"From August of the life insurance premium data, Jian Guanceng designed to regulate insurance business of Bank of cool action and tangible results can not be seen, once in September to operate the data released, the premium growth rate will be reduced rather Obviously. "Recently, the industry authorities told reporters that the upcoming January 2008 to September within the insurance industry, is expected to appear life insurance premium growth, especially in Bancassurance channels of premium growth slowed down significantly .
As a result of the capital market remains in the doldrums and the pattern of turbulence, investors in the "hedge" the role of psychological factors, the year in January to August of life insurance premiums, is still continuing since the first half of the high-growth. According to CIRC statistics show that by the end of August ended, the life insurance industry is still the same period last year premium income increased 66% more than in the first half of this year, with growth in life insurance premiums of more than 60% in July year-on-year growth rate of 66.7% no Letter; Bank and Insurance in July in which the premium channel revenue growth of 159.6 percent year-on-year, far more than the whole life insurance premiums of more than 66% increase; some of the life insurance business of the Bank Enterprise gone up by almost 200% year-on-year.
As an important behind-the-scenes "Pushing Hands" Bancassurance business, in August this year to become the natural life of the National Work Conference of the key objectives of regulation. The reason is that the Bank operational security "over the" Behind the life insurance industry has been cut-throat competition fees and new business profit margins decline, apparent pressure on the solvency and other issues.
Chen was assistant to the chairman of the China Insurance Regulatory Commission said at the meeting that the bank supervision department from the insurance to start as soon as possible to control the growth rate of life insurance business, concentrating on business restructuring, in order to avoid negative growth next year or so of ups and downs of low growth and achieve industry The "soft landing." As a result, the China Insurance Regulatory Commission put forward a clear channel for banks to lower the premium growth, lower interest rates and dividend rates universal insurance settlement to the long-term sustainable level, stringent control over non-payment of fees, and other specific requirements.
It is reported by the China Insurance Association of China in the second half of 2006 but has not released the implementation of the "banks, the postal insurance agent self-discipline" (referred to as "the" Convention ""), currently being re-presenting the "strict implementation of Security Bank of the insurance procedures The maximum rate of pay. " At present, China's insurance industry requirements of the National Association of provincial and municipal branch of the Revised Scheme as soon as possible, as soon as possible in order to promote the standardization work on the right track to enter the final of the insurance market in the formation of the main constraints.
Bancassurance channel for the insurance fee, "the Convention": ordinary dividends and the Type-co-existence in the mid-stream to pay life insurance products, 5-year and the following products must not exceed 2.5 percent of premiums, 5-10 years for the product 2.5% to 3%; 10-year and above the product must not exceed 3%. Universal-type products wholesale to pay no more than 3.2 percent; the following year and accident insurance premiums should not exceed 10%.
Analysts believe that this behavior is likely to be standardized in the short term impact on profits and on behalf of the Bank of silver-scale security operations, but the Bank of security fees once the reunification of the channel clear, as is currently the insurance industry and agencies of the bank channel, will realize that this is only Silver is a single security to reduce the business profits and therefore no longer simply hope through the sales agent of insurance products more access to the main business of higher profits, but this increased investment, more focus on the provision of professional insurance sales and Advisory services through the "big cake" to obtain the same profit; At the same time, this will help put an end to the new company, small companies just because of the size of the means to take unfair competition, insurance companies will be more focused on the Bank of security products and R %26amp; D Marketable.
Related statistics show that in the first 7 months the life insurance industry in the past 10 years to create the largest year-on-year increase in premium income Bancassurance channel up to 244,370,000,000 yuan, life insurance premium income accounted for nearly 50%. Insiders believe that, in accordance with the actual situation in China, Bank and Insurance premium income accounted control channels in less than one-third of the more reasonable.
7, 8 in life insurance premiums experienced high growth for the month, people have observed, many companies have lowered interest rates universal insurance settlement, some market players have made it clear that "to reduce premium growth."
"In our company, even for the current risk is basically a moratorium on the sale of the state, because no one is interested." Recently, a vote was not even pushing the Sino-foreign joint venture life insurance products company, told reporters the case, he said, the company According to the latest regulatory authorities have been requested, reduced universal insurance settlement rate, from 5.75% to the current 5.25 percent.
And even the risk for death compared to stagnant sales, universal insurance once this year due to high interest rates and settlement in the Bancassurance channel to play the leading role, but based on the capital markets to bear the risk and Jian Guanceng repeatedly prompted to give the background of the major risk after another rate cut Universal insurance billing rates, to "cool down."
National Day vacation after the first working day, more than the silver-life insurance companies, individual channels of universal insurance products, clearing further interest rate cut, most of them remain at 4-5 percent above the level between.
As far as the public Web site show that China Ruixiang Universal Life insurance settlement rate since January of this year jumped 5 percent to 3 month's 6.05 percent, down month by month the beginning of April, were 5.85%, 5% and 4.9%, 4.5 percent, the latest show of the settlement in September compared with 4.05 percent interest rate. In industry, China Life is an early settlement of interest rate risk will be a panacea for the reduction of the life insurance business, its current level of interest rates of 4.05 percent, compared with other major life insurance companies on the low side.
In fact, since one of the Quarterly Bulletin published since the market has been worried that the continued downturn in the capital market shocks the case, the universal insurance companies than the current investment rate of return of the settlement the long-term interest rates to maintain. The risk rate from the current operating level, universal insurance settlement of the reduction in interest rates and steps to reflect the different business strategies and product marketing strategies.
Part of the universal life insurance companies want to risk clearing interest rates remain at relatively balanced level, so as to avoid any major fluctuations in the affected policyholders and consumer confidence in the willingness to buy. If the Pacific (601,099, it shares) Life, Taikang Life, and so on, Taikang Life Bancassurance channel, "rest assured that financial management" universal settlement of interest rate risk, since January this year to July has been maintained at the level of 5.8 percent, in August down to 5.5 percent The latest display of the settlement in September for 5.25 percent interest rate.
To risk everything to fight product-based Ping An Life's long-term risk to a channel-oriented, silver and security operations at a relatively low proportion. In the two channels, Ping An Life has taken a different billing rate adjustment policies. In channels such as insurance, universal insurance settlement of its interest rates since January 1 this year is set at 5.25%, 3, 4 to 5.5 percent for the month, May to August has remained at 5.75 percent level in September down to just 5.5% On the contrary, Bank and Insurance channels recently released by the universal insurance settlement in September compared with 5.25 percent interest rate, which is lower than 000 channels of the risk level of interest rates, the industry is that this means that peace on the risk of reliance on more channels.
"Green in September grew 30 percent premium to a risk-based business to pay the long-term view, the current has not changed in the future will not change." Orient Securities analyst Wang Xiaogang, in its analysis of the report that Ping An Life insurance accounted still silver Is not high, so to avoid the "security of the large fluctuations in silver."
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