Chairman of CIRC Dingfu: Excess 2 trillion insurance funds face the pressure of allocation

BEIJING, July 19 (Xinhua Gang) Chairman of the CIRC Dingfu recently pointed out that this year, more than 2 trillion yuan is expected to face the allocation of insurance funds pressure.　　The second half of the year to use the supervision of funds as a key link to prevent risk. Dingfu in the first half of the 2010-Year Insurance Supervision Working conference made the above remarks.　　He said that this year's new premiums and maturing reinvestment funds increased faster, is expected to exceed 2 trillion yuan, and the higher the premium, insurance assets face a large allocation pressure. The outside world has been concerned about when to further expand the investment channels of insurance funds. The insurance market is fiercely competitive and the policy acquisition cost is high, so the insurance company relies heavily on the investment income. Dingfu said that with the expansion of insurance assets and the gradual broadening of investment channels, the investment instruments of insurance institutions increased and the number of counterparties increased, which made higher demands on preventing investment risks.　　The insurance regulatory body will strengthen the supervision of the matching of insurance company's assets and liabilities.　　Dingfu said that although China's macro-economy has maintained a good momentum of recovery, but the current domestic and foreign economic situation is still extremely complex, the severity of the impact of the international financial crisis and economic recovery more tortuous than people expect, the development of the insurance industry is facing greater challenges. According to the data provided by the CIRC today, the insurance company achieves 75.52 billion yuan in the utilization of funds, and the return on investment is 1.93%.　　There are still 9 insurers that do not meet their solvency standards. Dingfu said that for those companies that did not meet the solvency limit, they would strengthen the rigidity of capital and solvency by restricting the scope and size of the business, restricting the establishment of branches, restricting shareholder dividends and reducing executive pay, and ordering time-limited rectification. At the same time, we should speed up the risk management of the problem companies and prevent the Cross-border financial risks from being transferred to our insurance market.