Or a loss or profit decline in domestic investment Fukui three major insurance companies hit. However, the three A-share listed insurance companies main business continues to maintain a steady development of the first three quarters of premium income grow steadily.
To the trade, of course, welcome the steady growth of premium, but it may surrender and face the risk of contracting the profit decline was also alarming. At present, insurance companies should adjust the structure of the business, return to the traditional security business.
Business owners and stable development of
Bank of China Insurance Regulatory Commission in the security business risks to issue a warning against a background of the three major insurance premium blow-out growth momentum has been contained, but still maintain a steady growth.
Data show that in the first three quarters, China's life insurance business revenue 248,500,000,000 yuan, up 56.7 percent. Zhou Jin, an analyst in the company that, in addition to selling products in the first half of the Bank to promote security reasons, the higher the premium growth with the same period last year related to a lower base.
In the first three quarters, China Ping An Life Insurance business to achieve a total premium income of 78,448,000,000 yuan, up 31.4 percent; insurance and the steady improvement in market share and achieve premium income 20,960,000,000 yuan, up 27.2 percent; old-age pension insurance companies entrusted with the cumulative Management, investment assets under management have steadily scale. And other domestic life insurance companies, Ping An of China although the premium growth rate was significantly higher than last year, but because of the Bank intends to carry out security operations to control and therefore relatively robust growth, the impact on the future are also less likely.
China Pacific Insurance life insurance business in the third quarter growth rate has slowed down. However, before the Sept. insurance income amounted to 76,817,000,000 yuan, up 41.77 percent. China Pacific Insurance official said, with a view to pay Taibao in business, marketing, channel improvements, in the second half of the dividend payment period of insurance business will be relatively fast growth, quality of business will be enhanced.
Return to consensus as to protect
Premium rate stability is of course welcome, but the surrender of profits and decrease the risk of contracting should not be overlooked. Industry experts pointed out that the insurance companies in the capital market downturn, adjusted operating direction of the return of security operations, right time.
By the capital markets, insurance accounts for even more than deep down, arising from the phenomenon of surrender in Tianjin, Shandong and other places, a few small and medium-sized insurance companies suffered a focus of complaints and surrender.
In the recently held insurance analysis of the situation at the meeting, the China Insurance Regulatory Commission Chairman Wu Dingfu pointed out that a high degree of vigilance and focus of attention due to the lack of insurance and consumer confidence may lead to misleading marketing of non-normal risk of surrender.
However, the three largest life insurance companies in the three disclosed in the Quarterly Bulletin of the data was optimistic: China Life in September before the surrender rate of 3.76 percent, with the semi-annual report of a slight increase compared to 2.99 percent; Chinese investment in Ping An insurance even maintain Cautious and therefore less affected; due to China Pacific Insurance has not even voted to launch insurance product in the third quarter of surrender expenditure decreased by 37.12 percent year-on-year to 1,631,000,000 yuan.
On the surrender of the industry as a whole, there is no authoritative statistics released. However, the China Insurance Regulatory Commission recently said that the responsible person, whenever the capital market downturn when there will be surrender, surrender the current basic rate the same as last year. Now individual areas of risk even for surrender, one of the reasons is due to misleading sales, the China Insurance Regulatory Commission will make efforts to solve the problem, prevent insurance shaken consumer confidence.
In addition to the cast even dangerous, in the first half of the sales will also have a universal insurance premium income in the future growth and profits have a major impact. As a result of falling investment income, universal insurance billing rates have been down for two consecutive months. If this trend continue, the universal appeal of the insurance will be much lower premium on the contribution will be to narrow.
"If the central bank to cut interest rates further, time deposits and long-term interest rates sharply lower, insurance companies, will it be possible to substantially lower interest rates universal insurance settlement, then life insurance policies is expected to cost pressures eased." Zhou pointed out that in the study.
Against insurance companies by investment income and underwriting profits squeezed the status quo, the Central University of Finance and Economics professor Hao his insurance Su pointed out that the above-mentioned two aspects of the insurance is a source of profit, before the insurance company has become overly dependent on the former, leading to the generation of household financial management of alternative products Insurance protection products, not only deviated from the essence of insurance is not conducive to the stable development of the insurance industry. The financial crisis and return on investment for insurance companies to suppress the results, will lead to the development of the insurance protection products, and return to the essence of insurance.
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