China life denies participation in bid for AIA

China Life (601628) Chairman Chao 26th in the interim results of the meeting, said that the current Chinese insurance is not involved in AIG's AIA 30% stake in the bid. For the Chou with 1,242,862,000,000 yuan investment assets, how to configure becomes the focus.　　Chou Vice President Liu Jiade said that the second half of the fund allocation body is still in the fixed income investment, but the stock market still has the opportunity to strengthen the band-type operation, the stock and funds to adopt flexible allocation strategy.　　For the solvency ratio from 303% at the beginning of the year to the end of the 217.2%, Liu Jia explained, mainly in the first half of the stock market fell and business expansion of capital consumption led to a decline in the adequacy rate, but is still the minimum regulatory requirements of more than twice times, the country life in the future for some time Stock market to strengthen the operation of the recent market, China Life will join the ICBC, Xinda assets, such as the formation of a Chinese consortium to participate in AIA shares bid. In this regard, Chao said, as early as in 2008, AIG executives on the sale of AIA shares, and China Life has had discussions. But China Life has publicly said in early 2009 that it is abandoning its bid for an AIA stake. So far, no more contacts have been made with AIG executives.　　Whether China Life is involved in AIA's IPO in Hong Kong will be decided after careful study of AIA's terms of release and pricing mechanism.　　At the beginning of August, AIG, with the help of Goldman Sachs, the financial advisor, summoned investors to bid for a 30% stake in AIA, which was initially valued at around $10 billion trillion, which would be an important capital operation before the AIA Hong Kong listing. Chinese longevity in the first half of the homeopathy, equity assets significantly reduced more than 40 billion yuan, equity assets of the proportion of 11.15%, the reduction is far more than has been announced in China's peace, the operation strategy is very successful, and China's Ping an total investment income down 25.6% compared to the Chinese longevity investment income fell by 4.3%　　, the total investment yield is 2.51%, above the industry average of 1.93%. For the second half of the investment direction, Liu Jiade said that the second half of the debt market, the low rate of return, bond allocation exists pressure, from the deposit situation, the first half of the year because of the higher demand for funds to drive the demand for the agreement deposit, but the second half of this demand will shrink.　　From the equity investment Market situation, the second half of the year may continue to maintain the pattern of vibration finishing. In this respect, Chou will still put the allocation of funds on fixed income investment assets, the bond and time deposits between the corresponding adjustment and asset allocation.　　In the equity investment, the second half of the focus is on the pace of investment to seize some opportunities, especially in the band-type operation should be intensified, in the stock investment and fund investment should maintain a flexible strategy. The second half of the new business more quality than in the first half of China's new business value growth of 43.9%, business quality significantly improve the situation, the first half of the new business value growth slightly less than the year-on-year growth of 10.9%. In this respect, China Life Chief actuary Shaohui said that this is mainly due to the different business strategy caused. China Life has increased its business adjustment since the fourth quarter of 2008, focused on the 10-year business development, continued the strategy in the first half of 2009, so the new business value growth faster, since the second half of 2009, began to focus on scale growth, consolidate market share, the first half of 2010 still focus on large-scale,　　As a result, new business value growth has been slightly lower in the context of last year's high base, but with the emphasis on business quality in the second half, the value of new business will grow at a higher level.　　According to Wan Feng, president of China Life, China Life is in the absolute leading position in the personal insurance market, which dominates 32 large and medium-sized cities nationwide. Wan Feng said that after the implementation of the new guidelines, China's mainland market is undergoing new changes, because the recognition of the scale of premiums has changed, so, across the industry, in various cities, provinces to say the pattern is changing significantly.