan. The China Life Insurance (601,628, it shares) in October before 264,800,000,000 yuan for the premium income, investment income even dangerous for 60,000,000 yuan, universal insurance 11,000,000,000 yuan. Safe even for the insurance, universal insurance revenue share of premium income accounted for 10% and 40%. The launch has not even vote in the risk of China Pacific Insurance (601,601, it shares) in the first half of universal insurance revenue accounted for approximately 30% more than in the second half of universal moratorium on the sale of insurance.
It is clear that the premium measurement of the implementation of the new regulations will weaken even for insurance, universal insurance premium income for the contribution, and the companies will re-examine these products. Some companies are quietly engaged in the adjustment of the product.
Reporters learned that the original plan at the end of the year in Beijing to launch the universal insurance Xinhua Life is also a universal moratorium on the sale of insurance products, insurance dividends into the company since the second half pushed the main product.
Guotai Junan analyst Yu-Long Peng of the view that accounting standards will not form the basis for the development of insurance business, is a financial deal with the follow-up. Under normal circumstances, insurance companies will be based on profits rather than market conditions in accordance with the accounting treatment to the development of strategic business planning. Of course, also take into account a number of accounting standards in the area. After all, the financial accounting of the results of its indirect effects, such as market share, performance pay and self-assessment strategies.
In addition, Wang Xiaogang also of the view that insurance premiums will not give up the handling of the insurance business, not to save the investment business. To cast even the risk-based universal insurance company may have to fine-tune the product, but sales of investment products will continue.
Skandia Life Insurance told reporters that the persons concerned, "We have taken note of relevant information, at present, we will adhere to even vote in product strategy dangerous. In fact, even the cast from the insurance risk to the Almighty, we have to cast even the risk-based, not Deviated from. "
Changes in the ranking
In addition to the implementation of the new regulations may cause some of the company's product strategy changes, a more direct effect on various insurance may be the size of the premium.
For a long time, the insurance premium is the size of the market competition for the baton.
Societe Generale Securities analyst Hui believes that the implementation of the new guidelines, will be squeezed out some of the previous size of the company's expansion of the water, but little effect on corporate profits. However, unlike dividends and traditional insurance products, investment and even too much risk to the life insurance companies is not conducive to the stability of the scale.
"Last year, even voted best insurance products, even if the cast cut off part of the premium income, hard to do large-scale companies that market share will certainly be affected." The joint venture life insurance company that.
Last year, and Taikang Life in the silver market Gongchengluede insurance premiums make it the size of Xinhua, more than one, life insurance premium income to squeeze into the semi-finals of the list.
As by the end of October, the Life Insurance Company of the original insurance premium income amounted to 64,539,000 yuan. There are expected to trade at a premium of measures to implement the new standards will reduce the size of the income of life insurance 1 / 4. The proportion of pre-investment risk premium over the company's revenues will decline.
Hui also believes that the Bank of security products with more market share in the company of its impact may be greater.
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