With the bank deposit interest rates, stock market remained low, universal insurance settlement in the interest rate in August dropped to start based on a further decline in October. According to the life insurance companies have the data released by the statistics, in October universal settlement of interest rate risk in the average interest rate level has been lowered to around 4.5 percent.
The industry believes that the insurance companies with the smooth depletion of reserves and future rate cut further, universal insurance billing rates continue to face downward pressure. This means that silver is another sales channel for insurance products - everything from market risk or cold.
Clearing the interest rate or lower
China's Ping An insurance settlement of universal interest rates had increased to 6% while the industry has become the "leader", despite the recent settlement has been lowered interest rates for two consecutive months, but the margin is relatively small. Their universal insurance settlement rate in August to 5.75 percent, 5.5 percent for September, October to 5.25 percent.
Samsung Air China Life's universal insurance at 5.3 percent annual interest rate, leads in the first. China Life Insurance (601,628, it shares) of universal insurance settlement rate in the first quarter reached 6.05 percent, but the speed and range of callback has been advanced. July dropped to 4.5% in August and then fell to 4.05 percent in September and October continue to maintain this standard. Taikang and Premier annual interest rate also fell to 5.25 percent. Taiping Life's profit more than health insurance and health insurance were reduced to 4% and 4.5%.
According to rough statistics, published in the current data, a total of 25 omnipotent insurance products, interest rates have settled down to under 4%. Of these, two products of the settlement rate has dropped to 3%, a joint venture life insurance company a group of old-age pension insurance (universal type) of the settlement rate of only 2.8 percent. , Said the industry, which indicates that universal insurance settlement with lower interest rates.
China Life said relevant, A shares more than half a year downturn trend of making insurance funds to invest a serious decline in the rate of return, risk everything smooth reserve has been exhausted; In addition, the central bank to cut interest rates three times within two months, but also for the universal settlement rate Down a row of open space.
Experts believe that the insurance companies for the first half of the scale of expansion, settlement continued to maintain high interest rates to attract more insurance policies. The second half of the profits for the security fight, in the general underwriting losses sustained decline in investment income, cost pressure, lower interest rates are expected to continue to cut interest rates in the future settlement is foreseeable.
Li Chasun risk far
The recent decline in the face of macroeconomic risks, monetary policy to clear, "a moderate liberal," means that a further rate cut may be in the future. Industrial Bank (601,166, it shares) financial operations center, chief economist Lu, political commissar of the view that there are at least 27 basis points rate cut of the space, and the chief macroeconomic analyst at Shenyin Wanguo Li Huiyong more of the view that the next 12 months will fall Rate of 135 basis points.
Everbright Securities analyst Xiao Chao-hu of the view that if market interest rates of systemic decline in new insurance policies will likely emergence of new Licha Sun.
The relaxation of monetary policy and expectations on the bond market has resulted in a significant impact. At the end of October after the rate cut, 1-year bond rate has dropped to 2.7 percent, while the 20-year Treasury rate is only 3.81 percent. "The future of the bond market interest rates may drop further, approaching the level of 2.5 percent, which is currently the lowest in the life insurance cost of capital." Xiao Chao-hu said.
At present, the insurance companies in time deposits and bonds, investment funds have reached the proportion of the use of more than 80% of the total. Insurance companies to buy long-term treasury bonds and corporate debt, the interest rate has long been part of the lock, revenue is not affected. But the new policy or investment after the expiration of the old debt, this part of the investment income would be affected.
Guoxin Securities analyst, said Wu Jian-Gang, Li Chasun next year is unlikely, but if China's macroeconomic situation, to maintain long-term downturn, the year after the case had no say.
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