Various major banks in the bond insurer introduced last night in relief plan is facing new pressure. • Warren Buffett (Warren Buffett) had disclosed that he has made the acquisition of most of these insurers of the highest quality assets.
The net worth hundreds of millions of investors to CNBC said that he had proposed acquisition of three bond insurers - Ambac, MBIA and FGIC - secured 800 billion U.S. dollars of municipal bonds. This three companies are struggling to maintain its AAA credit rating. In the loan-to-appear after the loss, AAA credit ratings of these companies has become a business model for the survival of the party.
Buffett's intervention seems to be a New York insurance regulators Eric • Dina Luo (Eric Dinallo) permission. This pushed up the stock market, but by the bond insurers and their potential impact on the bank losses, it is a challenge.
5 Aug 2008
Buffett extended to the three major bond insurers "olive branch"
"Unit God," said the U.S. investment master Warren »Buffett said that on the 12th,'s Berkshire» Hathaway (Berkshire Hathaway) will be willing to three insurers underwriting of the bonds worth about 8000 100 million U.S. dollars of municipal bonds to provide reinsurance. This news eased the initial investors in the further deterioration in the credit market concerns.
Bond insurers facing huge claims
Buffett in the United States CNBC TV interview, said that Hathaway had three largest U.S. bond insurer Ambac, MBIA and FGIC proposed, is willing to their underwriting of municipal bonds to provide reinsurance, but does not include other complex high-risk Financial instruments.
Bond insurer's role is in bonds issued to lose the solvency of responsibility on their behalf. Since the outbreak of the crisis, loan and mortgage bonds Wei Yuelv continues to rise, bond insurers facing huge claims. The world's largest bond insurer MBIA Inc. announced that its 2007 fourth quarter in its history with the most serious single-quarter loss. Ambac, FGIC failed to keep the bond insurer crucial 3 A credit rating.
The United States and the municipal authorities usually only received the highest rating of the insurance business. With some insurers ratings decline, many municipal bond issuers choose to give up insurance. As a rating of only 3 A large reinsurers, Berkshire in helping to stabilize the highest ratings of municipal bonds, municipal bond insurance was boosted resale value is uniquely advantageous position. This professional reinsurance will also bring new areas of the capital. Over the years, bond mutual insurer has been providing reinsurance, as the bond insurer's overall loss increase, the market also secured by the value of the doubt.
Buffett disclosed that a body had rejected his proposal, he is waiting for the other two institutions answer. He said in an interview: "It seems they did not open the door to accept us." Buffett also said that he was prepared for these bonds the insurer 30 days time to find a better deal.
Real help or limited
The industry pointed out that Buffett's aid scheme seemingly timely help, but in fact, the insurers have little real meaning. Buffett is the re-insurance is limited to the major targets of insurers minimize the risk of default, the best quality assets - municipal bonds, and real hot potato - all kinds of high-risk structured finance tools (such as vouchers, and other unsecured claims ) Were excluded, there is no fundamentally solve the problems faced by insurers. At the same time, high-quality assets will be re-insurance, the remaining asset portfolio risk levels actually increase, insurers downward pressure on the ratings was not the slightest mitigation.
Paris banking transactions in U.S. interest rates Co-Head Nicholas »Beckman said that this is good news, the market breathed a sigh of relief. But I think some of the excessive market reaction, the real problem lies not in municipal bonds, but the structural financial products.
Assured Guaranty Ltd. Chief executive officer of Dominica » said that Buffett's proposal includes only the bond insurer in the municipal bond business, so Chouzou funds to the bond insurer will exceed the benefits . Assured Guaranty is a stability has been received 3 A rating of the bond insurer, to provide reinsurance to other insurers. said that if the bond insurer of municipal bond business will be transferred to the Buffett, will find that they need more funds, because by then their business will be a higher risk of over-reliance on the private debt market.
Bond insurers facing huge claims
Buffett in the United States CNBC TV interview, said that Hathaway had three largest U.S. bond insurer Ambac, MBIA and FGIC proposed, is willing to their underwriting of municipal bonds to provide reinsurance, but does not include other complex high-risk Financial instruments.
Bond insurer's role is in bonds issued to lose the solvency of responsibility on their behalf. Since the outbreak of the crisis, loan and mortgage bonds Wei Yuelv continues to rise, bond insurers facing huge claims. The world's largest bond insurer MBIA Inc. announced that its 2007 fourth quarter in its history with the most serious single-quarter loss. Ambac, FGIC failed to keep the bond insurer crucial 3 A credit rating.
The United States and the municipal authorities usually only received the highest rating of the insurance business. With some insurers ratings decline, many municipal bond issuers choose to give up insurance. As a rating of only 3 A large reinsurers, Berkshire in helping to stabilize the highest ratings of municipal bonds, municipal bond insurance was boosted resale value is uniquely advantageous position. This professional reinsurance will also bring new areas of the capital. Over the years, bond mutual insurer has been providing reinsurance, as the bond insurer's overall loss increase, the market also secured by the value of the doubt.
Buffett disclosed that a body had rejected his proposal, he is waiting for the other two institutions answer. He said in an interview: "It seems they did not open the door to accept us." Buffett also said that he was prepared for these bonds the insurer 30 days time to find a better deal.
Real help or limited
The industry pointed out that Buffett's aid scheme seemingly timely help, but in fact, the insurers have little real meaning. Buffett is the re-insurance is limited to the major targets of insurers minimize the risk of default, the best quality assets - municipal bonds, and real hot potato - all kinds of high-risk structured finance tools (such as vouchers, and other unsecured claims ) Were excluded, there is no fundamentally solve the problems faced by insurers. At the same time, high-quality assets will be re-insurance, the remaining asset portfolio risk levels actually increase, insurers downward pressure on the ratings was not the slightest mitigation.
Paris banking transactions in U.S. interest rates Co-Head Nicholas »Beckman said that this is good news, the market breathed a sigh of relief. But I think some of the excessive market reaction, the real problem lies not in municipal bonds, but the structural financial products.
Assured Guaranty Ltd. Chief executive officer of Dominica » said that Buffett's proposal includes only the bond insurer in the municipal bond business, so Chouzou funds to the bond insurer will exceed the benefits . Assured Guaranty is a stability has been received 3 A rating of the bond insurer, to provide reinsurance to other insurers. said that if the bond insurer of municipal bond business will be transferred to the Buffett, will find that they need more funds, because by then their business will be a higher risk of over-reliance on the private debt market.
U.S. bond insurer rescue plan is expected to introduced before the rating cut
-- February 15, according to foreign media reports, the U.S. bond insurer rescue plan for new progress. According to the New York Insurance Department Director Eric Dinallo said, MBIA Inc. And Ambac Financial Group Inc. A loss of three ratings, is expected to introduced a rescue plan.
The departments concerned are trying to help the two companies was 15 billion U.S. dollars of funds, the rating was lowered to avoid the fate. And Jian Guanceng these companies will be interested in municipal bonds and secondary mortgage bond business division.
Dinallo in an interview said: "You will see the capital injection plan, or a more radical restructuring plan from now on the future, within a few months, these companies will show a different face."
Dinallo find a solution, however the short time, less than two weeks. Rating agency Moody's Investors Service said it planned to be completed by the end of the ratings of MBIA and Ambac recalled. Both the world's largest bond insurer for 1.2 trillion U.S. dollars bonds secured, and if they lose the highest level of investment grade, the United States will Lianlei thousands of schools, hospitals and local governments.
The departments concerned are trying to help the two companies was 15 billion U.S. dollars of funds, the rating was lowered to avoid the fate. And Jian Guanceng these companies will be interested in municipal bonds and secondary mortgage bond business division.
Dinallo in an interview said: "You will see the capital injection plan, or a more radical restructuring plan from now on the future, within a few months, these companies will show a different face."
Dinallo find a solution, however the short time, less than two weeks. Rating agency Moody's Investors Service said it planned to be completed by the end of the ratings of MBIA and Ambac recalled. Both the world's largest bond insurer for 1.2 trillion U.S. dollars bonds secured, and if they lose the highest level of investment grade, the United States will Lianlei thousands of schools, hospitals and local governments.
AIG into the vortex of Ciji Zhai
Although AIG in reply to clarify this message - "have not yet actual loss," but the industry believes that even if the "non-substantive impact" will be with not a small figure.
February 12, the world's largest insurance provider AIG (American International Group) auditors audit issues, and therefore the debt will be secured by the previously announced loss of 1 billion U.S. dollars, revised to 4.88 billion U.S. dollars. This covers only loss in October 2007, two in November.
Goldman Sachs analyst Thomas Keernuoji (ThomasCholnoky) in the February 13th release of the report, the fourth quarter, AIG and the debt-related assets may be diminished 10 billion U.S. dollars.
AIG loss in the amendment, the German Finance Minister PeerSteinbrück the G7 meeting of finance ministers warned on the market, the Ciji Zhai huge losses from AIG may provide bonds guaranteed by the insurance companies assume.
The insurance industry will become HPLS dimension of the crisis collapsed under more than one domino »
Audit crisis
Since March 2005 from the hands of Greenberg succession since the post of president of AIG, Martin Sullivan, 53-year-old commitment to allow AIG to become more transparent, hopes it from the time of the audit from the scandal out.
But overnight, a new audit issues Sullivan in trouble again. February 11, AIG submitted to the U.S. Securities and Exchange Commission 8 - K in the document pointed out that the external auditor of the existence of internal audit found that its "significant deficiencies."
AIG in December 2007 reassure investors, saying in October, November 2 in the CDS in the loss of only around 1 billion U.S. dollars, the loss "is still within the controllable range." But now, this has turned a loss of nearly four times.
Disclosure of information that day, AIG in the New York Stock Exchange shares were down 12 percent, to 44.74 U.S. dollars per share. This is the October 19, 1987 "Black Monday" stock market crash, the biggest one-day drop.
At the same time, Moody's, Standard & Poor's and Fitch rating agencies will be three rating to AIG's prospects, in addition, Standard & Poor's also said, "If the audit market losses for the troubled company, will also further reduce the company's rating."
May lead to loss of the product is to CDO (mortgage bonds) to provide credit protection of the CDS (CreditDefaultSwaps) contracts, also known as credit default swaps. According to the International Commercial Bank the information provided during the contract period, if not secured credit default products, customers will guarantee the payment of fixed costs to obtain the protection of default risk, relatively, once secured a credit default products, The security side, will pay for the losses caused by default.
AIG currently guaranteed by the CDO product of about 62.4 billion U.S. dollars.
The industry believes that this audit was wrong, because the initial valuation of AIG is in accordance with the standard package of CDO prices, and by tracking Ciji Zhai adjustment CDO securities index value. But when the CDO value of a loss when, AIG's loss is not correspond directly with the CDO, but the hands of the CDS with the corresponding contracts, because AIG is not directly held CDO, but secured a direct product of the swap contract .
The crux of the problem is: how for such products valuation » According to analysts, even in normal circumstances, this highly specialized financial derivatives used the frequency is not high, so their pricing more difficult and increase uncertainty in the market, the trading volume of such products will be Narrow, resulting in pricing more difficult.
Analysts believe that the AIG, the current situation may become more painful, because after AIG had to use the same standards of similar products to be evaluated.
Kyrgyzstan-US credit (GimmeCredit) analyst Kase Lin Li-shan in an analytical report said: "AIG's Greenberg will strive to audit and regulatory issues and in this cut from a big step, but recent internal control 'Major loss' has once again undermined investor confidence in it. "
AIG in response to an interview to clarify our message, said the loss has not yet actually happened, but also in the "implementation of these derivatives contracts facing the loss of AIG will not constitute a material impact", but that Li-shan, "if we consider the AIG-scale enterprises, you can imagine, 'the impact of non-real' should also be a significant figure. "
Business model has been questioned
According to the British "Financial Times" reported that Standard & Poor's analyst Catherine Xifuerte that the incident not only threaten to Sullivan's position, but also from people suspected of AIG's business model, in particular, it deviated from the mainstream of the insurance industry expansion .
But Sullivan is the greatest challenge facing from his predecessor is also a major shareholder of AIG - Maurice Greenberg.
The 82-year-old Greenberg is recognized as a Xiongcaitailue the people, he single-handedly AIG will be trained today's giant, until three years ago, an accounting scandal of the FBI was "invited" to the office. Greenberg after the outgoing CEO, with the exception of AIG companies still hold 12 percent of the voting rights stock, are still a number of insurance products in direct competition with AIG.
A few months ago, Greenberg has hinted will be forced to sell the assets of AIG, but have recently said they had no plans to sell all or most of AIG's stock, "unless the need for liquidity in investment activities."
Three years ago, when the 50-year-old Sullivan to take over AIG, the world's biggest insurance group when, AIG are receiving multiple legal investigations, AIG accounts at the time of confusion and even its auditors have refused to audit its accounts. Sullivan took office in the first 18 months, AIG has also been three major typhoons and the strong impact of the earthquake in South Asia. 2007, a loan-to-crisis and the profits of AIG an enormous impact, their 2007 third-quarter loss of 27 percent.
Sullivan has already begun discussions with the Board on whether to begin strategic transformation, if necessary, or even reduce the size of the company.
More and more investors and analysts that AIG should be developed in the sale of Greenberg era of non-insurance business, such as aircraft leasing, capital market transactions and consumer credit sectors.
JP Morgan Chase credit analyst hollow Ma Nyquist said: "Unless the loss of AIG confirmed down, otherwise the market unrest will continue."
Under more than one domino »
AIG made on the amendment before Yukui, German Finance Minister PeerSteinbrück the G7 meeting of finance ministers warned on the market, with the United States Ciji Zhai losses related to the bonds may reach 400 billion U.S. dollars, so there may be a huge loss, such as bonds from AIG Commitment to the security of insurance companies.
U.S. Mortgage Bankers Association said that currently the United States Wei Yuelv all types of housing loans had reached 7.3 percent, in the 1970s is the highest level. December 2007 loan insurance Wei Yueshuai increased by 37 percent from a year earlier. In response, the University of Pennsylvania accounting professor Edward Kezi also pointed out that there may be more behind the startling loss.
February 13, as American families unable to pay housing loans, the largest U.S. mortgage insurer MGIC fourth quarter of single-quarter loss of 1.47 billion U.S. dollars and is expected there may be further losses 3.5 billion U.S. dollars. The company has hired consultants to help finance.
Despite the substantial losses, MGIC chairman and president of still insist that the insurance industry is experiencing "the strongest I have seen the security business base."
Another large insurer CNA Financial companies also 610 million U.S. dollars of losses. The world's largest reinsurers - Swiss Re insurance group in October in two credit default swap contracts on the loss of 1.07 billion U.S. dollars. Three other major bond insurer Ambac, MBIA and FGIC also huge losses.
AMBest in reply to this message that the insurance industry in the debt crisis of the loss should not be great. As of mid-2007, the insurance industry in the debt of its investment accounted for only a total investment of around 3 percent.
And MGIC has announced to give up to provide loans for the bonds of insurance.
February 12, the world's largest insurance provider AIG (American International Group) auditors audit issues, and therefore the debt will be secured by the previously announced loss of 1 billion U.S. dollars, revised to 4.88 billion U.S. dollars. This covers only loss in October 2007, two in November.
Goldman Sachs analyst Thomas Keernuoji (ThomasCholnoky) in the February 13th release of the report, the fourth quarter, AIG and the debt-related assets may be diminished 10 billion U.S. dollars.
AIG loss in the amendment, the German Finance Minister PeerSteinbrück the G7 meeting of finance ministers warned on the market, the Ciji Zhai huge losses from AIG may provide bonds guaranteed by the insurance companies assume.
The insurance industry will become HPLS dimension of the crisis collapsed under more than one domino »
Audit crisis
Since March 2005 from the hands of Greenberg succession since the post of president of AIG, Martin Sullivan, 53-year-old commitment to allow AIG to become more transparent, hopes it from the time of the audit from the scandal out.
But overnight, a new audit issues Sullivan in trouble again. February 11, AIG submitted to the U.S. Securities and Exchange Commission 8 - K in the document pointed out that the external auditor of the existence of internal audit found that its "significant deficiencies."
AIG in December 2007 reassure investors, saying in October, November 2 in the CDS in the loss of only around 1 billion U.S. dollars, the loss "is still within the controllable range." But now, this has turned a loss of nearly four times.
Disclosure of information that day, AIG in the New York Stock Exchange shares were down 12 percent, to 44.74 U.S. dollars per share. This is the October 19, 1987 "Black Monday" stock market crash, the biggest one-day drop.
At the same time, Moody's, Standard & Poor's and Fitch rating agencies will be three rating to AIG's prospects, in addition, Standard & Poor's also said, "If the audit market losses for the troubled company, will also further reduce the company's rating."
May lead to loss of the product is to CDO (mortgage bonds) to provide credit protection of the CDS (CreditDefaultSwaps) contracts, also known as credit default swaps. According to the International Commercial Bank the information provided during the contract period, if not secured credit default products, customers will guarantee the payment of fixed costs to obtain the protection of default risk, relatively, once secured a credit default products, The security side, will pay for the losses caused by default.
AIG currently guaranteed by the CDO product of about 62.4 billion U.S. dollars.
The industry believes that this audit was wrong, because the initial valuation of AIG is in accordance with the standard package of CDO prices, and by tracking Ciji Zhai adjustment CDO securities index value. But when the CDO value of a loss when, AIG's loss is not correspond directly with the CDO, but the hands of the CDS with the corresponding contracts, because AIG is not directly held CDO, but secured a direct product of the swap contract .
The crux of the problem is: how for such products valuation » According to analysts, even in normal circumstances, this highly specialized financial derivatives used the frequency is not high, so their pricing more difficult and increase uncertainty in the market, the trading volume of such products will be Narrow, resulting in pricing more difficult.
Analysts believe that the AIG, the current situation may become more painful, because after AIG had to use the same standards of similar products to be evaluated.
Kyrgyzstan-US credit (GimmeCredit) analyst Kase Lin Li-shan in an analytical report said: "AIG's Greenberg will strive to audit and regulatory issues and in this cut from a big step, but recent internal control 'Major loss' has once again undermined investor confidence in it. "
AIG in response to an interview to clarify our message, said the loss has not yet actually happened, but also in the "implementation of these derivatives contracts facing the loss of AIG will not constitute a material impact", but that Li-shan, "if we consider the AIG-scale enterprises, you can imagine, 'the impact of non-real' should also be a significant figure. "
Business model has been questioned
According to the British "Financial Times" reported that Standard & Poor's analyst Catherine Xifuerte that the incident not only threaten to Sullivan's position, but also from people suspected of AIG's business model, in particular, it deviated from the mainstream of the insurance industry expansion .
But Sullivan is the greatest challenge facing from his predecessor is also a major shareholder of AIG - Maurice Greenberg.
The 82-year-old Greenberg is recognized as a Xiongcaitailue the people, he single-handedly AIG will be trained today's giant, until three years ago, an accounting scandal of the FBI was "invited" to the office. Greenberg after the outgoing CEO, with the exception of AIG companies still hold 12 percent of the voting rights stock, are still a number of insurance products in direct competition with AIG.
A few months ago, Greenberg has hinted will be forced to sell the assets of AIG, but have recently said they had no plans to sell all or most of AIG's stock, "unless the need for liquidity in investment activities."
Three years ago, when the 50-year-old Sullivan to take over AIG, the world's biggest insurance group when, AIG are receiving multiple legal investigations, AIG accounts at the time of confusion and even its auditors have refused to audit its accounts. Sullivan took office in the first 18 months, AIG has also been three major typhoons and the strong impact of the earthquake in South Asia. 2007, a loan-to-crisis and the profits of AIG an enormous impact, their 2007 third-quarter loss of 27 percent.
Sullivan has already begun discussions with the Board on whether to begin strategic transformation, if necessary, or even reduce the size of the company.
More and more investors and analysts that AIG should be developed in the sale of Greenberg era of non-insurance business, such as aircraft leasing, capital market transactions and consumer credit sectors.
JP Morgan Chase credit analyst hollow Ma Nyquist said: "Unless the loss of AIG confirmed down, otherwise the market unrest will continue."
Under more than one domino »
AIG made on the amendment before Yukui, German Finance Minister PeerSteinbrück the G7 meeting of finance ministers warned on the market, with the United States Ciji Zhai losses related to the bonds may reach 400 billion U.S. dollars, so there may be a huge loss, such as bonds from AIG Commitment to the security of insurance companies.
U.S. Mortgage Bankers Association said that currently the United States Wei Yuelv all types of housing loans had reached 7.3 percent, in the 1970s is the highest level. December 2007 loan insurance Wei Yueshuai increased by 37 percent from a year earlier. In response, the University of Pennsylvania accounting professor Edward Kezi also pointed out that there may be more behind the startling loss.
February 13, as American families unable to pay housing loans, the largest U.S. mortgage insurer MGIC fourth quarter of single-quarter loss of 1.47 billion U.S. dollars and is expected there may be further losses 3.5 billion U.S. dollars. The company has hired consultants to help finance.
Despite the substantial losses, MGIC chairman and president of still insist that the insurance industry is experiencing "the strongest I have seen the security business base."
Another large insurer CNA Financial companies also 610 million U.S. dollars of losses. The world's largest reinsurers - Swiss Re insurance group in October in two credit default swap contracts on the loss of 1.07 billion U.S. dollars. Three other major bond insurer Ambac, MBIA and FGIC also huge losses.
AMBest in reply to this message that the insurance industry in the debt crisis of the loss should not be great. As of mid-2007, the insurance industry in the debt of its investment accounted for only a total investment of around 3 percent.
And MGIC has announced to give up to provide loans for the bonds of insurance.
U.S. second-largest bond insurer to be divided into two
In response to the launch of the bond insurer "relegation", the second-largest U.S. bond insurer Ambac companies are separate issues to discuss with the departments concerned to ensure that its municipal bond insurance sector will not be deprived of the highest AAA credit rating.
As the crisis in the loan-to-experienced great loss, many U.S. bond insurers are worsening the situation. Many large insurance companies have been the bond rating agency lowered its ratings, including the United States the third largest bond insurer FGIC Corporation.
According to statistics, MBIA and Ambac two bonds secured bond insurance company assets reached 1.2 trillion U.S. dollars of bonds. Once the two companies lost AAA rating, the United States thousands of schools, hospitals and local government bonds issued ratings may also be affected, which will not only bring huge losses on investments, it may lead to a new round of serious credit crunch.
New York Gov. Spitzer and New York state insurance regulators, such as heavyweight Dina Luo people who last week that it is necessary to keep MBIA and Ambac, the highest rating, there are two paths to follow: First, as soon as possible for capital injection from the outside, First, the existing business into two, retaining only a better quality of the municipal bond business.
Ambac will be split means that the quality of two completely different companies, is a high-quality municipal bond underwriting the AAA-level enterprises, another is a "mess", mainly involving various kinds of serious shrinking of the market value of high-risk CDO assets.
According to reports, FGIC last Friday informed the New York state insurance regulators who Dina Luo, said it intends to be split. However, according to informed sources, the company's decision has been interested in part to the injection of the consortium's opposition, the two sides will further discuss this.
Allegedly, Ambac split the plan could come as early as this week announced. However, sources also pointed out that compared to FGIC, Ambac the split would be more complicated because no prior similar to a bond insurer into two precedent.
As the crisis in the loan-to-experienced great loss, many U.S. bond insurers are worsening the situation. Many large insurance companies have been the bond rating agency lowered its ratings, including the United States the third largest bond insurer FGIC Corporation.
According to statistics, MBIA and Ambac two bonds secured bond insurance company assets reached 1.2 trillion U.S. dollars of bonds. Once the two companies lost AAA rating, the United States thousands of schools, hospitals and local government bonds issued ratings may also be affected, which will not only bring huge losses on investments, it may lead to a new round of serious credit crunch.
New York Gov. Spitzer and New York state insurance regulators, such as heavyweight Dina Luo people who last week that it is necessary to keep MBIA and Ambac, the highest rating, there are two paths to follow: First, as soon as possible for capital injection from the outside, First, the existing business into two, retaining only a better quality of the municipal bond business.
Ambac will be split means that the quality of two completely different companies, is a high-quality municipal bond underwriting the AAA-level enterprises, another is a "mess", mainly involving various kinds of serious shrinking of the market value of high-risk CDO assets.
According to reports, FGIC last Friday informed the New York state insurance regulators who Dina Luo, said it intends to be split. However, according to informed sources, the company's decision has been interested in part to the injection of the consortium's opposition, the two sides will further discuss this.
Allegedly, Ambac split the plan could come as early as this week announced. However, sources also pointed out that compared to FGIC, Ambac the split would be more complicated because no prior similar to a bond insurer into two precedent.
The loan-to-crisis spread to the U.S. mortgage insurer compulsory preservation of government actions
While the United States and the insurance industry to do all the growing losses and face the risk of lower credit ratings, the original mortgage insurance company is not interesting in the same severe attack. With the reduction of funds on hand, these companies may be unable to meet some of underwriting requirements, thereby enabling the real estate market is down more worse.
The mortgage insurer Triad Guaranty Inc. Last week announced a 75 million U.S. dollars loss for the quarter. , In the U.S. market share of first place in MGIC Investment Corp. Also said that fourth-quarter loss of funds a total of 1.47 billion U.S. dollars.
The so-called mortgage insurer, is for those who pay less than 20% of housing property rights of the first payment, provide a "mortgage insurance", the general mortgage payment agencies hope that these loans to purchase such insurance, because once they are unable to meet repayment obligations, Insurance companies will be responsible for reimbursement of part of loans, the loan amount is usually 25% to 35%.
Now, the mortgage insurer in the U.S. housing market boom of the underwriting business is more and more to bear the burden of insurance claims. Analysts point out that the available assets of insurance companies continue to weaken, the insurer may be unable to meet demand, thereby affecting demand for consumer purchases, inhibit the housing market recovery.
Sub-loan-to-crisis environment of the problems in the mortgage insurance companies will force insurers to raise the threshold. To MGIC example, some states will no longer purchase the urban areas of the first payment Fangkuan less than 5% of the total mortgage loan borrowers to offer insurance. This allow more people to buy housing. "Insurance is raising the threshold consumers face another negative factor", housing research firm Zelman & Associates, chief executive of (Ivy Zelman) said.
Fortunately, the Federal Housing Loan Mortgage Corporation (Freddie Mac, Fannie short) last Thursday announced that preparations for the interim adjustment for private mortgage insurance companies to the relevant provisions, the goal is to retain more mortgage insurance premiums for the insurance company claims , As well as the restoration of their asset base.
Freddie said that if the mortgage insurance company's credit rating was lowered to AA grade or below the same level, it would not be in accordance with the regulations of these companies in raising capital adequacy ratio and other requirements. Freddie also provides insurance premium income in mortgage loans to so-called professional captive to transfer part of not more than 25 percent in order to leave more premium income, increased at a faster rate of capital.
Freddie and the Federal National Mortgage Association (Fannie Mae) the establishment of two government-sponsored company acquired many of the claims of mortgage loans, they rely on mortgage loans to help insurance companies to share part of their mortgage loan risks.
These mandatory mortgage insurance companies protection initiatives will help mortgage insurer faster cumulative capital and reduce the impact on consumers underwriting, thus easing the effect of the real estate market.
The mortgage insurer Triad Guaranty Inc. Last week announced a 75 million U.S. dollars loss for the quarter. , In the U.S. market share of first place in MGIC Investment Corp. Also said that fourth-quarter loss of funds a total of 1.47 billion U.S. dollars.
The so-called mortgage insurer, is for those who pay less than 20% of housing property rights of the first payment, provide a "mortgage insurance", the general mortgage payment agencies hope that these loans to purchase such insurance, because once they are unable to meet repayment obligations, Insurance companies will be responsible for reimbursement of part of loans, the loan amount is usually 25% to 35%.
Now, the mortgage insurer in the U.S. housing market boom of the underwriting business is more and more to bear the burden of insurance claims. Analysts point out that the available assets of insurance companies continue to weaken, the insurer may be unable to meet demand, thereby affecting demand for consumer purchases, inhibit the housing market recovery.
Sub-loan-to-crisis environment of the problems in the mortgage insurance companies will force insurers to raise the threshold. To MGIC example, some states will no longer purchase the urban areas of the first payment Fangkuan less than 5% of the total mortgage loan borrowers to offer insurance. This allow more people to buy housing. "Insurance is raising the threshold consumers face another negative factor", housing research firm Zelman & Associates, chief executive of (Ivy Zelman) said.
Fortunately, the Federal Housing Loan Mortgage Corporation (Freddie Mac, Fannie short) last Thursday announced that preparations for the interim adjustment for private mortgage insurance companies to the relevant provisions, the goal is to retain more mortgage insurance premiums for the insurance company claims , As well as the restoration of their asset base.
Freddie said that if the mortgage insurance company's credit rating was lowered to AA grade or below the same level, it would not be in accordance with the regulations of these companies in raising capital adequacy ratio and other requirements. Freddie also provides insurance premium income in mortgage loans to so-called professional captive to transfer part of not more than 25 percent in order to leave more premium income, increased at a faster rate of capital.
Freddie and the Federal National Mortgage Association (Fannie Mae) the establishment of two government-sponsored company acquired many of the claims of mortgage loans, they rely on mortgage loans to help insurance companies to share part of their mortgage loan risks.
These mandatory mortgage insurance companies protection initiatives will help mortgage insurer faster cumulative capital and reduce the impact on consumers underwriting, thus easing the effect of the real estate market.
Thai insurance industry to cover the southern border joint enterprise
Thai insurance industry management committee yesterday, the Secretary-General Zhanta (16) said that in view of CS Pattani province on the 15th night in the hotel bombings, will bring together the insurance industry to discuss how to help the three southern border House enterprises, more than hope that through insurance Companies underwriting approach, to reduce the risk of compensation insurance company. Since Thailand does not JING situation in the region continued, the insurance industry all the local enterprises have increased the premium.
Zhanta said that the evening of 15 in Pattani province CS hotel explosion, causing 13 people were injured two people died, and a large amount of property damage to the tragedy. Currently insurance companies are investigating the implementation of the deceased and the injured have insurance coverage or not, in accordance with the relevant requirements for compensation. CS hotel owners and to the Thai commercial insurance companies and insurance companies in Bangkok to take out insurance, the insurance is the amount of 10 million baht and 50,000 baht a year to pay the premium. However, this policy has already expired early this year. After due to local insecurity situation continues, so will the insurance company premiums increased to 270,000 baht a year, CS premiums too high and that the hotel did not continue to renewal.
Insurance Management Committee Secretary-General Zhanta said that in order to help the three southern border House enterprises tide over their difficulties, the Committee decided to convene the 18th meeting of the insurance companies to discuss how to give local enterprises in the insurance help. May take a number of insurance companies underwriting the common way for local companies to provide insurance services. At the same time can also reduce the exclusive insurance companies underwriting risk.
Zhanta said that the evening of 15 in Pattani province CS hotel explosion, causing 13 people were injured two people died, and a large amount of property damage to the tragedy. Currently insurance companies are investigating the implementation of the deceased and the injured have insurance coverage or not, in accordance with the relevant requirements for compensation. CS hotel owners and to the Thai commercial insurance companies and insurance companies in Bangkok to take out insurance, the insurance is the amount of 10 million baht and 50,000 baht a year to pay the premium. However, this policy has already expired early this year. After due to local insecurity situation continues, so will the insurance company premiums increased to 270,000 baht a year, CS premiums too high and that the hotel did not continue to renewal.
Insurance Management Committee Secretary-General Zhanta said that in order to help the three southern border House enterprises tide over their difficulties, the Committee decided to convene the 18th meeting of the insurance companies to discuss how to give local enterprises in the insurance help. May take a number of insurance companies underwriting the common way for local companies to provide insurance services. At the same time can also reduce the exclusive insurance companies underwriting risk.
Barclays to sell local life insurance business Swiss Re took over the 753 million pounds
Yesterday, Britain's third-largest banks - Barclays Bank (Barclays Plc) to agree to its British life insurance business to 753 million pounds sold to Swiss Re (Swiss Re-insurance Company).
Swiss Re ( "Swiss Re") said yesterday's announcement, the company will buy about 760,000 of life insurance policy and pension insurance contracts, which is equivalent to about 6.8 billion pounds of assets investment. Collins Stewart analyst estimates, Barclays Bank life insurance business in the valuation of about 750 million to 1 billion pounds between.
Analysts said that Barclays Bank is financing this time in order to expand its overseas investment operations, particularly in the consumer banking business in Asia and the United States securities trading and wealth management business. Barclays to sell assets to improve its capital adequacy ratio, the bank's capital adequacy ratio of credit losses resulted in 6.4 billion after the write-down of assets has deteriorated. Barclays last month also approved the sale of shares to raise about 4.5 billion pounds of funds.
Swiss Re Chief Financial Officer Chris Lucas said in a statement, Barclays Bank's life insurance business is attractive despite the high quality business, but not the core business of Barclays. Through the sale of the business, Barclays will be in the net profit of 330 million pounds, the deal will be completed on October 31.
As the world's largest reinsurance companies, Swiss Re is working to break through its life insurance and health insurance business on the bottleneck, in response to the slow rise in premium income, and credit loss due to the expanded write-down of assets. Through its Admin Re sector, the company has acquired more than 50 institutions of policy, its balance sheet into at least 75 billion Swiss francs of assets.
Swiss Re ( "Swiss Re") said yesterday's announcement, the company will buy about 760,000 of life insurance policy and pension insurance contracts, which is equivalent to about 6.8 billion pounds of assets investment. Collins Stewart analyst estimates, Barclays Bank life insurance business in the valuation of about 750 million to 1 billion pounds between.
Analysts said that Barclays Bank is financing this time in order to expand its overseas investment operations, particularly in the consumer banking business in Asia and the United States securities trading and wealth management business. Barclays to sell assets to improve its capital adequacy ratio, the bank's capital adequacy ratio of credit losses resulted in 6.4 billion after the write-down of assets has deteriorated. Barclays last month also approved the sale of shares to raise about 4.5 billion pounds of funds.
Swiss Re Chief Financial Officer Chris Lucas said in a statement, Barclays Bank's life insurance business is attractive despite the high quality business, but not the core business of Barclays. Through the sale of the business, Barclays will be in the net profit of 330 million pounds, the deal will be completed on October 31.
As the world's largest reinsurance companies, Swiss Re is working to break through its life insurance and health insurance business on the bottleneck, in response to the slow rise in premium income, and credit loss due to the expanded write-down of assets. Through its Admin Re sector, the company has acquired more than 50 institutions of policy, its balance sheet into at least 75 billion Swiss francs of assets.
Swiss Re second-quarter profit halved
Yesterday, the world's largest reinsurer Swiss Re's announcement of that second-quarter 2008 net income will reach about 600 million Swiss francs. This data is far below the same period last year 11.9 billion Swiss francs, down about 50 percent.
According to Notice, Switzerland again in the second quarter did not achieve the non-existence of the structural business credit default swaps transactions loss products should be adjusted according to market prices for 362 million Swiss francs (about 345 million U.S. dollars), making corporate profits declined. Rui again that, although the business of the non-existence, Swiss Re is still subject to market fluctuations in the value of the impact of the product, it is estimated that in July 2008 the non-existence of the structural business credit default swaps transactions loss products should be adjusted according to market prices 163 million Swiss francs.
"The rate of decline in investment income was mainly due to hedging by the Group of the negative impact of the project. These projects contribute to the protection of the investment portfolio to withstand risks, but in a relatively short period of Swiss Re will increase investment yield in the accounting sense of the volatility." Swiss Re insurance related to this that in order to be in premiums and investment income were lower circumstances boost revenue, the company will also buy 753 million pounds to Barclays life insurance sector.
According to Notice, Switzerland again in the second quarter did not achieve the non-existence of the structural business credit default swaps transactions loss products should be adjusted according to market prices for 362 million Swiss francs (about 345 million U.S. dollars), making corporate profits declined. Rui again that, although the business of the non-existence, Swiss Re is still subject to market fluctuations in the value of the impact of the product, it is estimated that in July 2008 the non-existence of the structural business credit default swaps transactions loss products should be adjusted according to market prices 163 million Swiss francs.
"The rate of decline in investment income was mainly due to hedging by the Group of the negative impact of the project. These projects contribute to the protection of the investment portfolio to withstand risks, but in a relatively short period of Swiss Re will increase investment yield in the accounting sense of the volatility." Swiss Re insurance related to this that in order to be in premiums and investment income were lower circumstances boost revenue, the company will also buy 753 million pounds to Barclays life insurance sector.
300 billion U.S. government pushed the mortgage insurer salvation reshuffle imminent
Who are the survivors of the loan-to-crisis »
"Mortgage insurance is the only beacon of the financial sector. This industry so far has not been a major bankruptcy, has not encountered does not work, the crisis of debts, with any investment banks, commercial banks, even the two are compared Is the best. "August 2, the U.S. mortgage insurance companies RMIC, chief economist at Tong Zhong Yi, told reporters.
With the July 30, President of the United States formally signed in 2008 housing and economic recovery bill (the Housing and Economic Recovery Act of
2008, the mortgage insurer to further strengthen the role. However, the Government's hand only to save the market, virtually the United States also promoted the mortgage insurer's reshuffle. 300000000000 "government guaranteed"
Founded in 1932 the federal residential Authority (FHA), will lead the resumption of play from the Bills in the "rescue" role.
FHA mortgage insurance is to provide the U.S. government organizations. Equally active in the mortgage insurance market, there are seven other furniture agencies, including the market ranked first in MGIC (NYSE: MTG), PMI Group
Inc. (PMI), Republic Mortgage Insurance Company (RMIC), Radian Group
Inc. (RDN), American International Group (AIG)'s mortgage insurance subsidiary of AIG United Guaranty, Genworth Financial, Old
Republic International (ORI), and Triad Guaranty Inc. (Nasdaq: TGIC).
Mainly led by mortgage insurer paid less than 20 percent of the buyers to provide guarantees that once a breach of these buyers, they will be responsible for payment for their loans to repay part of lending institutions.
"But in the housing market during the peak period, many Wall Street investment banks and a number of mercenary financial companies to bypass the" two-room ", the development of the sub-loan products and securities products, and stimulate this market to flourish. Before 2002, the loan-to-products in all housing mortgage loans in no more than 4 percent, but in 2006 this proportion reached 16 percent of the opera. "Tong Zhong Yi explained.
This is too liberal in the mode of payment loans, loan-to-grave crisis was a lesson.
Wei Yuelv housing loans and housing confiscation of the rate of increase further blow to the housing needs of the market. U.S. mortgage insurer Association (MICA) the latest data show that by the end of June, the U.S. market collateral loss of the right to redeem the mortgage loan volume has been as high as 252,000, than the same period last year increased by 53 per cent of the outstanding loans reached 67,967 in May T, surged 48 percent year-on-year.
In this context, the resumption of the Bill is not a huge amount of funding for FHA, is to strengthen its representative of the industry's position and role.
The bill just signed the restoration of that funding will be 300 billion U.S. dollars in the FHA under the management of the establishment of special funds, to a total of about 400,000 applications for 30-year fixed-rate mortgage the property to provide security, to improve its credit, to protect them Access to financing, thereby avoiding the ultimate breach occurred.
"We hope that through the FHA, to ensure that more worthy of ownership of U.S. households own homes hold their own property." White House spokesman Tony Fratto (Tony Fratto) in the Bills signed the same day issued a statement.
Conservatives against radical » Can not escape is that the mortgage insurers are facing more and more insurance claims.
The industry, the loan-to-climax, the U.S. mortgage market of about 20 percent to 30 percent of the market have been filled with secondary mortgage loans, when high-quality mortgage resources have been emptied after the snatch, the mortgage insurer will also be extended to the war in the loan-to-market.
Last qualifying mortgage insurer Triad Guaranty underwriting a lot of the secondary mortgage loan business; another positive performance of the mortgage insurer Radian
Group, for the loan guarantees, insurance share of the total assets of 10% to 15%, the highest even reached nearly 20 percent. The two companies have been because of the housing market boom radical underwriting business later suffered from.
By the end of June, Triad
Guaranty because of insufficient capital reserves, announced to stop selling new policies, the policy has only to pay the claims until all the policies expire. "Can not be said that it will go bankrupt, it has the ability to maintain existing business, but because there is no sufficient capital, unable to launch a new business. Now can do, only better to wait for opportunities, and other markets resume." Tong said.
By contrast, Radian
Group because of the larger, more adequate funds owned, is also accepted a new business, but the industry is worried that if prices continue to fall, the company will face the situation of inadequate capital reserves. In early July, Radian
Group appointed a new president of the mortgage insurance sector, by trying to reshape it the confidence of investors. This relative, conservative style of the mortgage insurer is to greatly enhance its market position.
To RMIC example, the asset ranked sixth, a mortgage insurer's profit margin to the crisis. "Unlike some companies a greater risk of mortgage insurance, our more conservative in this regard, the credit rating, from the current 6 rose to third place." Tong Zhong Yi said.
But on the other hand, the mortgage insurer underwriting more cautious attitude, in effect an increase of the housing market recovery more difficult.
Mortgage insurer to take two major initiatives, the first is to increase the credibility of scores of the requirements of the group itself should not get loans, the situation is very serious breach of the buyers excluded; Secondly, the decline in housing prices the hardest hit different Down payment requirements, the mortgage insurers now require at least 10 percent of the down payment, even in some areas will reach 15 percent, but in the past, perhaps only request is usually 3-5 percent of the down payment.
"These moves must be recognized will be an obstacle to home buyers, but the premise is that we want to keep the healthy development of industry, this is the price we must pay. This is the housing market adversely on the one hand, but if the mortgage insurance industry There are problems, take greater risks, the city will resume more slowly. "A senior U.S. housing market source said.
"Mortgage insurance is the only beacon of the financial sector. This industry so far has not been a major bankruptcy, has not encountered does not work, the crisis of debts, with any investment banks, commercial banks, even the two are compared Is the best. "August 2, the U.S. mortgage insurance companies RMIC, chief economist at Tong Zhong Yi, told reporters.
With the July 30, President of the United States formally signed in 2008 housing and economic recovery bill (the Housing and Economic Recovery Act of
2008, the mortgage insurer to further strengthen the role. However, the Government's hand only to save the market, virtually the United States also promoted the mortgage insurer's reshuffle. 300000000000 "government guaranteed"
Founded in 1932 the federal residential Authority (FHA), will lead the resumption of play from the Bills in the "rescue" role.
FHA mortgage insurance is to provide the U.S. government organizations. Equally active in the mortgage insurance market, there are seven other furniture agencies, including the market ranked first in MGIC (NYSE: MTG), PMI Group
Inc. (PMI), Republic Mortgage Insurance Company (RMIC), Radian Group
Inc. (RDN), American International Group (AIG)'s mortgage insurance subsidiary of AIG United Guaranty, Genworth Financial, Old
Republic International (ORI), and Triad Guaranty Inc. (Nasdaq: TGIC).
Mainly led by mortgage insurer paid less than 20 percent of the buyers to provide guarantees that once a breach of these buyers, they will be responsible for payment for their loans to repay part of lending institutions.
"But in the housing market during the peak period, many Wall Street investment banks and a number of mercenary financial companies to bypass the" two-room ", the development of the sub-loan products and securities products, and stimulate this market to flourish. Before 2002, the loan-to-products in all housing mortgage loans in no more than 4 percent, but in 2006 this proportion reached 16 percent of the opera. "Tong Zhong Yi explained.
This is too liberal in the mode of payment loans, loan-to-grave crisis was a lesson.
Wei Yuelv housing loans and housing confiscation of the rate of increase further blow to the housing needs of the market. U.S. mortgage insurer Association (MICA) the latest data show that by the end of June, the U.S. market collateral loss of the right to redeem the mortgage loan volume has been as high as 252,000, than the same period last year increased by 53 per cent of the outstanding loans reached 67,967 in May T, surged 48 percent year-on-year.
In this context, the resumption of the Bill is not a huge amount of funding for FHA, is to strengthen its representative of the industry's position and role.
The bill just signed the restoration of that funding will be 300 billion U.S. dollars in the FHA under the management of the establishment of special funds, to a total of about 400,000 applications for 30-year fixed-rate mortgage the property to provide security, to improve its credit, to protect them Access to financing, thereby avoiding the ultimate breach occurred.
"We hope that through the FHA, to ensure that more worthy of ownership of U.S. households own homes hold their own property." White House spokesman Tony Fratto (Tony Fratto) in the Bills signed the same day issued a statement.
Conservatives against radical » Can not escape is that the mortgage insurers are facing more and more insurance claims.
The industry, the loan-to-climax, the U.S. mortgage market of about 20 percent to 30 percent of the market have been filled with secondary mortgage loans, when high-quality mortgage resources have been emptied after the snatch, the mortgage insurer will also be extended to the war in the loan-to-market.
Last qualifying mortgage insurer Triad Guaranty underwriting a lot of the secondary mortgage loan business; another positive performance of the mortgage insurer Radian
Group, for the loan guarantees, insurance share of the total assets of 10% to 15%, the highest even reached nearly 20 percent. The two companies have been because of the housing market boom radical underwriting business later suffered from.
By the end of June, Triad
Guaranty because of insufficient capital reserves, announced to stop selling new policies, the policy has only to pay the claims until all the policies expire. "Can not be said that it will go bankrupt, it has the ability to maintain existing business, but because there is no sufficient capital, unable to launch a new business. Now can do, only better to wait for opportunities, and other markets resume." Tong said.
By contrast, Radian
Group because of the larger, more adequate funds owned, is also accepted a new business, but the industry is worried that if prices continue to fall, the company will face the situation of inadequate capital reserves. In early July, Radian
Group appointed a new president of the mortgage insurance sector, by trying to reshape it the confidence of investors. This relative, conservative style of the mortgage insurer is to greatly enhance its market position.
To RMIC example, the asset ranked sixth, a mortgage insurer's profit margin to the crisis. "Unlike some companies a greater risk of mortgage insurance, our more conservative in this regard, the credit rating, from the current 6 rose to third place." Tong Zhong Yi said.
But on the other hand, the mortgage insurer underwriting more cautious attitude, in effect an increase of the housing market recovery more difficult.
Mortgage insurer to take two major initiatives, the first is to increase the credibility of scores of the requirements of the group itself should not get loans, the situation is very serious breach of the buyers excluded; Secondly, the decline in housing prices the hardest hit different Down payment requirements, the mortgage insurers now require at least 10 percent of the down payment, even in some areas will reach 15 percent, but in the past, perhaps only request is usually 3-5 percent of the down payment.
"These moves must be recognized will be an obstacle to home buyers, but the premise is that we want to keep the healthy development of industry, this is the price we must pay. This is the housing market adversely on the one hand, but if the mortgage insurance industry There are problems, take greater risks, the city will resume more slowly. "A senior U.S. housing market source said.
2 Aug 2008
Life insurance premiums and the livelihood of both the total assets of over 10 billion yuan
January to June, people's livelihood Life achieve sustained, rapid and healthy development, the size of the premium income reached 3.66 billion yuan, an increase of 215.3 percent. As at the end of June 2008, the people's livelihood Life cumulative total premium, the total assets of 10 billion yuan has broken.
Statistics show that of the 1-June, the people's livelihood Life insurance premium income has grown rapidly, the business channel showed good development momentum. One new single-standard personal business premiums of 496 million yuan, up 87.6 percent; bank insurance premium income of 2.567 billion yuan, up 464.3 percent; intermediary business for many years has been to the advantage of the first half of the insurance premium income grew 151.1 percent , Ranking third in the life insurance market, in the company ranked first in the people's livelihood Life sales channels, innovative projects - Liaison Office agents, not in the first half performance Fei, 19 companies in 11 companies that achieve Profit, six companies to achieve cumulative earnings.
It is understood that the people's livelihood Life in the rapid development of the scale of business at the same time, always put the quality of business management into the first, to speed with structure, quality, and efficiency of unity, enhance the capacity for sustainable development. Since the opening, the people's livelihood Life continually optimize the business structure, vigorously develop a high intrinsic value of deliverables. Phase pay premiums proportion of the total premiums in the industry higher level at the same time, to 13 months as companies continue to rate the development of life indicators, business continued to improve quality. Data showed that 1-June, a dangerous 13-month rate has risen to continue to 80.44 percent, to 25-month rate reached 94.26 percent, effective guarantee of the value of the company's continued growth in the first half of the renewal premium income of 479 million yuan.
With the expansion of the scale of the company, Life of the people's livelihood risk management and internal controls in an important position to ensure that the company sustainable development. Faced with this situation in the first half of the capital market, corporate investment team adhere to the fixed-income assets based, supplemented by asset class interests of the investment strategy, and continuously adjust and optimize the investment structure and asset allocation, effective control of investment risk, and ensure the company's assets Security and preserve and increase the value at the same time, people's livelihood Life continued to strengthen internal audit and supervision and risk control, improve the internal control system, improve risk prevention awareness. At present the people's livelihood Life solvency adequacy ratio far exceeds regulatory requirements of the class Ⅱ company 150 percent of minimum standards for the health of the company's future growth and ward off risks provides a strong guarantee.
Statistics show that of the 1-June, the people's livelihood Life insurance premium income has grown rapidly, the business channel showed good development momentum. One new single-standard personal business premiums of 496 million yuan, up 87.6 percent; bank insurance premium income of 2.567 billion yuan, up 464.3 percent; intermediary business for many years has been to the advantage of the first half of the insurance premium income grew 151.1 percent , Ranking third in the life insurance market, in the company ranked first in the people's livelihood Life sales channels, innovative projects - Liaison Office agents, not in the first half performance Fei, 19 companies in 11 companies that achieve Profit, six companies to achieve cumulative earnings.
It is understood that the people's livelihood Life in the rapid development of the scale of business at the same time, always put the quality of business management into the first, to speed with structure, quality, and efficiency of unity, enhance the capacity for sustainable development. Since the opening, the people's livelihood Life continually optimize the business structure, vigorously develop a high intrinsic value of deliverables. Phase pay premiums proportion of the total premiums in the industry higher level at the same time, to 13 months as companies continue to rate the development of life indicators, business continued to improve quality. Data showed that 1-June, a dangerous 13-month rate has risen to continue to 80.44 percent, to 25-month rate reached 94.26 percent, effective guarantee of the value of the company's continued growth in the first half of the renewal premium income of 479 million yuan.
With the expansion of the scale of the company, Life of the people's livelihood risk management and internal controls in an important position to ensure that the company sustainable development. Faced with this situation in the first half of the capital market, corporate investment team adhere to the fixed-income assets based, supplemented by asset class interests of the investment strategy, and continuously adjust and optimize the investment structure and asset allocation, effective control of investment risk, and ensure the company's assets Security and preserve and increase the value at the same time, people's livelihood Life continued to strengthen internal audit and supervision and risk control, improve the internal control system, improve risk prevention awareness. At present the people's livelihood Life solvency adequacy ratio far exceeds regulatory requirements of the class Ⅱ company 150 percent of minimum standards for the health of the company's future growth and ward off risks provides a strong guarantee.
Tianjin Ren-Olympic torch presented to the Personal Accident Insurance
Tianjin Olympic torch run in the spirit, run more , they do not have any worries. Yesterday, reporters from the People's Insurance Property Insurance Tianjin Branch was informed that the Olympic torch relay in the city, Tianjin Ren Bao presented the torch to the personal accident insurance.
Tianjin Ren Bao at the same time launched the "Beijing 2008 Olympic torch relay in Tianjin insurance services division programme", opened up insurance claims services green channel, designated claims vehicles throughout the guardian of the Olympic torch pass, 65 equipped with advanced equipment for protection from personal cars and Insurance, medical expert team of professionals 24-hour standby to ensure that the Olympic torch relay insurance services work perfect, foolproof. As of yesterday, PICC Property Insurance Tianjin Branch to Tianjin Austrian foot-Office presented the cumulative amount of 1.3986 billion Group Personal Accident Insurance for the torch, for runners, volunteers and staff to provide a total of 666 insurance Protection of the insured amount for each person reached 210,000 yuan.
Tianjin Ren Bao at the same time launched the "Beijing 2008 Olympic torch relay in Tianjin insurance services division programme", opened up insurance claims services green channel, designated claims vehicles throughout the guardian of the Olympic torch pass, 65 equipped with advanced equipment for protection from personal cars and Insurance, medical expert team of professionals 24-hour standby to ensure that the Olympic torch relay insurance services work perfect, foolproof. As of yesterday, PICC Property Insurance Tianjin Branch to Tianjin Austrian foot-Office presented the cumulative amount of 1.3986 billion Group Personal Accident Insurance for the torch, for runners, volunteers and staff to provide a total of 666 insurance Protection of the insured amount for each person reached 210,000 yuan.
Minsheng Life Insurance Life "indicators" continue to rise
Life completed the first half of the people's livelihood personal renewal premiums 398 million yuan, a total of 13 months insurance rates continue to 80.44 percent, to 25-month cumulative rate of 94.26 percent, the two companies to promote continued growth in the value of "life indicators", in Domestic life insurance market advanced ranks.
For continuing to enhance the policy rate, people's livelihood Life at the same time continued to vigorously promote the standardization of services, strengthen the standardization of building to the main line added to the Basic Law, through training, regular meetings, promote competition, including the team continued to strengthen the sense of service, codes of conduct and quality Management of the examination.
For continuing to enhance the policy rate, people's livelihood Life at the same time continued to vigorously promote the standardization of services, strengthen the standardization of building to the main line added to the Basic Law, through training, regular meetings, promote competition, including the team continued to strengthen the sense of service, codes of conduct and quality Management of the examination.
Sunshine allowed to join the Nuclear Insurance Community
July 25, the China Nuclear Insurance Community mid-2008 will be held in Beijing. The General Assembly, the Council and members agreed unanimously adopted a unit of sunshine and joined the Nuclear Insurance Property Insurance Community of the resolution, sunlight General Insurance, will become the only one allowed to join the "nuclear ECOWAS," the insurance company. Joined the "nuclear ECOWAS," the solvency of insurance companies are profitable and have very strict requirements of the Sunshine Property Insurance operating data by the Council and the member units of a high degree of recognition. Joined the "nuclear ECOWAS," the Sunshine Property Insurance will be able to participate in domestic and international markets-a total of the nuclear business.
Pacific Insurance H-shares listed cash in case of bottlenecks Carlyle plans tardy
July 24, from the China Pacific Insurance Company ( "China Taibao, 601601. SH) commitment to the Hong Kong-listed deadline only 50 days. Taibao Dongmi on China to Chen Wei," Financial Times " Confirmed that the board has stopped this year, the pace of IPO in Hong Kong.
Taibao China listed in Hong Kong can not be on schedule, the United States for foreign investors Carlyle Group (The Carlyle Group, hereinafter referred to as "Carlyle"), means that the A shares will be converted to cash in H-shares the dream of strategic investment income or Shattered.
Fatal commitment
Taibao the end of last year China issued A shares, the senior had promised in the first quarter of this year, on September 14 will go to Taibao listed on the Stock Exchange of Hong Kong, issued no more than 900 million H shares. Subsequently, the H-share IPO plan approved by the China Securities Regulatory Commission.
But on July 23, a Chinese Taibao H-share IPO underwriting team sources, "Taibao IPO in Hong Kong early in the preparatory work to a halt."
"Taibao H-share price as the success of the roadshow constraints, before the 'commitment' issue has become the highest bid rate of constraints." Orient Securities analyst Wang Xiaogang analysis.
With this year to A, H-share market's overall weakness, Taibao landing A-shares at the issue price of 30 yuan, not enough time to perform its stock price upsurge on the market to follow all the way down, and March 26 fell below the issue price.
Taibao according to the Chinese A-shares in the IPO "H shares will be issued at not less than A-share issue price," promised to consider A, H shares between the Zhejia Shuai, its H-shares should be the minimum issue price of 33 Hong Kong dollar / Unit Above.
"However Taibao China A-share stock price of around 20 yuan, to enable investors to see its Doomsday in the hope that Hong Kong before landing." Wang Xiaogang said frankly.
Behind-the-scenes promoter
According to Chinese Taibao 2007 annual report, as at the end of 2007, Taibao Taibao life-insurance and the solvency adequacy ratio was 219 percent and 277 percent.
Data show that China-the current solvency and capital adequacy ratios are relatively abundant, there is no urgent financing needs.
China Taibao why the A and H market remains in the doldrums for the case of H-shares listed for efforts »
A subscription Taibao A shares of brokerage firms are exposed: Taibao eager to let China listed in Hong Kong behind the promoter of its foreign investors Carlyle.
Taibao-up A-share prospectus, it is not difficult to find, Taibao commitment to safeguard the interests of investors in A shares, H shares listed in the premium when issued.
"Now Looking back, Taibao referred to as the A-share investors, in fact, the most important thing is to protect the interests of Carlyle, as specifically mentioned in the prospectus, H shares issued upon completion, held by foreign investors A shares will receive regulatory approval later converted into H shares. "Guotai Junan insurance industry analyst Yu-Long Peng respect," Once Taibao successful landing of H-shares, it is foreseeable, Carlyle will hold its A-shares converted to all H-shares, in order to achieve Quanshenertui. Therefore, the H shares listed stranded Taibao, Carlyle will be the biggest 'victims'. "
Thinking dashed
In fact, in Taibao to stop the preparations for the IPO in Hong Kong before, Carlyle has been successful in landing for the Taibao Hong Kong stocks "positive" in trouble.
"This year in March, the Carlyle in Hong Kong frequently call on the investor side, we were met only four times, Carlyle constantly Taibao landing for the H-shares do homework." Hong Kong's Tai Fook Securities, a director General manager said.
Peking University School of Economics, Risk Management and Insurance, an associate professor of ZHU Nan-military analysis, "Carlyle and the other two do not have outside investors, mainly financial investors or the identity of fact, the Carlyle Taibao China shares the cost is not high, Rough calculation investment cost about 50,000 yuan / share, even if China Taibao stock still all the way down, Carlyle will continue to benefit from it. "
"Carlyle to Taibao held by the Chinese A-share cash, must be in four years after the ban period, but no limit on H-shares, which is why the rush to Carlyle A shares held by Taibao replaced by the H-shares The main reason, and the replacement is a prerequisite for Taibao to H shares listed. "ZHU Nan-Army stressed," For Carlyle, two years later from Taibao, it may have its rate of return on investment will be reduced.
China's high-level board Taibao to the "Financial Times" revealed that the company did not completely abandon the planned listing in Hong Kong, once the resumption of H shares issued, Taibao or will consider adjusting the "H Unit issue price of not less than A-share issue Price "This commitment to landing the Hong Kong market as soon as possible.
But the "September 14" Doomsday ago, the Taibao H-shares listed on the possibility of almost zero, Carlyle cash in the wishful thinking come to nothing.
In a financial institution to introduce foreign investors were questioning the present, the Chinese Taibao the introduction of pure profit for the purpose of Carlyle as its strategic investors, as well as talks between the two countries, China Taibao made many commitments, the present situation are worth Reflection.
Background
Taibao Carlyle and the difficult foreign-related marriage
Summer 2002, Carlyle began with Taibao life insurance contacts. Taibao Jin Hong, general manager of the life insurance open to tell Carlyle, life insurance Taibao the purpose of introducing strategic investors, first, want capital injection to fill the Licha Sun formed by the solvency gap and the second is to improve the corporate governance structure, to the international Of the side.
Carlyle Taibao life insurance due diligence on the survey results show that the problem left by history Lici Sun Life Insurance Taibao indeed lead to capital is weak, the funding gap larger macroeconomic situation and the impact of increasing competition in industry is an indisputable fact.
The end of 2003, the two sides on the direction of joint ventures, management intervention, and other aspects of the initial memorandum of understanding reached, but there are still many details of their differences.
On the one hand, established in 1991 in Taibao not always profitable life insurance, life insurance Taibao Carlyle insists that the contingent liabilities of the bad debts, lowering the net asset value per share, a dispute with Taibao. On the other hand, Taibao Group's overall preparations for the listing of the nearly completed, and Carlyle is even more of its preferred shares of Taibao life in a few years after the separate listing.
June 2003, the two sides initialed the participation agreement, but was Taibao major shareholder of Shanghai Baosteel Group's veto, so that after all the contradictions from intensifying.
According to the agreement, Carlyle will buy 400 million U.S. dollars Taibao Life 24.975 percent stake in Carlyle injection at the same time, Taibao also Taibao Life to the capital injection, with the amount of 400 million U.S. dollars equivalent in RMB. However, the final agreement with the difference lies in the fact that Carlyle is not as if the end result of a one-time investment, but three-step plan to inject capital, in advance only 65 per cent, if the performance standards fail, the remaining 35 per cent of the investment cancellation.
To the beginning of 2005, Carlyle and Taibao After twists and turns, each concession: the price, the Board agreed that the Carlyle Taibao five yuan / Unit of the "ultra low", shown at the same time, life insurance companies intent Carlyle also be a one-time injection Funding.
Carlyle Yang Xiangdong, Managing Director of Asia that the negotiations ultimately the key to success lies in Taibao Carlyle to the Board of Trustees believe that the life insurance company's future profitability is the common interest. At the same time, the end of 2005 coincides with the China Insurance Regulatory Commission to improve the life insurance solvency requirements Taibao the deadline, Taibao This is also an important factor in the decision.
2005 Carlyle signed an agreement with Taibao, the first time, China's largest private equity investment end.
Taibao recalled Carlyle and the negotiations were plagued with setbacks, it is not difficult to find, this case reflects the focus of foreign investors in China's financial industry in various aspirations and concerns, and the two sides for the value of the company, a joint venture prospects for the understanding of differences.
As a purely commercial negotiations, Carlyle and Taibao the marriage shows that no government capital injection in the case of reorganization, China's financial enterprises to obtain foreign favor, even if the financial investor input, we need to pay great efforts and Concessions.
Taibao China listed in Hong Kong can not be on schedule, the United States for foreign investors Carlyle Group (The Carlyle Group, hereinafter referred to as "Carlyle"), means that the A shares will be converted to cash in H-shares the dream of strategic investment income or Shattered.
Fatal commitment
Taibao the end of last year China issued A shares, the senior had promised in the first quarter of this year, on September 14 will go to Taibao listed on the Stock Exchange of Hong Kong, issued no more than 900 million H shares. Subsequently, the H-share IPO plan approved by the China Securities Regulatory Commission.
But on July 23, a Chinese Taibao H-share IPO underwriting team sources, "Taibao IPO in Hong Kong early in the preparatory work to a halt."
"Taibao H-share price as the success of the roadshow constraints, before the 'commitment' issue has become the highest bid rate of constraints." Orient Securities analyst Wang Xiaogang analysis.
With this year to A, H-share market's overall weakness, Taibao landing A-shares at the issue price of 30 yuan, not enough time to perform its stock price upsurge on the market to follow all the way down, and March 26 fell below the issue price.
Taibao according to the Chinese A-shares in the IPO "H shares will be issued at not less than A-share issue price," promised to consider A, H shares between the Zhejia Shuai, its H-shares should be the minimum issue price of 33 Hong Kong dollar / Unit Above.
"However Taibao China A-share stock price of around 20 yuan, to enable investors to see its Doomsday in the hope that Hong Kong before landing." Wang Xiaogang said frankly.
Behind-the-scenes promoter
According to Chinese Taibao 2007 annual report, as at the end of 2007, Taibao Taibao life-insurance and the solvency adequacy ratio was 219 percent and 277 percent.
Data show that China-the current solvency and capital adequacy ratios are relatively abundant, there is no urgent financing needs.
China Taibao why the A and H market remains in the doldrums for the case of H-shares listed for efforts »
A subscription Taibao A shares of brokerage firms are exposed: Taibao eager to let China listed in Hong Kong behind the promoter of its foreign investors Carlyle.
Taibao-up A-share prospectus, it is not difficult to find, Taibao commitment to safeguard the interests of investors in A shares, H shares listed in the premium when issued.
"Now Looking back, Taibao referred to as the A-share investors, in fact, the most important thing is to protect the interests of Carlyle, as specifically mentioned in the prospectus, H shares issued upon completion, held by foreign investors A shares will receive regulatory approval later converted into H shares. "Guotai Junan insurance industry analyst Yu-Long Peng respect," Once Taibao successful landing of H-shares, it is foreseeable, Carlyle will hold its A-shares converted to all H-shares, in order to achieve Quanshenertui. Therefore, the H shares listed stranded Taibao, Carlyle will be the biggest 'victims'. "
Thinking dashed
In fact, in Taibao to stop the preparations for the IPO in Hong Kong before, Carlyle has been successful in landing for the Taibao Hong Kong stocks "positive" in trouble.
"This year in March, the Carlyle in Hong Kong frequently call on the investor side, we were met only four times, Carlyle constantly Taibao landing for the H-shares do homework." Hong Kong's Tai Fook Securities, a director General manager said.
Peking University School of Economics, Risk Management and Insurance, an associate professor of ZHU Nan-military analysis, "Carlyle and the other two do not have outside investors, mainly financial investors or the identity of fact, the Carlyle Taibao China shares the cost is not high, Rough calculation investment cost about 50,000 yuan / share, even if China Taibao stock still all the way down, Carlyle will continue to benefit from it. "
"Carlyle to Taibao held by the Chinese A-share cash, must be in four years after the ban period, but no limit on H-shares, which is why the rush to Carlyle A shares held by Taibao replaced by the H-shares The main reason, and the replacement is a prerequisite for Taibao to H shares listed. "ZHU Nan-Army stressed," For Carlyle, two years later from Taibao, it may have its rate of return on investment will be reduced.
China's high-level board Taibao to the "Financial Times" revealed that the company did not completely abandon the planned listing in Hong Kong, once the resumption of H shares issued, Taibao or will consider adjusting the "H Unit issue price of not less than A-share issue Price "This commitment to landing the Hong Kong market as soon as possible.
But the "September 14" Doomsday ago, the Taibao H-shares listed on the possibility of almost zero, Carlyle cash in the wishful thinking come to nothing.
In a financial institution to introduce foreign investors were questioning the present, the Chinese Taibao the introduction of pure profit for the purpose of Carlyle as its strategic investors, as well as talks between the two countries, China Taibao made many commitments, the present situation are worth Reflection.
Background
Taibao Carlyle and the difficult foreign-related marriage
Summer 2002, Carlyle began with Taibao life insurance contacts. Taibao Jin Hong, general manager of the life insurance open to tell Carlyle, life insurance Taibao the purpose of introducing strategic investors, first, want capital injection to fill the Licha Sun formed by the solvency gap and the second is to improve the corporate governance structure, to the international Of the side.
Carlyle Taibao life insurance due diligence on the survey results show that the problem left by history Lici Sun Life Insurance Taibao indeed lead to capital is weak, the funding gap larger macroeconomic situation and the impact of increasing competition in industry is an indisputable fact.
The end of 2003, the two sides on the direction of joint ventures, management intervention, and other aspects of the initial memorandum of understanding reached, but there are still many details of their differences.
On the one hand, established in 1991 in Taibao not always profitable life insurance, life insurance Taibao Carlyle insists that the contingent liabilities of the bad debts, lowering the net asset value per share, a dispute with Taibao. On the other hand, Taibao Group's overall preparations for the listing of the nearly completed, and Carlyle is even more of its preferred shares of Taibao life in a few years after the separate listing.
June 2003, the two sides initialed the participation agreement, but was Taibao major shareholder of Shanghai Baosteel Group's veto, so that after all the contradictions from intensifying.
According to the agreement, Carlyle will buy 400 million U.S. dollars Taibao Life 24.975 percent stake in Carlyle injection at the same time, Taibao also Taibao Life to the capital injection, with the amount of 400 million U.S. dollars equivalent in RMB. However, the final agreement with the difference lies in the fact that Carlyle is not as if the end result of a one-time investment, but three-step plan to inject capital, in advance only 65 per cent, if the performance standards fail, the remaining 35 per cent of the investment cancellation.
To the beginning of 2005, Carlyle and Taibao After twists and turns, each concession: the price, the Board agreed that the Carlyle Taibao five yuan / Unit of the "ultra low", shown at the same time, life insurance companies intent Carlyle also be a one-time injection Funding.
Carlyle Yang Xiangdong, Managing Director of Asia that the negotiations ultimately the key to success lies in Taibao Carlyle to the Board of Trustees believe that the life insurance company's future profitability is the common interest. At the same time, the end of 2005 coincides with the China Insurance Regulatory Commission to improve the life insurance solvency requirements Taibao the deadline, Taibao This is also an important factor in the decision.
2005 Carlyle signed an agreement with Taibao, the first time, China's largest private equity investment end.
Taibao recalled Carlyle and the negotiations were plagued with setbacks, it is not difficult to find, this case reflects the focus of foreign investors in China's financial industry in various aspirations and concerns, and the two sides for the value of the company, a joint venture prospects for the understanding of differences.
As a purely commercial negotiations, Carlyle and Taibao the marriage shows that no government capital injection in the case of reorganization, China's financial enterprises to obtain foreign favor, even if the financial investor input, we need to pay great efforts and Concessions.
Xinhua insurance premium income of the first seven months of this year over last year total
2008, is considered the development of China's life insurance industry 10 years to run the situation is most severe and complicated year, the risk management of unprecedented pressure on the huge, unprecedented challenges.
For Xinhua insurance, as "Kwan-incident" caused by a variety of uncertain factors are increasing the company's business development more difficult. But the adjustment has experienced many Xinhua insurance still strong and stick, did not slow down the pace of development and hold more in "value-oriented" At the same time, achieving a " fast" development.
Xinhua reporters from the insurance was informed that as at July 31, Xinhua insurance premium income reached 32.84 billion yuan, an increase of 93.4 percent. Only seven months, then over the whole of last year premium income.
First half of this year, domestic life insurance industry average growth rate reached 64.2 percent, setting a new growth industry in recent years high. However, this silver-propelled channels, investment-oriented insurance market take the lead under the high-growth industries also accumulated operational risks, regulators have worried.
"Xinhua is in the insurance business continued to optimize the structure, upgrade the quality of business, strengthen the building of the contingent, and other aspects of the great efforts and realize the value of high growth, Xinhua Insurance formed a unique competitive advantage and sustainable development capability." Company, one Executives said in the press.
January to July, Xinhua insurance business accounted pay period, the share of personal business, the share of new single-payment period and the period of payment accounted silver, and other indicators showed a trend of continuous improvement, including the new single-payment period accounted in the white-hot Market competition, raise last year was still more than two percentage points. Business structure optimization, a Xinhua sustained high growth of the biggest bright spot. The business structure is whether the good life insurance companies ability to achieve a virtuous circle and the key to continuing operations. The executives, optimize the business structure, a Xinhua perseverance of the insurance business strategy. Since 2008, in the rapid development of the business at the same time, Xinhua insurance more to strengthen the operational structure of the monitoring, to ensure that the business structure of the scientific and rational, sustainable optimization.
The first half, Xinhua personal insurance business accounted payment of 98% in the banking agency business, also actively promote the sale of payment products, at present, the Bank of payment business has become the company's new business growth. To the end of July, Xinhua period of payment of the insurance business than the same period last year 706 percent. Xinhua signs and the quality of the renewal of insurance premiums Second, Third, Fourth reached rate, the rate to 13 months, both companies to achieve the best levels in history, comprehensive surrender rate, the payment rate than the same period last year improved significantly. This series of data, are marked Xinhua insurance business continued to upgrade the quality.
In business development, the Xinhua insurance insist insurance protection function and value-oriented growth, increase protection of the coverage of products and vigorously develop the traditional and dividends risk, especially with Xinhua characteristics of the "coverage" dividend risk. Since 2008, companies and individuals operating in the traditional insurance accounted always maintain the dividend in more than 95 percent. At the same time, in view of the market since the 2007 vote even dangerous, dangerous universal demand of the situation, Xinhua Insurance established a customer-oriented demand, the development of appropriate strategies, in some part of the regional channels and even dangerous to vote, the development and universal insurance Sales.
For life insurance companies, sales continued to improve the quality of the contingent, is the foundation of the company bigger and stronger. Xinhua insurance through a series of measures to strengthen the sales team-building, strengthen the quality of education sales, the company's sales force size and capacity upgrade in varying degrees. At the same time, business sales team silver and rapid expansion of the system-wide senior financial planner has more than 1,000. For the second half of the business development laid a solid foundation for the human, and effectively enhanced the potential for sustained development.
"Since 2008, the company achieved a high-value business growth, business value and always maintain more than 30 percent growth. Xinhua Insurance spokesman, director of the Center for Strategic Management Sun Yuchun said:" The fast-changing market, but . Life insurance company's business is Bainiantaiji, must place the stable, healthy, and coordinated development of the first place, to achieve comprehensive competitiveness and enhance the capacity of sustainable development. The Xinhua Insurance, adhere to the value of the development line growth and achieve fast development is that we respond to changes in the market of the same strategy. We also adhere to this, access to the market returns. "
For Xinhua insurance, as "Kwan-incident" caused by a variety of uncertain factors are increasing the company's business development more difficult. But the adjustment has experienced many Xinhua insurance still strong and stick, did not slow down the pace of development and hold more in "value-oriented" At the same time, achieving a " fast" development.
Xinhua reporters from the insurance was informed that as at July 31, Xinhua insurance premium income reached 32.84 billion yuan, an increase of 93.4 percent. Only seven months, then over the whole of last year premium income.
First half of this year, domestic life insurance industry average growth rate reached 64.2 percent, setting a new growth industry in recent years high. However, this silver-propelled channels, investment-oriented insurance market take the lead under the high-growth industries also accumulated operational risks, regulators have worried.
"Xinhua is in the insurance business continued to optimize the structure, upgrade the quality of business, strengthen the building of the contingent, and other aspects of the great efforts and realize the value of high growth, Xinhua Insurance formed a unique competitive advantage and sustainable development capability." Company, one Executives said in the press.
January to July, Xinhua insurance business accounted pay period, the share of personal business, the share of new single-payment period and the period of payment accounted silver, and other indicators showed a trend of continuous improvement, including the new single-payment period accounted in the white-hot Market competition, raise last year was still more than two percentage points. Business structure optimization, a Xinhua sustained high growth of the biggest bright spot. The business structure is whether the good life insurance companies ability to achieve a virtuous circle and the key to continuing operations. The executives, optimize the business structure, a Xinhua perseverance of the insurance business strategy. Since 2008, in the rapid development of the business at the same time, Xinhua insurance more to strengthen the operational structure of the monitoring, to ensure that the business structure of the scientific and rational, sustainable optimization.
The first half, Xinhua personal insurance business accounted payment of 98% in the banking agency business, also actively promote the sale of payment products, at present, the Bank of payment business has become the company's new business growth. To the end of July, Xinhua period of payment of the insurance business than the same period last year 706 percent. Xinhua signs and the quality of the renewal of insurance premiums Second, Third, Fourth reached rate, the rate to 13 months, both companies to achieve the best levels in history, comprehensive surrender rate, the payment rate than the same period last year improved significantly. This series of data, are marked Xinhua insurance business continued to upgrade the quality.
In business development, the Xinhua insurance insist insurance protection function and value-oriented growth, increase protection of the coverage of products and vigorously develop the traditional and dividends risk, especially with Xinhua characteristics of the "coverage" dividend risk. Since 2008, companies and individuals operating in the traditional insurance accounted always maintain the dividend in more than 95 percent. At the same time, in view of the market since the 2007 vote even dangerous, dangerous universal demand of the situation, Xinhua Insurance established a customer-oriented demand, the development of appropriate strategies, in some part of the regional channels and even dangerous to vote, the development and universal insurance Sales.
For life insurance companies, sales continued to improve the quality of the contingent, is the foundation of the company bigger and stronger. Xinhua insurance through a series of measures to strengthen the sales team-building, strengthen the quality of education sales, the company's sales force size and capacity upgrade in varying degrees. At the same time, business sales team silver and rapid expansion of the system-wide senior financial planner has more than 1,000. For the second half of the business development laid a solid foundation for the human, and effectively enhanced the potential for sustained development.
"Since 2008, the company achieved a high-value business growth, business value and always maintain more than 30 percent growth. Xinhua Insurance spokesman, director of the Center for Strategic Management Sun Yuchun said:" The fast-changing market, but . Life insurance company's business is Bainiantaiji, must place the stable, healthy, and coordinated development of the first place, to achieve comprehensive competitiveness and enhance the capacity of sustainable development. The Xinhua Insurance, adhere to the value of the development line growth and achieve fast development is that we respond to changes in the market of the same strategy. We also adhere to this, access to the market returns. "
Domestic financial institutions reach the largest third-party insurance intermediaries
Following Liu's family recently reached the insurance agency industry, another agency involved in the insurance intermediary market. Reporters yesterday that by the Shanghai Noah Investment Management Limited (: Noah wealth Centre) financed construction of the Shanghai Insurance Brokers Limited Noah glory of the China Insurance Regulatory Commission has approved the establishment, the insurance intermediary market reach into the first Third-party financial institutions.
Unlike traditional bank financial management, was established in August 2003 Noah wealth Center is the nation's largest "independent third party," one financial consultant, primarily for customers with comprehensive financial advice. The establishment of the insurance brokerage firm registered capital of 5 million yuan, deputy general manager of Noah's wealth Yanzhe will become the company's executive director and general manager.
Unlike traditional bank financial management, was established in August 2003 Noah wealth Center is the nation's largest "independent third party," one financial consultant, primarily for customers with comprehensive financial advice. The establishment of the insurance brokerage firm registered capital of 5 million yuan, deputy general manager of Noah's wealth Yanzhe will become the company's executive director and general manager.
Yun variable insurance supervision of a licence or a new train of thought
Although far below the record 10.9 percent last year, the best levels in history, but the first half of the 2.41 percent yield has let go of insurance capital in front of the other agencies. China Insurance Regulatory Commission told this person, this performance has been quite good, one of its important contribution to the first half of the bond proceeds are higher, and shares the "running" faster.
However, in reducing the dependence on the stock market, while insurance funds are still seeking "a breakthrough." Intriguing is that very often, regulators are changing ideas, try to "licence" of management, the ability to speak, and investment in infrastructure pilot may become a new regulatory ideas "for the opening."
This is perhaps only just beginning. Informed sources believe that small and medium-sized enterprises direct investment in insurance, the introduction of corporate bonds, overseas investment rules, such as the implementation of the follow-up policy, "capacity building" and "risk control" will become one of the most important keywords.
An Yong infrastructure heat
A CIRC official told this, "indirect investment of insurance capital in infrastructure projects related to pilot management policy amendments, is now in repeated studies, each on the content changes and changes are great, not yet formed into Wrap-up views. "
However, the source said, to promote the new rules is the key ideas: to clarify the regulators and operators of the risk of liability, the insurance company to strengthen capacity-building.
Since March 2006, the China Insurance Regulatory Commission issued the "indirect investment of insurance capital in infrastructure projects pilot management approach", the same year China Life Insurance (26.23,0.80,3.15% point) Deng Sijia asset management companies were the first batch of 12 billion yuan pilot basis Infrastructure investment projects, and the end of last year, Ping An Insurance Agency led to "the Beijing-Shanghai high-speed railway equity investment plan" means shares the Beijing-Shanghai high-speed railway, the indirect investment of insurance capital infrastructure gradual asymptotic.
"We developed this policy is currently the focus of the work, but there is no specific timetable." CIRC uses of funds related to the Supervision Department said, "such as investment amount, the amount of debt issuance, the infrastructure construction sector investment scale, Has yet to be determined. "
Earlier some media said that indirect investment of insurance capital investment ceiling for infrastructure projects, drawn up last year to 8% of total assets, single-scale investment in bonds issued not more than 2 billion yuan. Infrastructure investment arm of not less than 25 people.
Quite a coincidence that this was informed that the Pacific assets management companies, asset management companies, such as Taiping several asset management companies, is currently preparing some sectors of the expansion and relocation of office space.
The spread of such information, is not groundless. Regulatory departments, insurance enterprises have realized that the capital market "dangerous signal", is also trying to expand investment channels.
Our ability to make customs clearance
An internal analysis of a researcher at the Daxing insurance, "Apart from China Life as a floating quarter earnings no significant release, Ping An of China (44.80,1.83,4.26%, bar), the Taibao (19.49,0.54,2.85% point) Floating the surplus is running low, and even began to appear Fukui signs. "
"The first half of the entire industry's performance justifiable," a peaceful asset management companies of the investment securities on our analysis, "the withdrawal of insurance funds in the stock market relatively early."
"But-band operation is not the long term," Green asset management companies (insurance) Investment Management Department said that an insurance company's investment and its long-term liabilities must be found to match the channel.
The above views, the industry seems to have formed a consensus. China Insurance Regulatory Commission recently held in the second quarter of insurance asset management joint meeting, a number of insurance asset management companies signed a letter, the proposed liberalization of insurance funds in real estate, PE, corporate bonds, and other aspects of investment.
"At present the principal contradiction is not wide enough investment channels, but the question of whether the ability." Above the China Insurance Regulatory Commission have revealed that investment in infrastructure projects focus on the revised policy, the insurance companies to strengthen their own capacity-building.
In this connection, a medium-sized insurers to invest Department Tan Chen, "only a securities investment, few dare say their insurance sector investment in research, actuarial, product innovation on a fully-off clearance. As for overseas investment, have been warning. "
The source said, the company recently may be in the field of energy trying to do something, but the emphasis will be placed on their risk control capacity-building, "In addition, similar Huatai asset management companies in financial management product innovation, but also the recent focus on the direction of 1. "
"The revised policy goal is to a specific project, supervision and management departments to make feasibility analysis, and resolution of its board of directors, preventive measures, the share of investment guarantees and supervision." Above the China Insurance Regulatory Commission said.
Supervision of new ideas
The sources, in determining the insurance companies to strengthen capacity-building prior to the need to distinguish the responsibility of the risk that the regulators and operators of the border is what »
"The Government's duty is to guard against the risk of policy, investment and the future possibility of systemic risk, if the two can (policy and systemic) risk grasp, goes only to be done in accordance with the law in accordance with the regulation." Above CIRC said, as to the specific decision-making, credit and other business operations or the formation of risk, the Government will not bear.
For new ideas in the regulatory responsibility for defining the risk, an authoritative analysis of the insurance industry, similar to Hong Kong's financial industry licence management ideas, "you can set up companies, but must first have a licensee can do it, if the holders Licensing people have problems, then those responsible are held accountable, and a recovery in the end. "
Despite the one hand, the future management of the licence, but on the other hand if the investment in a very narrow range, is also useless, because any class enterprises can only set a limit, the decision to limit the size of its investment feasibility.
"Dangerous level of investment was not the initial screening capacity, especially as last year, as the fundamental period of prosperity can not see, too little time can not be tested." Investment manager of the insurance company said.
"Small and medium-sized enterprises enter the market directly for insurance Why has refused to slowly breaking the silence» is because some companies with capital of the past have not only a part-time Accountants, the Government how dare open »" the authority said.
"In the past few years mainly in the open investment channels have done a lot of work now to improve insurance class asset allocation, and resolve configuration risks, how to choose a higher safety factor for the assets of the investment portfolio is the course of our efforts." Above the OCI Will say, "This should be a gradual change and improve the process."
However, in reducing the dependence on the stock market, while insurance funds are still seeking "a breakthrough." Intriguing is that very often, regulators are changing ideas, try to "licence" of management, the ability to speak, and investment in infrastructure pilot may become a new regulatory ideas "for the opening."
This is perhaps only just beginning. Informed sources believe that small and medium-sized enterprises direct investment in insurance, the introduction of corporate bonds, overseas investment rules, such as the implementation of the follow-up policy, "capacity building" and "risk control" will become one of the most important keywords.
An Yong infrastructure heat
A CIRC official told this, "indirect investment of insurance capital in infrastructure projects related to pilot management policy amendments, is now in repeated studies, each on the content changes and changes are great, not yet formed into Wrap-up views. "
However, the source said, to promote the new rules is the key ideas: to clarify the regulators and operators of the risk of liability, the insurance company to strengthen capacity-building.
Since March 2006, the China Insurance Regulatory Commission issued the "indirect investment of insurance capital in infrastructure projects pilot management approach", the same year China Life Insurance (26.23,0.80,3.15% point) Deng Sijia asset management companies were the first batch of 12 billion yuan pilot basis Infrastructure investment projects, and the end of last year, Ping An Insurance Agency led to "the Beijing-Shanghai high-speed railway equity investment plan" means shares the Beijing-Shanghai high-speed railway, the indirect investment of insurance capital infrastructure gradual asymptotic.
"We developed this policy is currently the focus of the work, but there is no specific timetable." CIRC uses of funds related to the Supervision Department said, "such as investment amount, the amount of debt issuance, the infrastructure construction sector investment scale, Has yet to be determined. "
Earlier some media said that indirect investment of insurance capital investment ceiling for infrastructure projects, drawn up last year to 8% of total assets, single-scale investment in bonds issued not more than 2 billion yuan. Infrastructure investment arm of not less than 25 people.
Quite a coincidence that this was informed that the Pacific assets management companies, asset management companies, such as Taiping several asset management companies, is currently preparing some sectors of the expansion and relocation of office space.
The spread of such information, is not groundless. Regulatory departments, insurance enterprises have realized that the capital market "dangerous signal", is also trying to expand investment channels.
Our ability to make customs clearance
An internal analysis of a researcher at the Daxing insurance, "Apart from China Life as a floating quarter earnings no significant release, Ping An of China (44.80,1.83,4.26%, bar), the Taibao (19.49,0.54,2.85% point) Floating the surplus is running low, and even began to appear Fukui signs. "
"The first half of the entire industry's performance justifiable," a peaceful asset management companies of the investment securities on our analysis, "the withdrawal of insurance funds in the stock market relatively early."
"But-band operation is not the long term," Green asset management companies (insurance) Investment Management Department said that an insurance company's investment and its long-term liabilities must be found to match the channel.
The above views, the industry seems to have formed a consensus. China Insurance Regulatory Commission recently held in the second quarter of insurance asset management joint meeting, a number of insurance asset management companies signed a letter, the proposed liberalization of insurance funds in real estate, PE, corporate bonds, and other aspects of investment.
"At present the principal contradiction is not wide enough investment channels, but the question of whether the ability." Above the China Insurance Regulatory Commission have revealed that investment in infrastructure projects focus on the revised policy, the insurance companies to strengthen their own capacity-building.
In this connection, a medium-sized insurers to invest Department Tan Chen, "only a securities investment, few dare say their insurance sector investment in research, actuarial, product innovation on a fully-off clearance. As for overseas investment, have been warning. "
The source said, the company recently may be in the field of energy trying to do something, but the emphasis will be placed on their risk control capacity-building, "In addition, similar Huatai asset management companies in financial management product innovation, but also the recent focus on the direction of 1. "
"The revised policy goal is to a specific project, supervision and management departments to make feasibility analysis, and resolution of its board of directors, preventive measures, the share of investment guarantees and supervision." Above the China Insurance Regulatory Commission said.
Supervision of new ideas
The sources, in determining the insurance companies to strengthen capacity-building prior to the need to distinguish the responsibility of the risk that the regulators and operators of the border is what »
"The Government's duty is to guard against the risk of policy, investment and the future possibility of systemic risk, if the two can (policy and systemic) risk grasp, goes only to be done in accordance with the law in accordance with the regulation." Above CIRC said, as to the specific decision-making, credit and other business operations or the formation of risk, the Government will not bear.
For new ideas in the regulatory responsibility for defining the risk, an authoritative analysis of the insurance industry, similar to Hong Kong's financial industry licence management ideas, "you can set up companies, but must first have a licensee can do it, if the holders Licensing people have problems, then those responsible are held accountable, and a recovery in the end. "
Despite the one hand, the future management of the licence, but on the other hand if the investment in a very narrow range, is also useless, because any class enterprises can only set a limit, the decision to limit the size of its investment feasibility.
"Dangerous level of investment was not the initial screening capacity, especially as last year, as the fundamental period of prosperity can not see, too little time can not be tested." Investment manager of the insurance company said.
"Small and medium-sized enterprises enter the market directly for insurance Why has refused to slowly breaking the silence» is because some companies with capital of the past have not only a part-time Accountants, the Government how dare open »" the authority said.
"In the past few years mainly in the open investment channels have done a lot of work now to improve insurance class asset allocation, and resolve configuration risks, how to choose a higher safety factor for the assets of the investment portfolio is the course of our efforts." Above the OCI Will say, "This should be a gradual change and improve the process."
National insurance intermediary the first half of the premium growth of 53.36 percent year-on-year
China Insurance Regulatory Commission on July 30 issued by the first half of the insurance intermediary market development report showed that as at June 30, the insurance companies through the intermediary channels of insurance premium income of 441.582 billion yuan, an increase of 53.36 percent.
As of June 30, the total insurance professional intermediaries 2381, and the agency 151,568, marketers 2218573 people. Professional insurance intermediary organizations registered capital reached 6.071 billion yuan, an increase of 3.20 percent, total assets reached 8.378 billion yuan, an increase of 15.86 percent.
As of June 30, the total insurance professional intermediaries 2381, and the agency 151,568, marketers 2218573 people. Professional insurance intermediary organizations registered capital reached 6.071 billion yuan, an increase of 3.20 percent, total assets reached 8.378 billion yuan, an increase of 15.86 percent.
Insurance fund companies listed imminent transfer of Xinhua Life Insurance shares will be legalized
July 29, held by the China Insurance Regulatory Commission at a routine press conference the second quarter, the Assistant Chairman of the China Insurance Regulatory Commission spokesman Yuan Li said, at present, insurance fund management companies are the smooth commencement of construction work, completed in After the procedure was set up formally. After a report that insurance companies in the fund after the approval of the State Council in the earliest possible establishment of 6,7 month.
Yuan in the second quarter of a news conference on the position, Xinhua Life Insurance will no doubt again part of "equity" to push outlet Langjian However, Yuan Li said that insurance companies only short-term fund holders, once the time is ripe, will transfer to Insurance coverage Fund's part of the shares of Xinhua Life Insurance, Xinhua Life Insurance exit.
Status of "rationalization"
Insurance protection fund was widespread concern due to the use of the China Insurance Regulatory Commission to address the Xinhua Life Insurance misappropriation of funds issue. After a few shots, the insurance protection fund has invested 2.196 billion yuan acquisition of Xinhua Life Insurance 366.648 million shares to 30.554 percent stake, Xinhua Life Insurance nominally become the first major shareholders.
"In the future, insurance fund management companies after listing, Xinhua Life Insurance as the largest shareholder will be more rationalization addition, Xinhua Life Insurance in dealing with the issue and sell shares on issues such as pricing, as the company is also in the process is indispensable Step. "July 30, foreign trade insurance University scholar Tuo Guozhu said that when interviewed by reporters.
This reporter has learned that the approval of the State Council, approved construction of the insurance fund management companies registered capital of 100 million yuan, based in Beijing. After the founding of the company, originally from the China Insurance Regulatory Commission financial management of the Department of the scale of over 10 billion yuan of insurance protection fund, will be handed over to the new company operations.
According to media reports before, the fund will be the insurance company's "management" list are mainly from the China Insurance Regulatory Commission. Among them, the China Insurance Regulatory Commission Vice Chairman Wei Ying-ling, chairman of the new company may concurrently, and the China Insurance Regulatory Commission uses of funds in-Jin, deputy director of the Department may be as general manager and other executives may come from the China Insurance Security Fund Council of the other members of units.
The conference, Yuan Li said that China's insurance companies to set up the fund, will help fund the insurance market and specialized operation, the insurance industry to enhance the risk of self-protection and risk capabilities.
This reporter has learned that the insurance protection fund was established in 2005, according to various types of business by the insurance companies collect the premiums paid by a certain percentage.
Tuo Guozhu professor told reporters that the China Insurance Regulatory Commission to set up the original intention of the insurance protection fund is mainly two aspects. First of all, is to take over as the Xinhua Life Insurance stake in this issue, the insurance companies operating in a crisis when the shots "to help one." There is also an important mission, is the future insurance company may be revoked or declared bankrupt, the insurance protection fund will come forward to take over, to policy holders or the transferee company, and other policies, such as the provision of relief.
"The insurance companies after the establishment of the fund, in addition to the above responsibilities, but also can use specialized team to carry out investment activities." Tuo Guozhu professor said.
According to relevant regulations, at present, the use of insurance funds is limited to bank deposits, the sale of government bonds and other funds under the China Insurance Regulatory Commission application form, shall not be applied to equity investment, investment in real estate and other types of industrial investment.
Baosteel, the possibility of person-to-large
Yuan said that the meeting of the insurance protection fund currently held by the Xinhua Life Insurance stake is the stage when all the conditions are ripe, the insurance fund will be in accordance with the relevant provisions of the transfer of shares from Xinhua Life Insurance exit.
Earlier, the insurance industry analysts believe that Xinhua Life Insurance shares have been outstanding issues, mainly because there was no legal personality to enable the transfer of equity prices legalization.
Today, insurance companies in the fund when the listing after the withdrawal of how to opt-out, Xinhua Life Insurance is the question of who will ultimately take over the stake, Xinhua Life Insurance stake in the transfer of what will be the price of new issues, such as, became concerned about the process of Xinhua Life Insurance events The new focus.
Recommended Reading
[Exclusive planning] - and exposed Center Daily News: 209 companies 30% net profit growth of more lifting of the ban in August will be 210 billion
Hu Jintao: promoting the role of the Olympic Games should not be overestimated Mr Michael Tien, chairman of Beijing housing prices declassified economic half-hour: prices will be down after the Olympics is Dong Qing court scolded the emotional burst out of control [10 Taiqiyejia] Huaxi's father Wu Baoren [history of] the rule of law 20 [AP] incoming floods have been reported in the media of "suspected" to set the list, there are Baosteel, PICC Property Insurance and China Ping An, such as reinsurance and the number of bodies seen.
An insurance industry believes that in this appears to be more than Deere Xinhua Life Insurance Company's largest shareholder behind, according to speculate, as well as the news from the China Insurance Regulatory Commission, Xinhua Life Insurance in funding the current major shareholder of Baosteel Group and People's Insurance Finance Taken to risk the possibility of greater disk.
Before news that PICC Property Insurance executives on the issue of equity Xinhua Life Insurance and China Insurance Regulatory Commission a number of consultations, the Pode regulatory approval.
At the same time, compared to peace, this country's life insurance, the Property & Casualty development of a comprehensive "sex scandal" target, PICC Property Insurance more likely reason is that people in the center of gravity-General Insurance, life insurance and this is almost A gap that Xinhua Life Insurance stake to people's financial security comprehensive management "at home."
However, as shareholders, such as Baosteel and the existence of Zurich, the PICC Property Insurance to set will not be "smooth sailing."
Zurich Greater China, Southeast Asia chief executive officer of Zhi-Hong Chen had in a media interview, said, "Baosteel, Zurich hope to the future development of Xinhua Life Insurance to play an important role, and Zurich, including management, underwriting, finance, etc. The resources, so we feel that insurance companies do not need a second intervention, we feel that this is not necessary. "
However, in view of Zurich as the largest foreign shareholder of Xinhua Life Insurance shares have reached a ceiling Jian Guanceng addition, Baoshan Iron and Steel Group has been working with the close cooperation, so this "mission" will undoubtedly fall on Baosteel. Meanwhile, the Baoshan Iron and Steel as a transferee with priority given to existing shareholders the right to the shares, is another important, "then-candidate."
Baoshan Iron and Steel Group to the information, even though the main industry for the Baoshan Iron and Steel Industry Co., rather than the financial industry, but in the system, nor what obstacles at the same time, according to media prior to the information received from the China Insurance Regulatory Commission said, Baoshan Iron and Steel Group would be possible to use its A wholly-owned holding company of Warburg Trust to set insurance coverage to fund part of the shares of Xinhua Life Insurance.
Yuan in the second quarter of a news conference on the position, Xinhua Life Insurance will no doubt again part of "equity" to push outlet Langjian However, Yuan Li said that insurance companies only short-term fund holders, once the time is ripe, will transfer to Insurance coverage Fund's part of the shares of Xinhua Life Insurance, Xinhua Life Insurance exit.
Status of "rationalization"
Insurance protection fund was widespread concern due to the use of the China Insurance Regulatory Commission to address the Xinhua Life Insurance misappropriation of funds issue. After a few shots, the insurance protection fund has invested 2.196 billion yuan acquisition of Xinhua Life Insurance 366.648 million shares to 30.554 percent stake, Xinhua Life Insurance nominally become the first major shareholders.
"In the future, insurance fund management companies after listing, Xinhua Life Insurance as the largest shareholder will be more rationalization addition, Xinhua Life Insurance in dealing with the issue and sell shares on issues such as pricing, as the company is also in the process is indispensable Step. "July 30, foreign trade insurance University scholar Tuo Guozhu said that when interviewed by reporters.
This reporter has learned that the approval of the State Council, approved construction of the insurance fund management companies registered capital of 100 million yuan, based in Beijing. After the founding of the company, originally from the China Insurance Regulatory Commission financial management of the Department of the scale of over 10 billion yuan of insurance protection fund, will be handed over to the new company operations.
According to media reports before, the fund will be the insurance company's "management" list are mainly from the China Insurance Regulatory Commission. Among them, the China Insurance Regulatory Commission Vice Chairman Wei Ying-ling, chairman of the new company may concurrently, and the China Insurance Regulatory Commission uses of funds in-Jin, deputy director of the Department may be as general manager and other executives may come from the China Insurance Security Fund Council of the other members of units.
The conference, Yuan Li said that China's insurance companies to set up the fund, will help fund the insurance market and specialized operation, the insurance industry to enhance the risk of self-protection and risk capabilities.
This reporter has learned that the insurance protection fund was established in 2005, according to various types of business by the insurance companies collect the premiums paid by a certain percentage.
Tuo Guozhu professor told reporters that the China Insurance Regulatory Commission to set up the original intention of the insurance protection fund is mainly two aspects. First of all, is to take over as the Xinhua Life Insurance stake in this issue, the insurance companies operating in a crisis when the shots "to help one." There is also an important mission, is the future insurance company may be revoked or declared bankrupt, the insurance protection fund will come forward to take over, to policy holders or the transferee company, and other policies, such as the provision of relief.
"The insurance companies after the establishment of the fund, in addition to the above responsibilities, but also can use specialized team to carry out investment activities." Tuo Guozhu professor said.
According to relevant regulations, at present, the use of insurance funds is limited to bank deposits, the sale of government bonds and other funds under the China Insurance Regulatory Commission application form, shall not be applied to equity investment, investment in real estate and other types of industrial investment.
Baosteel, the possibility of person-to-large
Yuan said that the meeting of the insurance protection fund currently held by the Xinhua Life Insurance stake is the stage when all the conditions are ripe, the insurance fund will be in accordance with the relevant provisions of the transfer of shares from Xinhua Life Insurance exit.
Earlier, the insurance industry analysts believe that Xinhua Life Insurance shares have been outstanding issues, mainly because there was no legal personality to enable the transfer of equity prices legalization.
Today, insurance companies in the fund when the listing after the withdrawal of how to opt-out, Xinhua Life Insurance is the question of who will ultimately take over the stake, Xinhua Life Insurance stake in the transfer of what will be the price of new issues, such as, became concerned about the process of Xinhua Life Insurance events The new focus.
Recommended Reading
[Exclusive planning] - and exposed Center Daily News: 209 companies 30% net profit growth of more lifting of the ban in August will be 210 billion
Hu Jintao: promoting the role of the Olympic Games should not be overestimated Mr Michael Tien, chairman of Beijing housing prices declassified economic half-hour: prices will be down after the Olympics is Dong Qing court scolded the emotional burst out of control [10 Taiqiyejia] Huaxi's father Wu Baoren [history of] the rule of law 20 [AP] incoming floods have been reported in the media of "suspected" to set the list, there are Baosteel, PICC Property Insurance and China Ping An, such as reinsurance and the number of bodies seen.
An insurance industry believes that in this appears to be more than Deere Xinhua Life Insurance Company's largest shareholder behind, according to speculate, as well as the news from the China Insurance Regulatory Commission, Xinhua Life Insurance in funding the current major shareholder of Baosteel Group and People's Insurance Finance Taken to risk the possibility of greater disk.
Before news that PICC Property Insurance executives on the issue of equity Xinhua Life Insurance and China Insurance Regulatory Commission a number of consultations, the Pode regulatory approval.
At the same time, compared to peace, this country's life insurance, the Property & Casualty development of a comprehensive "sex scandal" target, PICC Property Insurance more likely reason is that people in the center of gravity-General Insurance, life insurance and this is almost A gap that Xinhua Life Insurance stake to people's financial security comprehensive management "at home."
However, as shareholders, such as Baosteel and the existence of Zurich, the PICC Property Insurance to set will not be "smooth sailing."
Zurich Greater China, Southeast Asia chief executive officer of Zhi-Hong Chen had in a media interview, said, "Baosteel, Zurich hope to the future development of Xinhua Life Insurance to play an important role, and Zurich, including management, underwriting, finance, etc. The resources, so we feel that insurance companies do not need a second intervention, we feel that this is not necessary. "
However, in view of Zurich as the largest foreign shareholder of Xinhua Life Insurance shares have reached a ceiling Jian Guanceng addition, Baoshan Iron and Steel Group has been working with the close cooperation, so this "mission" will undoubtedly fall on Baosteel. Meanwhile, the Baoshan Iron and Steel as a transferee with priority given to existing shareholders the right to the shares, is another important, "then-candidate."
Baoshan Iron and Steel Group to the information, even though the main industry for the Baoshan Iron and Steel Industry Co., rather than the financial industry, but in the system, nor what obstacles at the same time, according to media prior to the information received from the China Insurance Regulatory Commission said, Baoshan Iron and Steel Group would be possible to use its A wholly-owned holding company of Warburg Trust to set insurance coverage to fund part of the shares of Xinhua Life Insurance.
Fund, QFII and insurance three major confrontation between the secret
Duokong mutual funds now, QFII has been read, but to insurance funds as the main force of other bodies (T prefix seats) show unilateral see attitude toward the operation of air
Red July, the Shanghai index hovering at 3,000 points, the performance of the three main differences, the Fund's wavering volatile, high parabolic Dixi and QFII bought the firm in sharp contrast to, and the insurance funds all the way to go short, has become The scale of the stock market fell one end of a heavy weight of the weight.
August 1, A shares open lower after weak finishing, but at 13:45 as a doping implantation, rapid Elevated index, closed at Huzhi rose 26.1 points, or 0.92 percent, up 86.58 points, or Shen Chengzhi 0.91 percent, the amplitude of the two cities have reached or nearly 4 percent. Although the end of July stumble down the A-shares end in August of the first trading day has been terminated.
Market speculation, the Government rescue funds have been quietly enter the market before the Olympic Games for the "Ignition", but the rumors could not be confirmed.
In fact, the August 1st of July market is the epitome of the whole market. "Red May", "red in June," one after another, "Shi Yue", in July on the Topix index rose to 1.45 percent of the realization of the "Red July", the rise of such hesitation, the people for the stock market " Smooth, "Nie Leyi the cold sweat.
Fund wavering uncertain
Despite the shrinking size of assets serious, but the stock funds into the market once again the protagonist, as at June 30, the stock of the Fund's net assets fell to 1.1276 trillion yuan. Shanghai and Shenzhen over the same period the circulation market value of only 5.9 trillion, less than 6 trillion, the Fund once again become a major market force.
Throughout July, the fund industry in what »
July 1-July 30, the market's main institutions fund performance by the great differences remain. Compass Topview, Shanghai A-shares, fund companies for trading seats in the same month to buy the stock reached 109.189 billion yuan of funds, and sell the funds of up to 119.341 billion yuan, funds sold a net amount of 10.152 billion yuan.
From the sale of the fund industry segment, the performance of bank shares to the good. Statistics show that from July 3 to July 30, funds bought a net 6.4 billion bank shares, followed by 3.7 billion yuan petrochemical, civil engineering (18.7 billion), securities insurance (1.868 billion yuan), and other sections also depend on the relative Ago.
Fund industry to see empty plates and a coking coal, sold a net 6.5 billion yuan; iron and steel smelting, sold a net 3.498 billion yuan; real estate development, sold a net 1.733 billion yuan; precious metals, sold a net 1.7 billion.
Stocks from the fund for the operation, the China Petrochemical, the Minsheng Bank, China Life Insurance, Industrial and Commercial Bank (market share it), petrochemical, financial stocks showing a large net buying, while the Pingmei days, Baosteel, the Golden Group ( Market share it), Conch Cement (market share it) was the massive sell-off.
Phases, the Fund's operating practices emerged to sell to buy features.
Throughout July, A shares of a M-shaped formation of the movement: from July 1 to July 9, is the wave of rally; Immediately after the adjustment from July 10 has been extended to July 17; immediately Also rebound to start July 28; Suoliang then is finishing.
In July 1 to July 9 rally in the Shanghai A-share fund sold a total of 48.793 billion yuan, 38.81 billion yuan to buy, sell up to 9.9 billion yuan net.
But in July 10 to July 17 the decline in the market, the fund has sold less power. During buy 26 billion yuan, sold 28.8 billion yuan, only sold a net 2.8 billion yuan.
July 18 to July 28's, A rebound in the shares of this wave, Hu Zhi or as high as 8.13 percent, the Fund reproduce active, 36.266 billion yuan of funds bought, sold 32.75 billion yuan, funds bought a net capacity 3.5 billion.
In the July 29, two on the 30th trading day, the Fund Kongfangliliang again prevail, funds sold 8.99 billion yuan, higher than the funds to buy 890 million yuan.
We can see that the Fund's operations more cautious, no clear direction, lack of long-term holdings of courage.
QFII firm do more
QFII is to do one more major. At present, the market was widespread concern the two QFII seats, which are in the seats A23751, Shanghai 000 seats A20941. It has been revealed that a 12 QFII stationed in the seats A23751, there are seven million QFII stationed in Shanghai seats A20941.
July, the two seats in both the top financial transactions listed. From July 1 to July 30, A23751 seats sold in the capital of 60.2 billion yuan, of buying funds can reach 7.635 billion yuan, bought a net reached 1.615 billion yuan.
Shanghai A20941 000 seats which funds to buy 4.72 billion yuan, 3.17 billion yuan of funds sold, the funds bought a net 1.55 billion yuan.
July, A23751 seats in the operation of a total of 943 times out of 235 stocks, of which 107 to a net buying, selling a net 128. The seats in July to buy the top 10 stocks, four banking stocks, that the operation in July, in the seat plate A23751 still optimistic about banks, including Bank of Communications (market share it) bought a net amount of As many as the 1.2 billion yuan. And bought a net from the front seat of the Bank of Communications, Conch Cement, China's railway construction, such as stocks, are part of the AH stock price inversion.
Shanghai to observe the 000 seats A20941 in the operation in July, statistics show that the operation of the seats in July, 516, 186 out of the stock, of which 104 to a net buying, selling a net 82. The focus of seats in July Chongcang the first few banks are also stock shares, respectively, Shanghai Pudong Development Bank, China Merchants Bank, Industrial and Commercial Bank and Bank of Communications. Comparison of the seats in the operation A23751 found that the two seats in July jointly selected by four banking stocks, only some differences in the order.
It is noteworthy that these two seats are in a period of time since the performance of bank shares to the good. Of the seats in the A23751, the bank segment is the focus of seats in the second quarter of the plate intervention, including China Construction Bank (market share it) for three consecutive months in terms of the net to buy the first 10 seats, but the Industrial and Commercial Bank will take after the first disposable, In April a net buy position of the first, and in June was ranked the first volume of net selling. And the 000 seats A20941 Shanghai, in April and May, the involvement of key seats in the banking segment, to June, the seat of funds into China's major iron and construction of these two railways in China "Iron Tiger . "
Bao-sold 12 billion yuan
Duokong mutual funds now, QFII has been read, but to insurance funds as the main force of other bodies (T prefix seats) air show to see the operation of unilateral attitude.
First half of this year, T-prefix seats sold a net capital of 33.9 billion yuan in July, T-prefix is even more seats, selling a net capital of up to nearly 12 billion yuan.
It is worth noting that a few seats in the sale of T-prefix disparity between the amount of difference, to demonstrate their views more strongly investors.
T35448 seats sold funds amounted to 2.56 billion yuan, only bought 200 million yuan; T33092 seats sold 1.9 billion yuan of funds, but only buy 20 million shares; still T32774, sold 927 million yuan to buy To 1.21 million yuan.
T35448 in July conducted a total of 125 operations, sold the most stock is a lot of CITIC Securities, sold 844 million yuan, followed by the Zijin Mining (market shares Bar) sold 296 million yuan. T33092 seats on the Shanghai Pudong Development Bank conducted a large number of underweight, sold nearly 400 million yuan of funds; seats is not optimistic about the Ordos, the stock sold 138 million yuan. T32774 seats shown in the energy, petrochemical, the N., China Shenhua sold 58.8 million yuan, Sinopec sold 49.33 million yuan.
In the other seats of concern is self-employed broker. Self-employed broker the transaction data shows that the differences between various brokerage firms. July, CITIC Securities, Orient Securities see more and more, the Orient Securities A52920 self-seat net 570 million yuan to buy shares, while CITIC Securities self-seat A21592 net 2.178 billion yuan to buy shares. But in the same period Haitong Securities (market share it) A21414 net sales of the seats sold 600 million shares, Ping An Securities A21558 sold a net 460 million yuan.
Red July, the Shanghai index hovering at 3,000 points, the performance of the three main differences, the Fund's wavering volatile, high parabolic Dixi and QFII bought the firm in sharp contrast to, and the insurance funds all the way to go short, has become The scale of the stock market fell one end of a heavy weight of the weight.
August 1, A shares open lower after weak finishing, but at 13:45 as a doping implantation, rapid Elevated index, closed at Huzhi rose 26.1 points, or 0.92 percent, up 86.58 points, or Shen Chengzhi 0.91 percent, the amplitude of the two cities have reached or nearly 4 percent. Although the end of July stumble down the A-shares end in August of the first trading day has been terminated.
Market speculation, the Government rescue funds have been quietly enter the market before the Olympic Games for the "Ignition", but the rumors could not be confirmed.
In fact, the August 1st of July market is the epitome of the whole market. "Red May", "red in June," one after another, "Shi Yue", in July on the Topix index rose to 1.45 percent of the realization of the "Red July", the rise of such hesitation, the people for the stock market " Smooth, "Nie Leyi the cold sweat.
Fund wavering uncertain
Despite the shrinking size of assets serious, but the stock funds into the market once again the protagonist, as at June 30, the stock of the Fund's net assets fell to 1.1276 trillion yuan. Shanghai and Shenzhen over the same period the circulation market value of only 5.9 trillion, less than 6 trillion, the Fund once again become a major market force.
Throughout July, the fund industry in what »
July 1-July 30, the market's main institutions fund performance by the great differences remain. Compass Topview, Shanghai A-shares, fund companies for trading seats in the same month to buy the stock reached 109.189 billion yuan of funds, and sell the funds of up to 119.341 billion yuan, funds sold a net amount of 10.152 billion yuan.
From the sale of the fund industry segment, the performance of bank shares to the good. Statistics show that from July 3 to July 30, funds bought a net 6.4 billion bank shares, followed by 3.7 billion yuan petrochemical, civil engineering (18.7 billion), securities insurance (1.868 billion yuan), and other sections also depend on the relative Ago.
Fund industry to see empty plates and a coking coal, sold a net 6.5 billion yuan; iron and steel smelting, sold a net 3.498 billion yuan; real estate development, sold a net 1.733 billion yuan; precious metals, sold a net 1.7 billion.
Stocks from the fund for the operation, the China Petrochemical, the Minsheng Bank, China Life Insurance, Industrial and Commercial Bank (market share it), petrochemical, financial stocks showing a large net buying, while the Pingmei days, Baosteel, the Golden Group ( Market share it), Conch Cement (market share it) was the massive sell-off.
Phases, the Fund's operating practices emerged to sell to buy features.
Throughout July, A shares of a M-shaped formation of the movement: from July 1 to July 9, is the wave of rally; Immediately after the adjustment from July 10 has been extended to July 17; immediately Also rebound to start July 28; Suoliang then is finishing.
In July 1 to July 9 rally in the Shanghai A-share fund sold a total of 48.793 billion yuan, 38.81 billion yuan to buy, sell up to 9.9 billion yuan net.
But in July 10 to July 17 the decline in the market, the fund has sold less power. During buy 26 billion yuan, sold 28.8 billion yuan, only sold a net 2.8 billion yuan.
July 18 to July 28's, A rebound in the shares of this wave, Hu Zhi or as high as 8.13 percent, the Fund reproduce active, 36.266 billion yuan of funds bought, sold 32.75 billion yuan, funds bought a net capacity 3.5 billion.
In the July 29, two on the 30th trading day, the Fund Kongfangliliang again prevail, funds sold 8.99 billion yuan, higher than the funds to buy 890 million yuan.
We can see that the Fund's operations more cautious, no clear direction, lack of long-term holdings of courage.
QFII firm do more
QFII is to do one more major. At present, the market was widespread concern the two QFII seats, which are in the seats A23751, Shanghai 000 seats A20941. It has been revealed that a 12 QFII stationed in the seats A23751, there are seven million QFII stationed in Shanghai seats A20941.
July, the two seats in both the top financial transactions listed. From July 1 to July 30, A23751 seats sold in the capital of 60.2 billion yuan, of buying funds can reach 7.635 billion yuan, bought a net reached 1.615 billion yuan.
Shanghai A20941 000 seats which funds to buy 4.72 billion yuan, 3.17 billion yuan of funds sold, the funds bought a net 1.55 billion yuan.
July, A23751 seats in the operation of a total of 943 times out of 235 stocks, of which 107 to a net buying, selling a net 128. The seats in July to buy the top 10 stocks, four banking stocks, that the operation in July, in the seat plate A23751 still optimistic about banks, including Bank of Communications (market share it) bought a net amount of As many as the 1.2 billion yuan. And bought a net from the front seat of the Bank of Communications, Conch Cement, China's railway construction, such as stocks, are part of the AH stock price inversion.
Shanghai to observe the 000 seats A20941 in the operation in July, statistics show that the operation of the seats in July, 516, 186 out of the stock, of which 104 to a net buying, selling a net 82. The focus of seats in July Chongcang the first few banks are also stock shares, respectively, Shanghai Pudong Development Bank, China Merchants Bank, Industrial and Commercial Bank and Bank of Communications. Comparison of the seats in the operation A23751 found that the two seats in July jointly selected by four banking stocks, only some differences in the order.
It is noteworthy that these two seats are in a period of time since the performance of bank shares to the good. Of the seats in the A23751, the bank segment is the focus of seats in the second quarter of the plate intervention, including China Construction Bank (market share it) for three consecutive months in terms of the net to buy the first 10 seats, but the Industrial and Commercial Bank will take after the first disposable, In April a net buy position of the first, and in June was ranked the first volume of net selling. And the 000 seats A20941 Shanghai, in April and May, the involvement of key seats in the banking segment, to June, the seat of funds into China's major iron and construction of these two railways in China "Iron Tiger . "
Bao-sold 12 billion yuan
Duokong mutual funds now, QFII has been read, but to insurance funds as the main force of other bodies (T prefix seats) air show to see the operation of unilateral attitude.
First half of this year, T-prefix seats sold a net capital of 33.9 billion yuan in July, T-prefix is even more seats, selling a net capital of up to nearly 12 billion yuan.
It is worth noting that a few seats in the sale of T-prefix disparity between the amount of difference, to demonstrate their views more strongly investors.
T35448 seats sold funds amounted to 2.56 billion yuan, only bought 200 million yuan; T33092 seats sold 1.9 billion yuan of funds, but only buy 20 million shares; still T32774, sold 927 million yuan to buy To 1.21 million yuan.
T35448 in July conducted a total of 125 operations, sold the most stock is a lot of CITIC Securities, sold 844 million yuan, followed by the Zijin Mining (market shares Bar) sold 296 million yuan. T33092 seats on the Shanghai Pudong Development Bank conducted a large number of underweight, sold nearly 400 million yuan of funds; seats is not optimistic about the Ordos, the stock sold 138 million yuan. T32774 seats shown in the energy, petrochemical, the N., China Shenhua sold 58.8 million yuan, Sinopec sold 49.33 million yuan.
In the other seats of concern is self-employed broker. Self-employed broker the transaction data shows that the differences between various brokerage firms. July, CITIC Securities, Orient Securities see more and more, the Orient Securities A52920 self-seat net 570 million yuan to buy shares, while CITIC Securities self-seat A21592 net 2.178 billion yuan to buy shares. But in the same period Haitong Securities (market share it) A21414 net sales of the seats sold 600 million shares, Ping An Securities A21558 sold a net 460 million yuan.
Most insurance companies existence of pressure in the short term accident insurance policy
"On the policy, there are countermeasures." Hang Yixian especially in the market.
"Now we do the short-term moratorium on the sale of the Hang Yixian, so you can not provide these services." When a reporter at the Great Wall Life Support phones, so customer service representatives told reporters. At the same time, she also said: "when to resume sales of the product is still no definite answer."
According to reporter has learned that the short-term accident insurance products and the China Insurance Regulatory Commission recently to the sale of insurance products on the market rectification. According to a senior insurance industry, the current size of the insurance companies have pressure short-term accident insurance policies phenomenon, agents or outlets will be part of the policy in order to gain entry to the insurance company is not the system. The great efforts to rectify the China Insurance Regulatory Commission, has led to short-term accident insurance market norms lot.
Driver left to the interests of the insured risk
April 2007, the China Insurance Regulatory Commission had Hang Yixian sales market for the various diseases such as the introduction of the premium income to the full, timely and accurate accounting; fee expenditures must be promptly and accurately recorded, such as "insurance companies standardize aviation accident insurance The five criteria ".
"In fact, the crash of the small probability of more, ah, one of the 20 Hang Yixian money, if the bodies are packaged for sale, you see is a collective insurance alone, and not the real-name system." One insurance industry, told reporters . This is the short-term insurance corporation accident insurance policies of the so-called Maoni. Even if there's an accident, can also related to the operation of a reasonable settlement. "But now more and more difficult for the operation." The person said.
Hang Yixian, and short-term travel accident insurance companies in the insurance business may not account for an important position, but the clerk there have been welcome.
Dr. Wong is a state-owned assets, a senior insurance company clerk, several large travel agencies are her old customers. She always will be a lot of policies on these travel agencies, once a month to end accounts. A travel agency sales staff Mr. Cui told reporters: "In fact, many times, our customers are already starting, but they may not return receipt of insurance companies to be in our hands. Therefore, their insurance is not really recognized. "
Then, there will be no sales pressure will only fail to report the situation? » "It depends on the situation, we do not need to point interest to take the risk, but the insurance company clerk side of the operation is how we do not know." Mr. Cui told reporters.
And do the same travel product sales of Miss Chen told reporters that she has a collection of a client's premiums to the insurance company's failure to make timely, then the delegation list of all the insurance companies to insurance business manager of the corporation. Later, because of company closures, the money will nothing. "In fact, they are not every entry will be a premium to the company's system."
Miss Chen, told reporters: "According to our insurance customer manager will be the guests of the age and location trips, the weather was selectively hide some of the insured or the insured list."
Peacetime accident more attention should be
Insurance policies will be no unexpected crowd called "Luoben crowd," then accident insurance policy is not better? » Reporter visited a number of insurance companies that this is not the case. This is because apart from the death of the insured amount, such as medical expenses are not repeated claims.
"Accident insurance coverage, you should be 10 times the income, if the insured in the family played the role of the breadwinner, even should take into account the role of its pillars, the corresponding increase the amount, if families have a common loan, Such as mortgage, the amount will be owed by the total amount of bank loans, so even if the insured have any accidents, because the family does not have to repay bank loans and to show to the auction house. "Allies an insurance agent People told reporters.
"In fact, the deductibles are also consumers and policy holders to buy accident Xianyao a reference standard." Sino-Italian Life Yang Jingli this remind you.
This reporter has learned that the insurance companies in order to avoid the risk of moral hazard insured, to prevent people from abusing the medical expenses, would normally require each 100 yuan or 200 yuan a deductible, only 100 yuan or 200 yuan more than the cost of claims only in proportion.
And a number of companies in order to reflect the spirit of humanity and increase customer satisfaction, the implementation of the "no-deductible, 100 percent reimbursement" of the claims system. At present, Sino-Italian life of worry-free music personal accident injury insurance, Lok accident insurance for children and young people grow up, in the Life of "The Joy Luck to" personal accident insurance, and China Life Insurance personal accident insurance are not deductible of accident insurance products .
State owned insurance products cheaper in foreign investment
State owned insurance companies to price products cheaper in the market, a significant advantage, but the people may have claims all know that if insurance companies more efficient claims will greatly enhance the company's policyholders recognition.
To travel to the European countries, the Schengen visa applications must be purchased outside the emergency function with the outside travel insurance, the insured amount to at least 30,000 euros to get a visa through.
For example, to the European countries, the travel time for 90 days, it was the accident-the death of 100,000 yuan and foreign emergency relief to 750,000 yuan, the premiums of foreign insurance companies in about 1,200 yuan, while insurance companies in the country-400 -600 Per month. Its rate gap will still be many people decide whether to buy a criteria for judging.
Even if the injury is the general insurance products of insurance companies than foreign funding of about 20 percent cheaper, such as: the death benefit accidents 100,000; accident-out-patient and hospitalization was 10,000, no deductible, 100% reimbursement; accident Disability levels by 10% -100% payment, the maximum 100,000.
China Life Insurance premiums for 280 yuan / year, and the Sino-Italian Life for 343 yuan / year, but Italy Life is a 6 per cent of the annual renewal incentives and the death of 3,000 yuan pension. "Comparison is a price, but is more suitable for him or not we need to consider." China Life! Told reporters.
Financial management division Zhenxiao: The United States Association of millions of round table (MDRT) for members of the Beijing branch of China Life Insurance Company, senior business manager
Proposed purchase of a one-year comprehensive accident insurance
Accidental injury refers to the so-called external, unexpected, unintended, non-disease bodily harm to the objective events. One accident insurance-accident injuries and two types of medical accidents, accidental injury is a result of accidents caused by the death and disability, such as: the transport of accidents, including the use of aircraft, trains, ships, and so on. Medical injury is a result of accidents arising out-patient clinics, hospital and surgical expenses reimbursed, as in the work and life in accidents, including burns burns, fractures, etc. sprain.
At present the choice of accident insurance is also a lot of ways, for example, in check before the purchase of Hang Yixian, tourism can be purchased at the short-term travel insurance, it costs very low, the yuan to several tens of dollars, so for those who often go out of People speaking several times to buy, 2001 Total cost is not down low.
Proposed purchase of a one-year consumer-oriented comprehensive accident insurance, an annual 100 to several hundred dollars, so the death of both the accident and disability protection have medical insurance, insurance contracts may also be family preservation, in case of accidents do not have to worry about not Claims. Since the accident can not predict, so for those who rarely go out to the crowd, is also a need to protect the accident. In the purchase of such insurance, the insurance should choose the formal institutions, to understand the insurance provisions of the specific responsibilities, to seek insurance contracts and invoices, each person according to their own economic strength, the combination of their own security needs, customized insurance professionals Programme, will be the most suitable for their own accident insurance has.
"Now we do the short-term moratorium on the sale of the Hang Yixian, so you can not provide these services." When a reporter at the Great Wall Life Support phones, so customer service representatives told reporters. At the same time, she also said: "when to resume sales of the product is still no definite answer."
According to reporter has learned that the short-term accident insurance products and the China Insurance Regulatory Commission recently to the sale of insurance products on the market rectification. According to a senior insurance industry, the current size of the insurance companies have pressure short-term accident insurance policies phenomenon, agents or outlets will be part of the policy in order to gain entry to the insurance company is not the system. The great efforts to rectify the China Insurance Regulatory Commission, has led to short-term accident insurance market norms lot.
Driver left to the interests of the insured risk
April 2007, the China Insurance Regulatory Commission had Hang Yixian sales market for the various diseases such as the introduction of the premium income to the full, timely and accurate accounting; fee expenditures must be promptly and accurately recorded, such as "insurance companies standardize aviation accident insurance The five criteria ".
"In fact, the crash of the small probability of more, ah, one of the 20 Hang Yixian money, if the bodies are packaged for sale, you see is a collective insurance alone, and not the real-name system." One insurance industry, told reporters . This is the short-term insurance corporation accident insurance policies of the so-called Maoni. Even if there's an accident, can also related to the operation of a reasonable settlement. "But now more and more difficult for the operation." The person said.
Hang Yixian, and short-term travel accident insurance companies in the insurance business may not account for an important position, but the clerk there have been welcome.
Dr. Wong is a state-owned assets, a senior insurance company clerk, several large travel agencies are her old customers. She always will be a lot of policies on these travel agencies, once a month to end accounts. A travel agency sales staff Mr. Cui told reporters: "In fact, many times, our customers are already starting, but they may not return receipt of insurance companies to be in our hands. Therefore, their insurance is not really recognized. "
Then, there will be no sales pressure will only fail to report the situation? » "It depends on the situation, we do not need to point interest to take the risk, but the insurance company clerk side of the operation is how we do not know." Mr. Cui told reporters.
And do the same travel product sales of Miss Chen told reporters that she has a collection of a client's premiums to the insurance company's failure to make timely, then the delegation list of all the insurance companies to insurance business manager of the corporation. Later, because of company closures, the money will nothing. "In fact, they are not every entry will be a premium to the company's system."
Miss Chen, told reporters: "According to our insurance customer manager will be the guests of the age and location trips, the weather was selectively hide some of the insured or the insured list."
Peacetime accident more attention should be
Insurance policies will be no unexpected crowd called "Luoben crowd," then accident insurance policy is not better? » Reporter visited a number of insurance companies that this is not the case. This is because apart from the death of the insured amount, such as medical expenses are not repeated claims.
"Accident insurance coverage, you should be 10 times the income, if the insured in the family played the role of the breadwinner, even should take into account the role of its pillars, the corresponding increase the amount, if families have a common loan, Such as mortgage, the amount will be owed by the total amount of bank loans, so even if the insured have any accidents, because the family does not have to repay bank loans and to show to the auction house. "Allies an insurance agent People told reporters.
"In fact, the deductibles are also consumers and policy holders to buy accident Xianyao a reference standard." Sino-Italian Life Yang Jingli this remind you.
This reporter has learned that the insurance companies in order to avoid the risk of moral hazard insured, to prevent people from abusing the medical expenses, would normally require each 100 yuan or 200 yuan a deductible, only 100 yuan or 200 yuan more than the cost of claims only in proportion.
And a number of companies in order to reflect the spirit of humanity and increase customer satisfaction, the implementation of the "no-deductible, 100 percent reimbursement" of the claims system. At present, Sino-Italian life of worry-free music personal accident injury insurance, Lok accident insurance for children and young people grow up, in the Life of "The Joy Luck to" personal accident insurance, and China Life Insurance personal accident insurance are not deductible of accident insurance products .
State owned insurance products cheaper in foreign investment
State owned insurance companies to price products cheaper in the market, a significant advantage, but the people may have claims all know that if insurance companies more efficient claims will greatly enhance the company's policyholders recognition.
To travel to the European countries, the Schengen visa applications must be purchased outside the emergency function with the outside travel insurance, the insured amount to at least 30,000 euros to get a visa through.
For example, to the European countries, the travel time for 90 days, it was the accident-the death of 100,000 yuan and foreign emergency relief to 750,000 yuan, the premiums of foreign insurance companies in about 1,200 yuan, while insurance companies in the country-400 -600 Per month. Its rate gap will still be many people decide whether to buy a criteria for judging.
Even if the injury is the general insurance products of insurance companies than foreign funding of about 20 percent cheaper, such as: the death benefit accidents 100,000; accident-out-patient and hospitalization was 10,000, no deductible, 100% reimbursement; accident Disability levels by 10% -100% payment, the maximum 100,000.
China Life Insurance premiums for 280 yuan / year, and the Sino-Italian Life for 343 yuan / year, but Italy Life is a 6 per cent of the annual renewal incentives and the death of 3,000 yuan pension. "Comparison is a price, but is more suitable for him or not we need to consider." China Life! Told reporters.
Financial management division Zhenxiao: The United States Association of millions of round table (MDRT) for members of the Beijing branch of China Life Insurance Company, senior business manager
Proposed purchase of a one-year comprehensive accident insurance
Accidental injury refers to the so-called external, unexpected, unintended, non-disease bodily harm to the objective events. One accident insurance-accident injuries and two types of medical accidents, accidental injury is a result of accidents caused by the death and disability, such as: the transport of accidents, including the use of aircraft, trains, ships, and so on. Medical injury is a result of accidents arising out-patient clinics, hospital and surgical expenses reimbursed, as in the work and life in accidents, including burns burns, fractures, etc. sprain.
At present the choice of accident insurance is also a lot of ways, for example, in check before the purchase of Hang Yixian, tourism can be purchased at the short-term travel insurance, it costs very low, the yuan to several tens of dollars, so for those who often go out of People speaking several times to buy, 2001 Total cost is not down low.
Proposed purchase of a one-year consumer-oriented comprehensive accident insurance, an annual 100 to several hundred dollars, so the death of both the accident and disability protection have medical insurance, insurance contracts may also be family preservation, in case of accidents do not have to worry about not Claims. Since the accident can not predict, so for those who rarely go out to the crowd, is also a need to protect the accident. In the purchase of such insurance, the insurance should choose the formal institutions, to understand the insurance provisions of the specific responsibilities, to seek insurance contracts and invoices, each person according to their own economic strength, the combination of their own security needs, customized insurance professionals Programme, will be the most suitable for their own accident insurance has.
Insurance Act Amendment Bill, the State Council approved in principle
On the 1st Chinese Premier Wen Jiabao chaired a State Council executive meeting discussed and approved in principle the "People's Republic of China Insurance Law (revised draft)", examined and approved in principle "the People's Republic of China Foreign Exchange Management (Amendment Bill)" and "the State Council on the operators to focus on Declaration of the provisions of the standard (Draft). "
The meeting held that in order to further regulate insurance companies conduct of operations, was to strengthen the protection of the interests of insurance, strengthen and improve the supervision of the insurance market, effectively preventing and defusing risks, and promote the healthy development of the insurance industry, there is a need for rapid development of China's insurance industry In the new situation and new problems, the existing Insurance Act be amended. Insurance Act Amendment Bill further defined the insurance activities of the parties the rights, obligations, the insurance industry self-regulation and the basic system requirements further added that the improvement and strengthening of the insurance regulatory agencies and regulatory responsibilities means that the corresponding legal responsibility. The meeting decided that the "People's Republic of China Insurance Law (Amendment Draft)" After further amendments, submitted by the State Council of the NPC Standing Committee to consider.
The meeting noted that the balance of payments situation in order to adapt to change and deepen foreign exchange management system reform needs, the need to revise the Foreign Exchange Management Regulations. Amendment Bill to facilitate trade and investment activities to promote the international balance of payments and the national economy and healthy development as the goal of a balanced management of foreign exchange inflow and outflow of funds, improve the RMB exchange rate formation mechanism and financial institutions, foreign exchange management system, the establishment of an international balance of payments emergency protection system And strengthening cross-border capital flows monitoring, and improve monitoring of foreign exchange and other means and measures to make the requirements and corresponding clear on the legal responsibility.
The meeting held that the operators through a merger or equity, assets and other means to control the other operators, such as operators focus on behavior has a direct bearing on the normal order of market competition. Control operators to focus on anti-monopoly law is important to establish a system. To prevent operators concentrated lead to the exclusion, restriction of market competition, there is a need based on China's reality, learn from international experience, operators focused on the development of reporting standards. According to the draft on the participation of operators on an annual global turnover and turnover in the two indicators, clearly provides operators focus on the declaration of standards. Operators concentrated up to the required standards, should advance to the State Council's departments in charge of reporting.
The meeting decided that "the People's Republic of China Foreign Exchange Management (Amendment Bill)" and "the State Council on the declaration of operators on the provisions of the standard (Draft)", as further amended, by the State Council for implementation.
The meeting held that in order to further regulate insurance companies conduct of operations, was to strengthen the protection of the interests of insurance, strengthen and improve the supervision of the insurance market, effectively preventing and defusing risks, and promote the healthy development of the insurance industry, there is a need for rapid development of China's insurance industry In the new situation and new problems, the existing Insurance Act be amended. Insurance Act Amendment Bill further defined the insurance activities of the parties the rights, obligations, the insurance industry self-regulation and the basic system requirements further added that the improvement and strengthening of the insurance regulatory agencies and regulatory responsibilities means that the corresponding legal responsibility. The meeting decided that the "People's Republic of China Insurance Law (Amendment Draft)" After further amendments, submitted by the State Council of the NPC Standing Committee to consider.
The meeting noted that the balance of payments situation in order to adapt to change and deepen foreign exchange management system reform needs, the need to revise the Foreign Exchange Management Regulations. Amendment Bill to facilitate trade and investment activities to promote the international balance of payments and the national economy and healthy development as the goal of a balanced management of foreign exchange inflow and outflow of funds, improve the RMB exchange rate formation mechanism and financial institutions, foreign exchange management system, the establishment of an international balance of payments emergency protection system And strengthening cross-border capital flows monitoring, and improve monitoring of foreign exchange and other means and measures to make the requirements and corresponding clear on the legal responsibility.
The meeting held that the operators through a merger or equity, assets and other means to control the other operators, such as operators focus on behavior has a direct bearing on the normal order of market competition. Control operators to focus on anti-monopoly law is important to establish a system. To prevent operators concentrated lead to the exclusion, restriction of market competition, there is a need based on China's reality, learn from international experience, operators focused on the development of reporting standards. According to the draft on the participation of operators on an annual global turnover and turnover in the two indicators, clearly provides operators focus on the declaration of standards. Operators concentrated up to the required standards, should advance to the State Council's departments in charge of reporting.
The meeting decided that "the People's Republic of China Foreign Exchange Management (Amendment Bill)" and "the State Council on the declaration of operators on the provisions of the standard (Draft)", as further amended, by the State Council for implementation.
Insurance companies to speed up the cloth
Since June, the China Insurance Regulatory Commission for approval Pa Hsin-cheng, Hai Kang, Jinsheng, and the sun, Wing-shing, and other 11 branches for the company. As market competition intensifies, insurance companies in the layout of an increasingly accelerated pace.
Joint venture life insurance company has been a major expansion of the body, to headquarters in Shanghai Hai Kang, Jinsheng, companies such as Haier New York, for example, through the respective branch offices or marketing services in the form of cloth, nearly 20 cities nationwide. Earlier, the author in a number of new joint-venture life insurance branch's opening ceremony, heard on "The company is headquartered in Shanghai have gathered effect, but the Shanghai market competition too intense, to the company's shareholders and the great pressure" Remarks. According to reports, some based in Shanghai, the joint venture company in Shanghai's performance may not be accounted for more than 20 percent, which also led to insurance companies must go out to Ersan Xian provinces and cities expand.
To the popular "cloth," Chengdu, for example, a joint venture company president said: "As the population in Southwest China's metropolis of more than 10 million, less than 300 yuan per capita in Life premiums, this city's life insurance market contains great potential. At the same time, in the western development environment, as the frontier city of Chengdu, will face a new round of development opportunity.
Joint venture life insurance company has been a major expansion of the body, to headquarters in Shanghai Hai Kang, Jinsheng, companies such as Haier New York, for example, through the respective branch offices or marketing services in the form of cloth, nearly 20 cities nationwide. Earlier, the author in a number of new joint-venture life insurance branch's opening ceremony, heard on "The company is headquartered in Shanghai have gathered effect, but the Shanghai market competition too intense, to the company's shareholders and the great pressure" Remarks. According to reports, some based in Shanghai, the joint venture company in Shanghai's performance may not be accounted for more than 20 percent, which also led to insurance companies must go out to Ersan Xian provinces and cities expand.
To the popular "cloth," Chengdu, for example, a joint venture company president said: "As the population in Southwest China's metropolis of more than 10 million, less than 300 yuan per capita in Life premiums, this city's life insurance market contains great potential. At the same time, in the western development environment, as the frontier city of Chengdu, will face a new round of development opportunity.
Subscribe to:
Posts (Atom)