Banks mainly participate in small insurance companies.
It is understood that the status quo of China's financial industry is "big banks, small insurance". According to the research report released by analysts of United Securities Insurance Industry, as of June 2009, the total assets of domestic banking industry were 73.7 trillion yuan, and the total assets of insurance industry were 3.7 trillion yuan. The insiders believe that "big banks" or banks' participation in insurance companies has been repeatedly postponed. Judging from the two life insurance companies allowed to participate in the stock market, Hengan Standard and Bao Zhong Kanglian are both small companies in the life insurance industry, and their market share in the life insurance industry is only 0.0 1% and 0. 17% respectively, and their influence is relatively small. Bank participation is good for small insurance companies, while small insurance companies that are not involved in bank participation may be affected. The banking channel is very important for the sales of insurance products. Small insurance companies are likely to be kicked out of the banking sales channel in the future because of their low popularity, even if there is no "bank shares in insurance companies". According to the above research report, among the three insurance giants, China Life has 97,000 banks and postal agency outlets, and a 20% stake in Guangfa Bank, in addition to the huge team of individual insurance agents that banks lack. China Ping An has 48,000 silver and postal agency outlets, and also holds shares in Ping An Bank and Shenzhen Development Bank; Taibao has more than 60,000 silver postal agency outlets. It can be seen that in terms of channels, large insurance companies are not weak compared with banks. Small life insurance companies are invested by banks and have little influence on large insurance companies. In addition, in the future, as Ping An Group continues to integrate the banking business on the financial holding platform, the trend of mutual penetration between banks and insurance industry will be even stronger.
Insiders pointed out that large insurance companies have no incentive to sell their shares and will not sell their shares to banks. For a long time, banks still mainly participate in small insurance companies.
There may be short-term losses in life insurance business.
Some experts pointed out that many foreign experiences show that banks' participation in insurance companies often ends in vain. Can the big banks in China get rid of this convention by participating in small insurance companies? It is understood that the law of life insurance industry is "no profit after seven years of opening". So, can banks stand the loneliness of these seven years? The main way for banks to gain profits by participating in insurance enterprises is to represent sales income and insurance operating profits. For banks, the income from consignment is risk-free income. According to the above-mentioned joint securities analysis report, it is foreseeable that banks participating in insurance will still adopt the way of non-exclusive agency sales in order to earn as much income as possible. If banks want to obtain insurance operating profits, they must first realize that life insurance is an industry that needs to be accumulated and cannot be promoted quickly. The report pointed out that life insurance business needs a lot of investment in the early stage, and banks should tolerate long-term sustained losses in the early stage of business expansion. Considering that the bank's shareholding insurance is not wholly-owned, there is little incentive to significantly reduce the handling fees of its insurance companies; On the other hand, life insurance management has high requirements for professionals (actuaries, finance, etc.). ), and the talent construction of small insurance companies in which these banks participate is usually relatively backward, and the construction of professional teams also requires a lot of money and energy.
There is a high risk for banks participating in insurance to pursue insurance operating profits, so the report predicts that banks will focus on agency sales again after experiencing sustained losses in the early stage of expansion. An insurance analyst believes that the market share of banks participating in insurance companies may increase in the past few years, but with the expansion of scale in the future, it is worth observing whether banks as shareholders will restrict this business if their profitability is not good. In the long run, the development trend of the insurance industry is good, but whether banks are willing to sacrifice short-term interests and patiently lay out the insurance industry depends on their strategic planning.
Pay attention to "bank" insurance companies
As for banks' shareholding in insurance companies, some analysts believe that the short-term impact can be ignored, but the medium and long term is worthy of attention. The insurance analyst of Essence Securities believes that the short-term impact of banks' shareholding in insurance companies on the insurance industry and listed insurance companies is almost negligible (the market share of insurance companies that have invested is very small at present), but in the medium and long term, banks are insurance companies worthy of full attention from listed insurance companies (especially large banks' shareholding in large insurance companies). The analyst pointed out in the research report that a bank company needs two conditions to succeed: first, banks should attach great importance to their insurance business; Second, banks and their insurance companies should have a reasonable profit distribution mechanism, so that the bank's business department and insurance company personnel have enough motivation.