Heavy! Yin Zhaojun may be promoted to Chairman of China Taiping

Yin Zhaojun, vice chairman and general manager of China Taiping Insurance Group, may be promoted to the group's chairman.

Currently, senior management leaders shown on China Taiping's official website also include: Li Kedong, executive director and deputy general manager; Zhu Jie, Zhao Feng, and Yang Minggang; senior managers Jiao Yanjun; board secretary and head of finance Zhang Ruohan; and business director Li Qingming. (Frontline of finance)

The expansion of the “sixth insurance” of social security is about to be launched. How to follow the path of commercial long-term care insurance?

Long-term care insurance extensions have been proposed many times! Currently, long-term care insurance is at a critical juncture from partial pilots to comprehensive promotion. Recently, the official WeChat account of the National Health Insurance Administration published the column “Call for the Social Security “Sixth Insurance” long-term care insurance system to be introduced as soon as possible. Also recently, the official website of the National Health Insurance Administration set up a “Long-term Care Insurance” column.

Experts suggest that insurance companies should continue to promote the development and upgrading of commercial long-term care insurance products. In terms of product supply, insurance companies should design diversified commercial long-term care insurance products according to market demand and consumer preferences, including different coverage, coverage periods and payment methods, etc., to meet the individual needs of different consumers. (Beijing Commercial Daily)

Insurance capital is intensively researching listed companies and is optimistic about the medium- to long-term allocation value of the market

As of December 2, 196 insurance institutions have conducted more than 0.02 million surveys on 1,911 listed companies since this year. The number of surveys and research intensity are significantly higher than in the past few years.

According to comprehensive professional analysis, looking ahead to 2025, insurance funds will adhere to the overall investment idea of “stable basic allocation and excellent risk assets”: on the one hand, equity investment will adhere to balanced styles and diversified strategies to grasp the rhythm of high-dividend stock allocation; on the other hand, fixed income investment will continue to steadily allocate ultra-long-term interest rate bonds and actively explore opportunities for high-quality credit type allocation. (Shanghai Securities Journal)

New financial reinsurance regulations issued: reflect the principle of “first aid does not save the poor”, and whitewashing statements is prohibited

Recently, the State Financial Supervisory Administration issued the “Notice on Improving the Supervision of Financial Reinsurance”, which clearly stipulates the contractual conduct of financial reinsurance, the responsibilities of relevant parties, usage thresholds, and the setting of upper limits for improving solvency indicators.

The “Notice” stipulates that the comprehensive solvency adequacy ratio directly improved by financial reinsurance branch companies through the total existence of valid financial reinsurance contracts shall not exceed 30 percentage points, and the excess portion shall not be approved. At the same time, a three-year rectification period has been granted to some insurance companies that have major difficulties in rectification. (21st Century Economic Report)

Solvency attacks and defenses, 11 insurers raised nearly 100 billion yuan in bonds during the year

Since this year, 11 insurance companies have issued nearly 100 billion yuan of bonds to supplement capital. Strong demand from insurance companies to issue bonds to supplement capital is related to the implementation of the “Repayment II Phase II” project. “Repayment II” requires further consolidation of capital quality, and insurance companies' core solvency adequacy ratios and comprehensive solvency adequacy ratios have all declined to varying degrees.

The McKinsey report points out that although the “repayment for two generations” rule has played a positive role in consolidating capital quality and optimizing capital risk measurement, it has also brought major adjustments to the capital management of insurance companies. In particular, in the current environment where interest rates are falling and the investment market is fluctuating, the contradictions in insurance companies' capital management are even more prominent. (21st Century Economic Report)