The first three quarters of the Big Three were taken on insurance premiums 400,000,000,000 yuan

The industry is expected in the fourth quarter of the total monthly life insurance premium income growth would decline markedly in the first half of next year and the situation is likely worse

Leaving aside decline in investment income, from the main insurance performance, the A shares of the three insurers listed companies to hand over a good "report card." The first three quarters, China Life Insurance (601,628, it shares), Ping An of China (601,318, it shares), China Pacific Insurance (601,601, it shares) recorded a total premium 407,600,000,000 yuan, year-on-year growth rate of more than 30%.

The rapid development of such a situation, can continue to the end of this year or even next year, the market has become the focus of attention. From the Big Three have been disclosed in three of the Quarterly Bulletin, we can see some clues. In the industry view, if from 2007 to 2008 is in the first half of the insurance industry of the harvest season, then next year will be the season of winter and farming.

Inflection point premium

"In the first three quarters of this year, Ping An of China to maintain steady growth in premium income, which, in the third quarter had net premiums earned for the 29,114,000,000 yuan more than in the second quarter than the ring fell 5.5 percent, reflecting the Bank of contraction and investment channels for insurance products to attract Factors such as the decline of its premium income slightly negative impact. "CICC insurance Zhou researcher at the Third Quarterly Bulletin Comments judge in the case.

Chinese safety problems is not an isolated phenomenon. Orient Securities insurance that the researcher Wang Xiaogang, China Pacific Insurance (601,601, it shares) in the first three quarters have been earned premiums 68,000,000,000 yuan, which is lower than originally expected 2,000,000,000 yuan. The main reason is that life insurance premium income in September low of 52 billion yuan, up 21 percent, significantly lower than the first 8 months of growth of 57%. September has always been with the January, March and June of the same annual premium income of the top four, while premium income in September this year, even lower than August's 5.7 billion. The main reason is estimated that the China Insurance Regulatory Commission on Banking and Insurance business "window guidance."

Of course, in addition to regulatory control, capital markets also play a role in drag. The first three quarters of this year, China Life Insurance (601,628, it shares) in the Chinese accounting standards under the premium income has been earned over the same period last year increased by 57.6 percent, but the ring more than in the second quarter fell by 17.7 percent.

To the industry to see three of the Quarterly Bulletin of the problems is: this year's outbreak of the life insurance industry growth to benefit from major investment-insurance alternatives to stocks, funds and other investment products caused by the downturn in capital flows conversion, and the next year once the dividend rate and Clearing a noticeable decline in interest rates will affect the banking and insurance investment type products, resulting in the formation of premium income will be ups and downs. In addition, the solvency of insurance companies listed on a substantial decline in the capital even more scarce of the bank insurance development will inevitably be limited.

Food store signs

"Dongcang season, to preserve strength is the most important." Described in the next year the life insurance industry in the state to survive, a life insurance company, said high-level.

In the industry are generally expected in the fourth quarter of this year, the monthly total life insurance premium income growth will drop back to 20%. For the first half of next year's premium income is likely to be even worse. They believe that the bull market when the accumulated surplus of floating basic depleted reserves are also smooth consumption by half. Next year, investment income may fall to 3% to 3.5% level, Bank and Insurance growth is flat or negative growth.

A senior insurance analyst analysis, life insurance companies in order to resolve the current difficulties, mainly depends on three possibilities: reduced settlement rates, bond yields rose sharply, or the domestic stock market increased significantly. However, after the two ways to achieve it seems to me that the current difficulties. All the signs indicate that life insurance companies have adopted a way to start the first store grain for the winter.

To undertake in August fell substantially on the basis of most of the life insurance company in September announced by the universal insurance settlement rate, now has a further downward trend. Universal insurance settlement in the interest rate from 7 to a high of 6 percent for the month fell to 4-5 percent in the vicinity, have lowered the minimum to 3.65 percent. According to industry expects next year will also usher in a dangerous dividends down the peak. "We expect that in January next year China Life will be the first to lower dividend rate." An insurance analyst said.

On the other hand, the reduction in interest rates decline in premiums is not a good thing. With the dividend rate of universal insurance settlement and a decline in interest rates, interest rates, the Bank's non-insurance healthy competition war came to an end, the industry began to compete more rational. Insurance companies over the next two years the development of the main tone is likely to be cautious systolic and operational control of stock investment. A joint venture life insurance company related to the person in charge told the reporter, "Next, we will pay attention to cost control, product margins. Difference in investment income, cost control is more significant impact on the merits."

In entering the cycle of rate cut, after the decline in investment income, insurance products also highlights the greatest rate of return will be transferred to the function of security risks come. In the product selection, policy holders may abandon the investment-type insurance, choose to buy some of the traditional savings-type insurance products.

Shenzhen foreign life insurance premium income fell significantly

Shenzhen Bao Jianju recently released the first three quarters of the data showed that the risk for even the difficult sales, Shenzhen foreign life insurance premium income fell significantly. One Assurance Company Shenzhen Branch of 15.8 percent year-on-year decline, investment CIGNA Shenzhen branch declined by 62.29 percent year-on-year, in De-linked premium income dropped 33.8 percent.

Data also showed that by the end of September this year, Shenzhen's insurance market to achieve premium income 18,789,000,000 yuan, up 36.66 percent, of which, life insurance has played an important role in promoting, life insurance premium income to achieve the original 10,606,000,000 yuan, up 55.42% .

In life insurance, Ping An Life Shenzhen branch, country life and the Shenzhen Branch Shenzhen Branch Taikang top three, the premium income of 3,245,000,000 yuan, 28.1 billion and 1,609,000,000 yuan; in insurance, Pai The first three of the Shenzhen branch of the human security, peace and Taibao Shenzhen Branch Shenzhen Branch, to achieve premium income of 1,752,000,000 yuan, 1,435,000,000 yuan and 1,166,000,000 yuan.

Shanghai Bao Jianju to research the life insurance industry, "winter"

Down in the face of economic difficulties brought about by sales, I do not know when the reversal of capital markets, increasing investment in Fukui, near the peak due to honor products, insurers how the winter? Informed sources said that on November 11, Shanghai Bao Jianju life insurance company in Shanghai to research issued notice to the life insurance industry in Shanghai by the end of this year and early next year for the development of the situation thoroughly.

These people told reporters that the Shanghai Bao Jianju research related to the specific content of the two. On the one hand, concerned about the end of 2008 the company's preparations for winter, including the company in November 2008, December's overall business development of the forecast; companies in 2008 the business channel business development and analysis of the judge; for the current return on new life insurance products The rate of reduction of the status quo in general, in response to customer surrender, the promotion of new life insurance product sales of the specific measures.

"In the first half of this year because of the economic situation also is true that most of the life insurance company in the third quarter of the year when the indicators have been completed. In 2008 but did not Nanai winter, the spring of 2009, the day before had not. Even for dormant insurance, Universal insurance difficult. "A life insurance company complained to reporters. According to Shanghai's life insurance industry in general is expected, since the first quarter of this year life insurance premiums of a sudden jump in the next year in the first quarter of negative growth potential is very great.

Life Insurance Company Shanghai Branch, a person in charge told reporters that even if the environment is not good, head of the examination branch of the indicators are still rising. "Since we made this year, Bank of security force in stages, requires us to head in the mid-stream next year to pay premium for double the same period last year, to pay premium growth period of not less than 50%."

This year, the Bank of surging business insurance companies, because there is no room for how much, so next year initiative to reduce the internal assessment indicators, and began to open up Xijing profit. Xinhua Life Insurance, a Shanghai branch of internal sources, the company is currently marketing diversified line next year on behalf of the plan by telephone on marketing their brains.

It is worth mentioning that in the past has been voted bet even the risk of individual life insurance business next year worrying situation. A life insurance company, revealed to reporters yesterday that life insurance companies in Guangdong Province near Hong Kong Daily News of the trial cast even the basic insurance products are not approved. Shanghai has just issued a vote to implement even the sale of insurance qualifying examination emergency circular calling for insurance companies, insurance intermediaries, banks, as well as the relevant postal staff this year on November 29 and December 14 of the examination in order to raise the sales force Into the "threshold", or the failure to take the exam fail, since January 1, 2009, sales have been deprived of their eligibility to vote even dangerous.

Misleading sales after the storm in parts of the Bank security restrictions on the sale of stagnation

By going through security silver misleading sales after the storm, Jiangsu, Zhejiang, Shanghai and other regulatory bodies have been taken by the Bank of security measures to control sales of stagnation. In Jiangsu, insurance companies, the Bank's security staff stagnation within the exclusive sales have been suspended for the first time.

Reporters learned that recently, Jiangsu Baojian Ju, the Banking Bureau jointly issued the "Acting on the strengthening of the banking business and regulation," which called for insurance companies falling within the exclusive protection of the Bank shall not in the business hall of the bank branches to carry out marketing activities. Previously, only to the provisions of the agreement in some banks and insurance product sales agent contract in the book appeared. Jiangsu's notice is the first explicit prohibition of Banks and Insurance Companies specialized in banking business network sales hall of documents.

It is reported that insurance companies and banks to sell insurance products to take the "sales stagnation" mode, that is, insurance companies sent a silver in the bank insurance sales business lobby sales stagnation. In this mode, insurance companies and banks to cover sales staff can achieve effective control and responsibility for misleading the event of accidents, banking, insurance and mutual responsibilities onto others, that responsibility is difficult.

According to the reporter learned that in addition to Jiangsu, Zhejiang planning to strengthen the security of the Bank resident supervision sales model. Shanghai is also making out, "Bank of Shanghai life insurance products, new channels of service commitment."