Near the end of the year, insurance companies set off a new wave of capital, in November alone, there are 5 foreign life insurance companies to the China Insurance Regulatory Commission to submit a capital program, and have been approved; Sun Life Everbright one of the biggest capital increase, 300,000,000 yuan RMB. This year, the insurance sector in the expansion and development of the business to continue to maintain a high growth rate, which the company's capital strength and solvency of the higher requirements of capital has become a matter of course to ensure sustained growth.
More than 30 high-risk access to capital
According to the China Insurance Regulatory Commission Web site published information, as of November 21, there are 33 insurance companies access to the capital 34 times. Hai Kang Life capital of which 2 were 100,000,000 yuan increase in January and June to increase 300,000,000 yuan, currently the company's registered capital has reached 1,200,000,000 yuan.
Access to capital in the first half of a total of 13 insurance companies, including Volkswagen, China and Thailand, all states, the Bank of China, Ping, such as EMC 9 for the Insurance Company; the second half of life insurance companies have taken up the banner of capital, peace, Taibao, the Thai city of De Alliance, Pacific-Aetna, AXA Life, Prudential Life Insurance, and other 13 life insurance companies registered capital changes, the old-age life and endowment Tyco has also completed the third quarter of the capital.
Life insurance companies to increase the "passion" is higher than that of property insurance, life insurance companies to complete 17 investment, foreign life insurance companies accounted for nearly 60%; Chanxiangongsi may have higher than average increase rate of life insurance. If by the end of October, and again in the Group and other shareholders to join the vast land of 3.0 billion capital injection insurance; Tian An insurance capital increased from 2,172,000,000 yuan; bringing peace to the insurance capital to 4.6 billion.
By the impact of capital market this year, the proceeds of insurance funds has been watered down, has begun to affect the solvency of insurance companies adequacy ratio. In the first half of the national work conference on insurance regulation to disclose the solvency of insurance companies reached less than 12, some of which were taken to impose restrictions on business and ordered the capital, and other regulatory measures as soon as possible in order to improve solvency. Accordingly, the person is expected that insurance companies solvency adequacy ratio dropped to ease the pressure will be to maximize the protection of the insured person's insurance benefits.
The middle class, different life situation
This year's insurance capital has more than doubled last year, against the target to ease solvency problems. According to the September 1 this year, the implementation of the "management of insurance company solvency requirements", such as insurance companies solvency adequacy ratio below 100%, the China Insurance Regulatory Commission would have been in the business, branch construction and dividends to shareholders, executives pay Equal pay for work, the use of funds, and many other restrictions, until the settlement of its solvency problems. A few days ago, the land of insurance in the completion of the 3.0 billion capital program, the China Insurance Regulatory Commission to apply immediately to the lifting of the ban 5 non-city auto insurance business.
Production, development of the life insurance business is very different situation. Insurance premiums far below the growth rate of life insurance, business insurance in the first three quarters of premium revenue 184,040,000,000 yuan, up 18.6 percent; life insurance business premium income 545,590,000,000 yuan, an increase of 63%. But Chanxiangongsi compensation is higher than the growth of life insurance: the first three quarters of the national compensation insurance business 98,150,000,000 yuan, up 40.2 percent; pay life insurance business 107,510,000,000 yuan, up 32.2 percent.
The industry believes that the major life insurance companies to increase business development services. In the first half-life insurance business of the Bank's explosive growth, put forward a higher solvency requirements, together with the stock market dragged down earnings, resulting in an adequate solvency rate of decline. Of life insurance companies, although there was no serious question of survival, but to prevent the emergence of big ups and downs in business next year, continue to maintain steady growth through capital increase to improve the solvency is imminent.
On the contrary, the Insurance Company due to external high cost of sales, coupled with natural disasters since the beginning of the amount of compensation increase, the rate of one after another breakthrough in the comprehensive cost of 100%. Insurance companies once there is an adequate rate of solvency problems, including the China Insurance Regulatory Commission will be subjected to restrictions on business, including a number of regulatory measures, is likely to cause cash flow shortage. In other words, the Insurance companies can successfully achieve the increase will have a direct bearing on the survival of the status quo.
Insurance capital encounter problems
The solvency of insurance companies are facing shortage of available capital Kuogu, such as Subordinated Debt issued a short period of time will be the most effective way. At present, Chanxiangongsi solve the solvency of the road does not go smoothly. Listed in order, for example, if in accordance with the enterprise for at least 3 years, the basic requirements of IPO profits, Chanxiangongsi this year's profit is likely to be held, the operation of low-income funds is difficult to make up for the loss resulting from the underwriting.
Insurance companies have taken some form of employee stock ownership and increase their equity. If the Chinese joint, all state insurance have been taken in this way, but there is no guarantee continuity.
Shareholders to hand additional capital, or the further introduction of strategic investors, seems to be enough to save Chanxiangongsi from the solvency of the plight of the best, but Chanxiangongsi due to the lack of attractive, does not seem "in demand." It is understood that the beginning of the year just completed a capital increase of Chinese-funded Insurance Company, the second round of its capital program has been launched for a long time, since the management has yet to determine the note, was stalled.
Insurance companies of a certain person in charge said that life insurance companies saw their access to capital, is really a bit jealous. The crux of the matter is still in its operation, the size of the bottom-up management fees led to the rise and decline of the quality of the business, coupled with the internal risk controls in place, many shareholders in the capital when it was a Qieyi.
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