Test of country life safe surrender tide CPIC Big Three reached 37.9 billion gold surrender
Test of the first three quarters of this year surrender tide China Life, Ping, CPIC Big Three
Significant increase in the surrender value life insurance 2011, Zhao was the development of the difficult situation.
As of the end of October, A-share listed three insurance companies have released third-quarter earnings. Analysis can be found in the three quarterly, China Life, Ping An, China Pacific Insurance Although the three listed insurance companies premium income growth, but the surrender grew faster. The first three quarters of the companies total surrender payments from $ 37.9 billion over the same period last year jumped 50.79%.
In addition to the surge in the number of applications for surrender, the delay is difficult to break through banking channels to bring down the premium large number of companies also make it difficult retreat, with small and medium sized insurance company had to brace for “the end of sprint,” human and material resources over early release will most likely affect next year’s grand opening performance.
Surrender rate continues to rise support fashion shuai ziwei blog
This year, the premium growth slowdown and surrender has become an industry problem.
First three quarters of 2011, the Big Three’s surrender payments totaling up to 37.9 billion yuan, an increase of more than 60%. Among them, the first three quarters of China Life surrender gold 27.649 billion yuan, an increase of 43.9% in the first three quarters of surrender ratio of expenses to premium income of 7.5% from the same period last year rose to 10.5%; the first three quarters of China Pacific Insurance surrender Kim was 70.6 billion yuan, up 117% in the third quarter of surrender rate in the second quarter rose 6.85% to 10.1%; the first three quarters of China’s Ping An surrender gold to 31.9 billion yuan, an increase of nearly 20%.
From the industry point of view, Insurance Regulatory Commission Vice Chairman Chen said in public meetings, January to September this year, life insurance surrender rate of 3.14%, which increased year on year data is 0.96 percentage point. By the old method of calculation, amounted to 135.82 billion yuan surrender, an increase of 73.8%. Among them, the greatest impact by raising interest rates is the financial side of investment-type insurance products, bank and insurance channels available in the majority of this type.
“Investment than an investment-oriented insurance products security function, but now the product is too low investment interest rates.” In the universal insurance rates up to 5.6% of a purchase of a universal insurance policyholders in that. He did not surrender, but for the suspension of payment.
Surrender surge caused by many reasons, in addition to prohibiting insurance companies, bank and insurance resident sold the New Deal, the most direct result of changes in capital markets than the poor investment returns, the investment decline in dividend yield insurance products, some are very concerned about the investment income customers to choose surrender.
“Good start” early release?
Year-end inventory is approaching, grad. According to usual practice, most life insurance companies have completed a year in November, sales plan, while the annual premium will be there at the end of sprint tasks, but the whole focus is not in this, life insurance companies prefer the first quarter of next year Rachael The game there blog“good start” instead allocate more resources to the fourth quarter of the year rushed premiums.
This year is some variation, is very dependent on the number of bank and insurance channels of small and medium sized companies, do not force them to look good results table can not be ignored by the end of sprint.
A national life insurance company insiders said the company since September and down a tense atmosphere, the task this year than in previous years premiums increased by 30% or more, but always rely on the bank and insurance channels of slugish growth, the premium has completed the task in less than seven percent.
Currently no national insurance company statistics task completion. Compared to small and medium sized insurance companies, large insurance companies is relatively better than the day, the three listed insurance companies have achieved a certain level of premium growth.
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