Huatai Securities Luo Yi never misread the policy of universal insurance is not a static withdrawal jessica rabbit

Huatai Securities Luo Yi: never misread the policy of universal insurance is not static withdrawal A shares of sina finance App: Live on-line blogger to tutor to help stocks masters 20 years of experience in short veteran Jiepan do not misread the renewal of product adjustment, universal insurance funds from the stock market is not static for the recent adjustment of the CIRC in short duration a comprehensive personal product, the media said there will be 600 billion yuan for universal insurance withdrawal of A shares, and this statement is inaccurate and too one-sided. First, the adjustment is not across the board. According to the provisions of the insurance company in the adjustment, short annual premium income in the renewal of product control company invested capital less than 2 times, and given a buffer period, in the next 4 years respectively accounted for 90% of the amount, to 70%, 50%, 30%. And this part of the adjustment of the short deposit renewal insurance products will be undertaken by the new compliance insurance products. Emphasis on product design rather than blocking universal insurance. Adjustment will be from the universal insurance account management, refund premiums, life insurance scheduled interest rates, annuities and other forms of development. Is not a barrier to universal insurance, but stressed that the protection of insurance attributes. At present, China’s universal insurance accounted for 31%, while the United States accounted for more than 40% of the term structure adjustment is the key. The purpose is to prevent the risk, to prevent short-term long-term investment, asset liability insurance, the insurance is stressed several important aspects of adjustment: 1 life insurance policy guarantee the cumulative amount of not less than 200% of the value of the accounts, according to the 2 universal insurance risk protection cost additional risk premium; 3 surrender charges 3 years before May 0; 4 the scheduled interest rate of more than 3% people, 3.45% of the life insurance annuity submitted to the CIRC for approval. This is emphasized in the insurance industry, Paul word for the first, will be forced to high interest rates as a selling point of the small and medium insurance companies to adjust the debt structure, increase the weight of the dead difference. On the other hand, will prevent spread and surrender to focus the cash flow from the risk of a run. At the same time, adjust the debt maturity structure to prevent the long term investment, reduce asset liability mismatch risk. Insurance funds will continue to be an important participant in the capital market according to the report in the calculation of pipe depth of insurance capital before us premium income will reach 5 trillion yuan in 2020, a compound annual growth rate of 16%, the corresponding investment funds in 2020 was about 22 trillion yuan. According to the regulation of insurance funds to give 30% of the upper limit of equity investment, the cumulative amount of equity investment of up to $6 trillion and 600 billion. Even if the proportion of 14% to maintain the current prudent equity investment, the cumulative amount of equity investment will reach $3 trillion and 100 billion. As of July this year, the proportion of China’s insurance fund investment accounted for only 1 trillion and 700 billion yuan, equity dynamic space of up to $1 trillion and 400 billion – $4 trillion and 900 billion. Regulators in the previous meeting also pointed out that the insurance should be actively involved in the construction of multi-level capital market, a variety of forms to promote the direct investment of insurance funds. At present, the insurance company is the second largest shareholder of the stock market after the fund company, the largest institutional investors in mutual funds, insurance investment funds will continue to be the backbone of the equity market. Release the front end of the pipe is good, the industry is recommended to configure the allocation of high-quality insurance companies to monitor this year相关的主题文章: