A financial weekly China Insurance Regulatory Commission hearing held yesterday in the third quarter of 2008, when the press conference announced by the end of September this year, China's insurance industry to use the funds for the balance of 2,880,000,000,000 (trillion) yuan, representing a growth of 7.6 percent early next year. So far, China's insurance companies has reached 115, the total assets of insurance companies more than 3,000,000,000,000 yuan.
A speculation floating shares to reduce surplus
CIRC spokesman Yuan Li said at the meeting, in the same period the use of insurance funds in the balance, bank deposits accounted for 24.5 percent, bonds accounted for 57.6 percent, investing in stocks, shares and securities investment funds accounted for 14.2 percent, other Investment accounted for 3.7 percent. 1-3 quarter of this year, the use of insurance funds yield an average rate of 2.1 percent.
He said that the industry as a whole from the point of view, direct investment of insurance capital A-share market to the principal amount of the loss has not happened, just floating a substantial reduction in surplus, investment funds have had some losses. As the insurance diversify asset allocation, the overall risk is still controlled in the range.
But he stressed that the China Insurance Regulatory Commission will guide the insurance sector experience, lessons and improve the system and standardize the operation, according to their ability to carry out robust foreign investment and foreign investment will not be lost, and does not allow insurance companies For overseas investment.
Investment in listed companies can not stake
Yuan Li said, insurance companies, investment in unlisted shares, has been recently approved by the State Council, China Insurance Regulatory Commission is currently formulating the rules of the pilot.
He said that the insurance company's investment in unlisted shares of two parts: one is for investment in infrastructure, the current insurance fund infrastructure investment concentrated in sectors such as railways, infrastructure investment programs, the State Council Not long ago approved the expansion of pilot investment in infrastructure; second part of the investment in unlisted companies shares because of liquidity and risk, such investments will be more cautious advance.
"The relevant departments of China Insurance Regulatory Commission is studying the pilot rules, or to choose some of the main management norms, investment ability, and be able to effectively control the risks of insurance agencies to carry out pilot projects in this area. As for what projects, the next step Insurance Regulatory Commission Will be doing some of the guidelines. "Yuan Li said.
China Insurance Regulatory Commission announced earlier data show that at the end of the first half of this year, the use of insurance funds balance of about 2,710,000,000,000 (trillion) yuan over the beginning of this year grew 1.3 percent, with shares (equity) investment 290,540,000,000 yuan, accounting for 10.7% .
For a full investigation even surrender
For the near future in the areas of individual collective surrender, said Yuan Li, the China Insurance Regulatory Commission was conducting an investigation, and in accordance with the law related to the violation of laws and regulations and personnel to deal with.
Yuan Li pointed out that this year, 1-9 this year, national life insurance company's surrender rate of 2.98 percent, basically the normal range, with the same period last year. There are also individual districts, there have been some individual companies linked insurance surrender. China Insurance Regulatory Commission surrender to the cause of the incident, the reasons for that are many, including the sale will not even vote in the risk characteristics of the investment income of uncertainty aptitude, and other customers to explain.
He stressed that the risk is even cast a new life insurance products, should focus on long-term investment, according to its own customers should also be the case from the perspective of long-term serious consideration, as far as possible to avoid unnecessary loss of surrender. Customers also can be linked with a number of insurance investment account the characteristics of money into bonds, and so on-the relative stability of the current account to avoid investment risks. China Insurance Regulatory Commission will also be closely linked insurance business, requiring the company to increase the disclosure of information, and customers do pay a return visit, should be strictly investigated and illegal, and effectively safeguard the interests of insurance consumers.
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