Country life: to make stable advancement of overseas amalgamations and acquisitions
Insurance businesses in 2008 the first annual report issued yesterday, income has shrunk substantially. March 26, China Life was held in Beijing in 2008 the functioning outcomes of the annual seminar, in Hong Kong accounting standards-based presentation report displayed that as at December 31, 2008, China Life's total buying into earnings of 30.24 billion yuan more than 2007 was down 61.4 percent; snare earnings of 21.28 billion yuan, comprising a 45.3 per hundred down turn in 2007. Solvency in 2007 from 525% to 310%.
Decline in net profit affected by many factors
Not faultless but for as early as the looked frontwards to profitability of, China Life Chairman Yang Chao said in the group debate, as a effect of the first half of the nation in 2008 for the South qualified a calamity and frigid precipitation and blizzard "5.12" Wen chun large earthquakes, and are hardly ever observed in the second half of the global fiscal critical purpose, making the performance of the development of China Life is looking at unprecedented challenges. As of the end of 2008, China Life Insurance to pay a total of 11.916 million yuan recompense snowstorm, earthquake to pay a total of about 153 million claims; At the matching time, modification of monetary and loan guideline, exchange rates, modifications in interest rates, the cost of element costs fetched about by modifications to their varying academic achievement of impact.
As for the sharp decline in solvency, vice president of China Life Insurance Analysis Tak Liu pointed out that the depth of capital markets led to lower investment asset values have dropped sharply recognized and the rapid development of the company's business is the main reason for the decline in solvency.
It was furthermore presented in 2008 a gigantic shock to worldwide capital markets, China Life Insurance is not buying into, and sub-loan urgent position is exactly associated to the offshore bonds, equities and derivatives.
Modest buying into in overseas
As can be glimpsed from the report in 2008, China Life's buying into portfolio has altered substantially, which assertions buying into anecdotes for 61.4% equity buying into in 2007 from 23% to 8%. In the face of economic urgent position, the homeland life in time to adapt the buying into strategy. Germany, as asserted by Liu, the 2008 increment of the major assets in fixed-income share of species, encompassing infrastructure designs, for example assertions, but furthermore to respect some of the privileges and concerns of timely buying into earnings class, but furthermore slash interest rates before the boost of bank down payments and bond-type configuration. Nevertheless, the total buying into earnings was only 3.4%, and in 2007 was as high as 10.24%.
Investment strategy for 2009, Liu said Germany would adhere to the fixed-income assets based investment strategy, at the same time will more closely supervise the management of the new investment channels open to find, such as investment in infrastructure, invest in unsecured bonds, real estate investment, private equity investment opportunities for the new configuration. "We will seek a better level of investment income to make up for in 2009 will face pressure on profits."
Tak Liu told reporters that China Life would seize the new "Insurance Law" to broaden investment channels of insurance companies this beneficial opportunity, especially for real estate investment and infrastructure investment is very welcome.
The report cited that in the overseas buying into, will dynamically impel ahead the sound of overseas amalgamations and acquisitions and equity investments. Prior to this, China Life Insurance has broadcast it was forsaking a tender for AIG assets in Asia, Yang Chao in response to a reporter's inquiry, said that overseas buying into is the buying into firm China Life Insurance main heading, stop the AIA (AIA), does not signify that overseas buying into is no longer China Life will do a good job in the household market on the cornerstone of an befitting buying into overseas. Has now built up many of buying into tasks, the ongoing study in depth. At the identical time, the recorded business China Life has yet to strategic investors, wanting to find symmetric Yang Chao worldwide strategic investors, but furthermore need time and careful.
Unexpected advance in premiums
Sharp fall contrasted to a earnings of China Life in 2008 premium development was unforeseen, particularly in the Bancassurance conduit growth.
The report presentations that in 2008 the primary indemnity bond premiums of 295.579 billion yuan of wages than the matching interval in 2007 developed 50.33%. "This expansion rate highly exceeded the allocation of the Board of Directors distributed last year, the objective is 8% -10%." Chao said such expansion, chiefly in the Banking and Insurance paths due to the every part of market surroundings impact. He accommodated that for such combined effects, because the bulk of profits is bright wholesale indemnity to pay, not wholly in retaining with the development approach of China Life location, but can not cease the channel.
Therefore, China Life has been aimed at in 2009 in alignment to accomplish a glossy scale of enterprise development, change of enterprise structure, to guard against operational dangers to determination business-oriented development strategy. Pay vigilance to the enterprise to evolve long-term time span, risk-based enterprise, as well as individual protection principles mostly to pay the operational stage dispersion. According to the briefing, the company's protection universal rudimentary moratorium on the sale in 2009, and the cast fundamentally did not even dangerous. - 21396
Decline in net profit affected by many factors
Not faultless but for as early as the looked frontwards to profitability of, China Life Chairman Yang Chao said in the group debate, as a effect of the first half of the nation in 2008 for the South qualified a calamity and frigid precipitation and blizzard "5.12" Wen chun large earthquakes, and are hardly ever observed in the second half of the global fiscal critical purpose, making the performance of the development of China Life is looking at unprecedented challenges. As of the end of 2008, China Life Insurance to pay a total of 11.916 million yuan recompense snowstorm, earthquake to pay a total of about 153 million claims; At the matching time, modification of monetary and loan guideline, exchange rates, modifications in interest rates, the cost of element costs fetched about by modifications to their varying academic achievement of impact.
As for the sharp decline in solvency, vice president of China Life Insurance Analysis Tak Liu pointed out that the depth of capital markets led to lower investment asset values have dropped sharply recognized and the rapid development of the company's business is the main reason for the decline in solvency.
It was furthermore presented in 2008 a gigantic shock to worldwide capital markets, China Life Insurance is not buying into, and sub-loan urgent position is exactly associated to the offshore bonds, equities and derivatives.
Modest buying into in overseas
As can be glimpsed from the report in 2008, China Life's buying into portfolio has altered substantially, which assertions buying into anecdotes for 61.4% equity buying into in 2007 from 23% to 8%. In the face of economic urgent position, the homeland life in time to adapt the buying into strategy. Germany, as asserted by Liu, the 2008 increment of the major assets in fixed-income share of species, encompassing infrastructure designs, for example assertions, but furthermore to respect some of the privileges and concerns of timely buying into earnings class, but furthermore slash interest rates before the boost of bank down payments and bond-type configuration. Nevertheless, the total buying into earnings was only 3.4%, and in 2007 was as high as 10.24%.
Investment strategy for 2009, Liu said Germany would adhere to the fixed-income assets based investment strategy, at the same time will more closely supervise the management of the new investment channels open to find, such as investment in infrastructure, invest in unsecured bonds, real estate investment, private equity investment opportunities for the new configuration. "We will seek a better level of investment income to make up for in 2009 will face pressure on profits."
Tak Liu told reporters that China Life would seize the new "Insurance Law" to broaden investment channels of insurance companies this beneficial opportunity, especially for real estate investment and infrastructure investment is very welcome.
The report cited that in the overseas buying into, will dynamically impel ahead the sound of overseas amalgamations and acquisitions and equity investments. Prior to this, China Life Insurance has broadcast it was forsaking a tender for AIG assets in Asia, Yang Chao in response to a reporter's inquiry, said that overseas buying into is the buying into firm China Life Insurance main heading, stop the AIA (AIA), does not signify that overseas buying into is no longer China Life will do a good job in the household market on the cornerstone of an befitting buying into overseas. Has now built up many of buying into tasks, the ongoing study in depth. At the identical time, the recorded business China Life has yet to strategic investors, wanting to find symmetric Yang Chao worldwide strategic investors, but furthermore need time and careful.
Unexpected advance in premiums
Sharp fall contrasted to a earnings of China Life in 2008 premium development was unforeseen, particularly in the Bancassurance conduit growth.
The report presentations that in 2008 the primary indemnity bond premiums of 295.579 billion yuan of wages than the matching interval in 2007 developed 50.33%. "This expansion rate highly exceeded the allocation of the Board of Directors distributed last year, the objective is 8% -10%." Chao said such expansion, chiefly in the Banking and Insurance paths due to the every part of market surroundings impact. He accommodated that for such combined effects, because the bulk of profits is bright wholesale indemnity to pay, not wholly in retaining with the development approach of China Life location, but can not cease the channel.
Therefore, China Life has been aimed at in 2009 in alignment to accomplish a glossy scale of enterprise development, change of enterprise structure, to guard against operational dangers to determination business-oriented development strategy. Pay vigilance to the enterprise to evolve long-term time span, risk-based enterprise, as well as individual protection principles mostly to pay the operational stage dispersion. According to the briefing, the company's protection universal rudimentary moratorium on the sale in 2009, and the cast fundamentally did not even dangerous. - 21396
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