December 15, 2008

Wei Ning Ying: premium income this year is expected to exceed 1 trillion

China Insurance Regulatory Commission Vice-President Wei Ning Ying in the "Beijing International Financial Forum," the fifth annual meeting revealed that this year China's insurance premium income is expected to more than 1,000,000,000,000 yuan, while the figure for last year, 703,500,000,000 yuan.

He pointed out that as a result of China's insurance industry is still in the initial stage of development, institutional, there are still a lot of financial risk-induced factors, which requires reform of the system to guard against financial risks as a fundamental way, focusing on enhancing the implementation of the system and binding , To eliminate the system level, there is the risk of hidden dangers and more effectively safeguard the stability of the insurance market in order to maintain the stability of the entire financial system.

He said that the next phase of the insurance industry should give full play to the function of security risks, and constantly improve the insurance industry in the economic and social development in the coverage and penetration; to follow the insurance business law, in particular the law of the profit cycle, and enhance profitability , Go-round, coordinated and sustainable path of development; to effectively protect the interests of consumers, from the insurance company to supply-driven into a demand-driven. Insurance supervision departments will step up supervision and severely punish all kinds of damage to the interests of consumers.

No comments: