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惠誉:销售保障型产品的公司从中国保险新规中受益最大
May 8, 2017 / 3:56 AM / 4 months ago

惠誉:销售保障型产品的公司从中国保险新规中受益最大

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: China Life Insurance Regulation Progressing here HONG KONG, May 07 (Fitch) 本文章英文原文最初于2017年4月21日发布于:<a href="https://www.fitchratings.com/site/pr/1022731">Fitch: Protection Sellers Benefitting from Chinese Insurance Regs 惠誉评级在最新一份报告中称,在近期中国寿险监管规定的进展中,销售保障型产品的保险公司受益最大。 惠誉认为,2017年寿险市场总体保费增长将会放缓,因为新的监管规定限制中短存续期产品的销售。监管规定促使保险公司改善其产品期限结构,主要销售中短存续期产品的保险 公司将面临保费收入大幅下降和潜在的流动性风险。 中国风险导向偿付能力体系(偿二代)下的内含价值新规进一步区分了不同种类产品的价值,并鼓励保险公司增加长期的保障型产品的销售,以更好地实现价值增长。以销售保障型产 品为主的大型寿险公司的内含价值和新业务价值有所增长,因为利润释放较早。而主要销售保障成分较少的万能险的保险公司,内含价值和新业务价值则降低。 准备金贴现率基础利率曲线上调,这有助于缓和在当前低利率环境下长期传统型产品所需要的准备金。同时,在准备金贴现率综合溢价中引入逆周期因素,将会降低利率波动时准备金 的波动性。 惠誉认为,降低股权投资上限的监管要求抑制了保险公司采取“资产驱动型”的业务模式,并帮助保险公司避免潜在的利差损和资产-负债久期错配带来的风险。总体而言,由于股权 投资占比较低,新的监管规定对整个行业的影响较温和。 本报告《中国寿险监管规定进展:销售保障型产品的公司受益最大》请参见<a href="https://www.fitchratings.com">www.fitchratings.com或点击本新闻稿上方链接。 联系人: Mia Yang(杨敏) 分析师 +852 2263 9959 惠誉国际评级有限公司 香港中环德辅道中68号 万宜大厦19楼 Joyce Huang(黄佳琪) 董事 +852 2263 9595 Terrence Wong(王长泰) 董事 +852 2263 9920 Media Relations: Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com; Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. 详情参见<a href="https://www.fitchratings.com">www.fitchratings.com 注意:本新闻稿为中文译本。如有疑问,请以英文版本为准。 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. 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