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."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment