Insurance Company: First half of the year estimated profit growth of 98%

This year, the face of a severe and complex international and domestic environment, the industry firmly grasp the initiative of the insurance work.　　Overall, the first half of the insurance industry to achieve a better risk-prevention, structural adjustment, stable growth goals, the situation is better than expected at the beginning of the year. The overall market operation is stable. The first half of the year, the national income insurance premiums 598.61 billion yuan, an increase of 6.6%. Compensation and payment of 160.81 billion yuan, an increase of 4.2%.　　As at the end of June, the total assets of the insurer were 3.7 trillion yuan, which grew by 10.9%. Property insurance business has risen steadily. The first half of the year, the property insurance business to achieve the premium income of 151.18 billion yuan, an increase of 16.4%, an increase of 4.4% than the first quarter.　　Among them, the insurance business to achieve a premium income of 111.11 billion yuan, an increase of 18.3%, the increase is 3.1% higher than the first quarter. Personal insurance business growth has fallen. In the first half, the personal insurance business to achieve a premium income of 447.43 billion yuan, an increase of 3.6%, an increase of 5.8% from the first quarter, investment-type business since the rapid growth of the situation has been controlled.　　In the first half of the year, although the growth rate of personal insurance fell, but this increase in the difficult situation and the base was large, and the initiative of the restructuring of the case, the life insurance Company's business quality, connotation value and sustainable management ability to be promoted. Asset allocation is more robust. As at the end of June, the balance of funds used by insurance companies was 3.4 trillion yuan, an increase of 10.4%. Among them, bond investment accounted for 50.2%, down 7.7% from the beginning of the year, bank deposits accounted for 31%, increased by 4.5% at the beginning of the year, equity and equity investment accounted for 9.8%, compared with 1.9% in the early year;　　Increased by 1.4% per cent at the beginning of the year; Operating efficiency gradually increased. The first half of the year, the insurer estimated total profit of 26.1 billion yuan, an increase of 98%. There are 11 insurance companies that have insured profits, up from 3 in the same period last year, and 3 more in profit insurance. The total profit of reinsurance company is estimated to increase 6.83 billion yuan.　　The use of insurance funds 109.97 billion yuan, better than the same period last year. Structural adjustment is progressing steadily. In the first half, the CIRC has actively promoted the restructuring of the industry through policy guidance and market regulation. Issued "on speeding up the adjustment of business structure to further play the role of insurance security guidance," leading the industry to vigorously develop risk-oriented and long-term savings-oriented business. Strengthen the market dynamic monitoring and analysis, establish the main company's business structure to adjust the monthly reporting system, timely grasp the structure adjustment trends.　　Strengthen product review, focus on review of insurance liability, liability exemption, sustained bonuses, minimum guaranteed interest rates and other major risk points, through strengthening product management to promote structural adjustment. The adjustment of insurance business structure has achieved positive results. From the view of property insurance, the company basically discontinued the Non-life insurance investment business, the investment balance was reduced by 29.75 billion yuan at the beginning of the year, home insurance, engineering insurance, agricultural insurance and other businessRapid development, year-on-year growth of 12.9%, 23.6% and 59.8% respectively. From the perspective of personal insurance, standard premiums rose 17.9% year-on-year, higher than the scale of the premium rate of 14.3%;　　The proportion of Jin Ying single premiums increased by 6.5% in the same period last year, of which 5-10-year new single-phase pay premiums increased by 15.4% in the same period last year, and personal agent business grew 14.5%, representing a year-on-year increase of 4.3% per cent. The market order continues to improve.　　In accordance with the unified deployment at the beginning of the year, the regulatory body of the heavy, serious, and effectively increase the standard market order. strengthen on-site inspection. Organize the insurance company to carry out the data authenticity self-examination work, according to the self-examination situation, selects the key company to carry on the On-the-spot inspection. According to the operation of insurance market and the outstanding problems reflected in various aspects, it is organized to carry out on-site inspection.　　In the first half of the year, the insurance regulator sent 1014 inspection teams and 3670 people to inspect the site of 467 institutions, 317 life insurance agencies and 229 intermediary agencies. To increase the supervision of the corporate body. To improve the supervision institutions to attend the company's board of Directors, shareholders meeting system, in-depth understanding of the company. Timely to the problem company to carry out inquiries and risk tips, the first half of the total to the insurance company issued a supervision letter 215. At the same time, the company's relevant situation to the company shareholders, independent directors and supervisors, to strengthen the company's investors to head office executives control.　　Strengthen the disclosure of regulatory information to enhance the external constraints of the company's operations. To investigate and punish violations according to law. The insurance company basic data untrue and not strictly carry out the approval of the provisions of the rates, and the use of intermediary agencies falsely open invoices, illegally take funds and other illegal acts, serious investigation and punishment. The first half, the total punishment of illegal institutions 424 times, a fine of 21.65 million yuan, dealing with the responsible person 402 people, which ordered to replace 46 people.　　With the public security departments successfully cracked individual intermediary agencies suspected of illegal business cases. From the first half of the situation, the insurance market order continues to improve. The main indicators that reflect the standard operation of the production insurance companies are gradually improved. In the first half of the year, the insurance companies rate 9%, down 1.3%. Receivable rate of 7.2%, down 4.1%, in particular, insurance premiums should be charged 1.4%, down 6%, see the single effect of the bill began to appear. The sales behavior of life insurance companies is gradually regulated, and sales misleading is partly contained. Data authenticity is further improved.　　The phenomenon of the illegal batch refund, the sticker fee and so on has been reduced, and the authenticity of the expenses is increasing. Insurance risk is effectively prevented. In the face of complex and changeable economic and financial situation, the supervision institutions put the risk prevention work in a prominent position, effectively guard against the risk of insurance market and maintain the stable and healthy development of the industry.　　From the current situation, although the international financial crisis to the insurance industry has a certain impact, but the overall solvency of the insurance sector, financial and operational soundness, the industry risks are effectively prevented. Enhance risk early warning and monitoring. Insurance Regulatory Commission in time tracking researchInvestigate the impact of the international financial crisis, the insurance company to carry out internal control evaluation and risk specific investigation. Grasp the key companies, key channels and key products, strengthen the monitoring of the situation of surrender. It has formulated a batch of risk contingency plans, such as abnormal retreat, foreign shareholders selling shares of Chinese insurance companies, and improved the supervision and coordination mechanism with domestic and overseas financial supervision institutions.　　Timely adjust insurance investment policy, strengthen the window guidance, strengthen supervision and inspection, prevent the use of funds risk. To increase the solvency of the company's oversight efforts. We urge insurance companies to strengthen solvency management, improve solvency by controlling business scale, reducing operating costs, issuing subordinated debt, increasing capital and expanding shares.　　By the end of June, the solvency level of insurers had been reduced by 2 over the beginning of the year and the solvency levels of most substandard companies had gradually improved. Strengthen the supervision of key companies. According to the requirements of classification supervision, a comprehensive inspection is carried out on some key concerns of the company. Guide the company to do a good job in predicting the peak of maturity and fund arrangement to prevent the risk of cash flow. On the part of the focus on the company to carry out special on-site inspection, to prevent the company's imperfect governance and employee equity disputes and other factors caused by the risk.　　Carry out risk self-examination of insurance Group company. The service sector continues to widen.　　In accordance with the 10 measures adopted by the State to further expand domestic demand and promote economic growth, as well as some opinions on financial promotion of economic development, the CIRC actively directs insurance companies to play the role of insurance, continuously enhancing the ability of the insurance industry to serve the economy and society, and to maintain stable and rapid economic growth. Actively develop "three rural" insurance. We should steadily promote the development of policy-agriculture insurance and actively develop rural small-scale insurance. In the first half of the year, agricultural insurance covers all kinds of crops 350 million acres, insured farmers 61.52 million households, bear the farming industry, aquaculture risk responsibility of 143.65 billion yuan, cumulative pay 3.41 billion yuan.　　The pilot area for rural small personal insurance has expanded from 9 provinces to 19 last year, adding 3.71 million people to the population. steadily develop liability insurance. Actively promote the development of liability insurance in the areas of product quality, environmental pollution and safety production.　　The first half of the liability insurance to achieve a premium income of 5.19 billion yuan, an increase of 8%. Vigorously develop commercial endowment insurance and health insurance. Push forward the personal tax deferred pension insurance pilot, the development of personal, Group endowment insurance business.　　Earnestly carry out the "opinion on deepening the reform of medical and health system", and promote the insurance industry to participate in the basic medical insurance management services. Develop credit and guarantee insurance to promote domestic and foreign trade. Earnestly implement the 66th meeting of the State Council spirit, innovative product services, increase underwriting efforts, reduce the premium rate, and actively improve the coverage of export credit insurance. The first half of the year, export credit insurance coverage of 24.61 billion U.S. dollars, accounting for the same period of China's general trade exports of 10.5%, compared to the 2008 increase of 4%. Actively start policy pledge loan business, in order to alleviate the small and Medium Enterprises fund turnover difficult service.　　Steady development of housing and automotive consumer Credit guarantee insurance. PlayThe Fund financing function of insurance, promote investment. The insurance institutions are allowed to invest in infrastructure projects in the form of claims, focusing on 10 measures to expand domestic demand in the State Council, with emphasis on investment in infrastructure projects such as transportation, communications and energy. By the end of June, the insurer had invested 74.95 billion yuan in the infrastructure balance, an increase of $21 billion over the beginning of this year.