4 trillion risk capital allocation facing exams-aspack

4 trillion risk capital allocation facing exams in Beijing daily news (reporter Cui Qibin Chen Tingting) in the background of the economic downturn, the insurance industry has become the traditional financial sector a "dark horse", counter attack banks, trusts and other institutions. However, the rapid growth of performance on the one hand makes the market scale, on the other hand, it also brings greater investment pressure to insurance companies. Yesterday, the Beijing Daily reporter from China Insurance Asset Management Association (hereinafter referred to as the Insurance Information Management Association) was informed that the current insurance firms the liability side of the high cost, the cost of debt is still in 6%-8%, and the new income funds and funds due to total more than 4 trillion yuan face configuration exam". Insurance information management association data show that last year, a total of 121 Insurance asset management products registered, the scale reached 270 billion 613 million yuan. Among them, the infrastructure debt investment plan 42, the scale of 102 billion 745 million yuan; registration of real estate claims investment plan 69, the scale of 101 billion 968 million yuan; 5 projects registered asset support plan, equity investment plan 5, the scale of funds were 19 billion 400 million yuan and 46 billion 500 million yuan. From the point of view of income, the average yield of infrastructure debt investment plan is 6.61%. In contrast, the average yield of real estate debt investment plan is higher, reaching 7.25%. However, from the performance of some products, the return on the asset side can not compensate for the increasing cost of the debt side. It is understood that with the insurance premium rate market-oriented, some insurance companies mainly push dividends, universal insurance and other financial products with high cash value, in the end of the debt, the asset side is facing a dilemma. At present, most of the insurance company’s debt cost is still 6%-8%, and sometimes even more than 10%, in this way, the risk asset allocation pressure doubled. What we need to face now is that the insurance industry is still growing at a high rate, earning a lot of cash flow. Insurance premium income increased by 20% in 2015, reaching 2 trillion and 400 billion yuan. The trend of rapid growth continued into this year, the first month of opening, the insurance premium income again soared, premium income reached 637 billion 673 million yuan, an increase of 59.2%. Insurance information management executive vice president and Secretary General of the association Cao Deyun said, according to the 10%-20% annual growth rate, this year the premium income is expected to close 2 trillion and 900 billion yuan, 10%-15% plus annual assets (including deposits, bonds) expires, the total will be more than 4 trillion yuan of insurance funds allocation. The amount of days for allocation of funds will undoubtedly increase the pressure of the insurance companies, especially in the current domestic economic transformation into a painful period, fixed assets investment growth fell sharply, the manufacturing industry and real estate development overall rebound, local debt will also have to face high debt peaks, infrastructure investment to maintain rapid growth difficult. Cao Deyun said that under the current environment, the increasing pressure on the end of the debt to the asset side conduction, making the latter bear the pressure at the end of the debt and downward pressure on the market. However, insurance and information management industry is still facing multiple opportunities for development, steady growth, the growth of the national security work to promote and expand effective investment, increase the supply of public goods, and "The Belt and Road, on

4万亿险资面临配置大考   北京商报讯(记者 崔启斌 陈婷婷)在经济下行背景下,保险业成为传统金融领域的一匹“黑马”,逆袭了银行、信托等机构。但高速增长的业绩一方面做大了市场规模,另一方面也给险企带来了较大的投资压力。昨日,北京商报记者从中国保险资产管理业协会(以下简称“保险资管协会”)获悉,目前险企负债端成本高企,负债成本仍在6%-8%,而新收入资金及到期资金合计超过4万亿元面临配置“大考”。   保险资管协会数据显示,去年保险资产管理产品共有121只注册,规模达到2706.13亿元。其中,基础设施债权投资计划42只,规模1027.45亿元;注册不动产债权投资计划69只,规模1019.68亿元;注册项目资产支持计划5只,股权投资计划5只,资金规模分别为194亿元和465亿元。   从收益来看,基础设施债权投资计划的平均收益率为6.61%。与之相比,不动产债权投资计划的平均收益率较高,达到7.25%。不过,从部分产品收益表现来看,资产端的收益还无法弥补负债端不断增加的成本。据了解,随着保险业费率市场化推进,部分险企主推分红险、万能险等具有理财性质的高现金价值产品,在负债端、资产端面临两难选择。目前,大部分保险公司的负债成本仍在6%-8%,有时甚至超过10%,如此来看,险资资产配置压力倍增。   现在需要面对的是,保险业仍在高速增长,收入大量的现金流。2015年保险保费收入同比增长20%,达到2.4万亿元。高速增长态势延续到今年,开年首月,保险保费收入再次暴增,保费收入达到了6376.73亿元,同比大增59.2%。保险资管协会执行副会长兼秘书长曹德云表示,按照每年10%-20%的增长率计算,今年保费收入有望接近2.9万亿元,加上每年有10%-15%的资产(包括存款、债券等)到期,全年合计将有超过4万亿元保险资金等待配置。   天量待配置资金无疑加大了险企的压力,尤其是在当前的国内经济转型进入一个阵痛期,固定资产投资增速大幅回落、制造业和房地产开发整体回升动力不足,地方债务也将不得不面临偿债高峰,基础设施投资保持较快增速的难度较大。   曹德云表示,当前环境下,不断加大的负债端的压力向资产端传导,使得后者同时承担负债端的压力和市场下行的压力。尽管如此,保险资管行业依然面临多重发展机遇,在国家稳增长、保增长的工作推进中,扩大有效投资、增加公共产品供给,以及“一带一路”、国企改革、“双创”等战略,都将为保险业带来机遇。   为了缓解投资端的压力,曹德云建议各保险资管机构可以丰富资管产品,加大主动投资力度的同时增加另类投资,实现多元化的资产配置;拓展第三方业务,参与大资管市场的竞争。其中,选择境外投资不失为一个很好的选择。   截至目前,保险境外投资360亿美元,占总资产的1.9%,与监管政策所允许的15%的最高比例上限相差甚远。而随着境内外市场的联通、联动,险资“走出去”将成为重要的投资渠道。 进入【新浪财经股吧】讨论相关的主题文章: