Look at your question to supplement! Answer: Insurance funds of insurance companies cannot be used for lending. Lending is a bank's business, but insurance funds can be used for investment and wealth management. This is why many insurance companies have set up asset management departments or asset management companies. Because these funds can't always be there, only when they are put into the market can they drive the economy. In addition, if there is investment, there will be trust, because these investment funds are basically the trust property of others, and not much is the self-owned property of insurance companies. As for banks, they are completely independent of insurance. Ping An Bank and Ping An Insurance are two independent legal persons, and there is absolutely no business overlap, but they belong to the same group! The state has clear regulations. You can check it again in detail. Do you think this answer is ok? If so, I need your approval!
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The investment fields of insurance funds are nothing more than bond market and stock market. The investment management company of an insurance company is actually the same as a fund company, except that one source of investment is the money that retail investors buy funds, and the other is the insurance funds entrusted to it by the insurance company. In addition, investment management companies of insurance companies can also trust other funds, such as enterprise annuities. Generally speaking, these insurance investment companies can do what fund companies can do now. Another trend is that insurance companies are now starting to separate their asset investment departments and set up a separate legal entity, of course, which is holding, which is conducive to their business development.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.