Once, with placards, Vanke stir the market situation of Qianhai life, big event.
In May 15th, many insurance and real estate journalists received a letter from the sender as "firstname.lastname@example.org". There are 7 attachments in the mail, 5 of which are internal documents with the official seal of the China Insurance Regulatory commission. From the perspective of signed 5 documents, the time span from January 3, 2017 to May 2nd, nearly 4 months.
In a document submitted by the Shenzhen Insurance Regulatory Commission to the China Insurance Regulatory Commission, the Shenzhen Insurance Regulatory Commission proposed to pay attention to the risk of cash flow in Qianhai life insurance company, the China Insurance Regulatory Bureau believes that the operation of Qianhai life insurance company has suffered a great turn of the year and faces greater difficulties. Document mentioned, "first quarter surrender 18 billion 800 million", "operating conditions worrying", "facing severe cash flow risk."". One of the reasons for this is a sharp decline in the company's business. Two is a substantial increase in the amount of surrender.
Qianhai life to China Insurance Regulatory Commission's work report, but also confirmed this.
This report translation straightforward point is: "in 2017 nearly 60 billion surrender amount may have holes, do not sell universal insurance, we have no income, no money surrender, may cause riots.". Leave a hole for us, please!"
You are the first company in the industry to dare to threaten the China Insurance Regulatory commission. 60 billion, the number, the existence of the actual situation?!
Universal insurance: blame me?
Qianhai life was punished, and even the whole universal insurance business was regulated, the fuse is the initial Vanke equity dispute.
2015, the Department of energy treasure with Qianhai life insurance universal fund placards Vanke, became Vanke's largest shareholder. When Wang Shifa micro-blog at the barbarians, and questioned the "universal insurance money laundering". Inside the Ampang, Hengda and Qianhai life has become a public concern.
Qianhai life was founded second years, the scale of premiums will exceed 10 billion mark, reaching 14 billion 310 million yuan, and in the next two years maintained an increase of 100%. Universal insurance was an important source of premium income for Qianhai life. 2016 years ago, October, Qianhai life insurance investment new contributions 72 billion 143 million yuan. Among them, universal insurance accounted for more than 80%.
Last June, the treasure can also confidently proposal to recall the Vanke directors and supervisors, let Wang Shi and Yu Liang get out. As a result, less than a year, to universal insurance business based Qianhai life, Hengda life, China life, have been fined. The Commission Chairman Yao Zhenhua is the top grid penalty, revocation of qualification, cut into the insurance industry for 10 years.
In the cash flow pressure, difficult situation, Qianhai life only through the hands of the chips.
Broke the news show, Qianhai life insurance mentioned in the report will be in accordance with the CIRC and the government instructions, with good Vanke board of directors general work.
"We don't change people's chairman and general manager, you say vote to whom."."
For insurance companies, once the risk of investment is too high, the risk of their own risk control ability is insufficient, there may be losses, and this loss will eventually be passed on to the insurance investors. Bao can now move is tantamount to think that the system can bargain, in addition to the provisions of the "discuss exchange" space. I would like to ask, the China Insurance Regulatory Commission and the provisions of the two, you are looking down on who?
The cash flow risk rumors, Qianhai life May 17th evening announcement said that since December last year, Qianhai life has been actively making cash flow monitoring and customer service work, the daily monitoring of cash flow, the company operates normally, stable cash flow, maintain a good and stable business relations with customers and partners.
"Well, I'm still safe for the time being."
In addition, the evening of May 3rd, Vanke announced that the company received shareholder Shenzhen jushenghua Limited by Share Ltd (company controller Yao Zhenhua) the "letter".
"This letter" show: April 28, 2017, huge Shenghua will hold Vanke 91000000 shares tradable A shares through repo pledged to the Citic Trust Co.Ltd, and has been in the China Securities Depository and Clearing Co., Ltd. Shenzhen branch completed equity pledge registration, part of the equity pledge period from April 28, 2017 until the termination of the pledge date."
This part is the pledge of stock had been pledged to Penghua asset, April 26th has just lifted the pledge. This is the fifth time for huge Shenghua Vanke "pledge - re pledge" operation, at the same time, this is the 2017 fourth huge Shenghua Vanke stock pledge.
Within five months, Yao Zhenhua four times pledged Vanke equity, it can be seen that its capital chain tension to what extent?.
So what will happen to this?
Qianhai life insurance from 2017 quarterly view, the cash reserves of 42 billion 100 million yuan, the core solvency adequacy ratio of 60.52%, comprehensive solvency adequacy ratio of 121.04%. Higher than last year, higher than the CIRC minimum requirements for life insurance companies 50% and 100%. The problem doesn't seem so serious.
However, the premium income is very tragic. As of the end of the first quarter of 2017, Qianhai life insurance premium income 13 billion 533 million yuan, down 69.74%; total surrender amount of 18 billion 848 million yuan, an increase of 145.97%, the surrender rate of more than 9%, far higher than the industry average.
If Qianhai life continues to suspend universal insurance business, it will not be able to declare new products, and the result will surely be more and more serious. The key question now is: how CIRC react?
If this thing is still underwater, everything can be said. Now traced out, this is embarrassing. China Insurance Regulatory Commission does not agree with the application of Qianhai life insurance company. According to his statement, there may be mass incidents. It is difficult to agree. Will other companies follow the example?
Moreover, the China Insurance Regulatory Commission has recently been a crackdown on financial insurance policy. Two days ago also stressed: personal insurance must return to security, in the form of additional risk design universal insurance or investment linked insurance is also not possible. Opening a hole, policies and regulations can not be furnished?
So, the worst result is that the applicant carries the pot back?
"Insurance law" stipulates that life insurance companies can not be closed down. If Qianhai life truly appears to be unable to honor the crisis, the most declared bankruptcy. The insurance contract and the reserve for its liabilities will be transferred to other insurance companies. If no one receives the order, the CIRC will appoint an insurance company to accept the transfer. You see, Xinhua has been restructuring, now is also alive; life insurance is CIRC take flight, also do not have what thing.
In a word, the policy in your hand will not be taken care of.