In the first three quarters of 2017, the "guarantee + service" function of the insurance industry was continuously enhanced.
2017 years ago in the third quarter, the insurance industry seriously implement the party central committee and the state council the overall deployment, resolutely implement the general secretary xi series of important speech spirit and national financial work conference spirit, based on the stability to the macro economic and financial environment, adhere to the fundamental purpose of insurance service entity economy, strengthening "xing4 bao" insurance, do the return to the origin, prominent main business, professional, build risk defense, improve the ability to guard against and dissolve the risk, give full play to the long-term sound risk management and safeguard function.
In general, the insurance market is stable, the product structure is further optimized, and the capital utilization income is steadily increasing, and the overall function of the industry's risk protection and service is continuously enhanced. Statistics show that in the first three quarters, the total insurance premium income of the whole industry was 3045.732 billion yuan, a year-on-year increase of 21.01 percent. Among them, property insurance companies and personal insurance companies increased by 14.54% and 23.43% respectively. Compensation expenditure was 832.727 billion yuan, a year-on-year increase of 7.44%. The total amount of insurance assets was 16.58 trillion yuan, up 9.69% from the beginning of the year. Specifically, the market operation presents the following characteristics:
First, business growth stabilizes and the amount of risk insurance increases rapidly.In the first three quarters, the insurance industry maintained relatively fast growth, but the growth rate slowed down 11.17 percentage points. In terms of risks, the property insurance business was positive, and the original insurance premium income reached 723.28 billion yuan, up 13.49% year on year and 5.72 percent growth. The liability insurance and agricultural insurance business, which are closely related to the national economy and people's livelihood, continued to grow rapidly, achieving the original insurance premium income of 34.417 billion yuan and 414.3 billion yuan respectively, an increase of 22.59% and 14.99% year-on-year. The growth rate of engineering risks with strong macroeconomic correlation was significantly accelerated, and the original insurance premium income was 90.79 billion yuan, up 17.67%, and the growth rate was 7.12 percentage points faster than that of the previous year. In the stabilization of personal insurance business, the insurance premium income reached 232.22703 billion yuan, an increase of 23.56% over the same period last year, and the growth rate decreased by 19.61 percentage points. Among them, the life insurance business realized the original insurance premium income of 18,940.92 billion yuan, a year-on-year increase of 28.12%; The original insurance premium income of health insurance business was 358.305 billion yuan, up 4.45%. In the first three quarters, the insurance industry provided a risk guarantee of 2909.81 trillion yuan, an increase of 46.33 percent. Among them, life insurance was 28.31 trillion yuan, a year-on-year increase of 53.62%.
Second, the industry insists on returning to the source, the product structure further adjustment.From the perspective of property insurance business structure, the macro economy and favorable policies of the country further promote the recovery of traditional property insurance business and inject new impetus into the development of property insurance business. In the first three quarters, non-auto insurance business realized the original premium income of 2399.46 billion yuan, an increase of 24.90% over the same period of last year, higher than the growth rate of 14.42 percentage points, accounting for 30.70%, up 2.55 percentage points from the same period last year. The auto insurance business was 541.741 billion yuan, up 10.48 percent year on year. From the personal insurance business structure, the average premium of life insurance business is 49.38%, up 13.18 percentage points from the end of last year; Universal insurance 18.37%, down 18.48 percentage points; Profit sharing was 30.64%, up 6.88 percentage points. Business channels, safeguard function product of high personal agency business to become the first big channel, realize the original insurance premium income of 1.100572 trillion yuan, up 33.73% from a year earlier, accounting for 48.61% of the total business life insurance company, rose 3.75% from a year; The agency business of the bank was 968423 million yuan, up 15.69 percent year on year, accounting for 42.77 percent, down 2.86 percentage points from the same period last year.
Third, the allocations of funds is more reasonable, and investment income is growing steadily.In the first three quarters of this year, the balance of funds used by insurance companies was 14,647.173 billion yuan, up 9.38% from the beginning of the year. Among them, the total balance of bank deposits and bonds totaled 7138.278 billion yuan, accounting for 48.73 percent, down 1.97 percentage points from the beginning of the year. Shares and securities investment funds were 18831.91 billion yuan, accounting for 12.86 percent, down 0.42 percentage points. Long-term equity investment reached 1377272 billion yuan, accounting for 9.40%, up 0.23 percentage points. The mortgage loan and debt plan of the guarantee account was 1498.966 billion yuan, accounting for 10.23% of the total, up 1.08 percentage points. The revenue of the fund was 581.431 billion yuan, up 20.41% year on year. Among them, the bond yield was 153.976 billion yuan, up 7.30%. In addition, insurance companies actively explore investment opportunities in infrastructure, supply-side reform, debt-for-equity and other sectors, and achieve 259.362 billion yuan of long-term equity investment and other investment income, an increase of 19.44%.
Fourthly, insurance technology is widely used, and the business of Internet insurance company develops rapidly.Since 2017, the insurance industry docking positive scenes, scale, and personalized consumer demand, and their layout is given priority to with artificial intelligence, a cloud platform and block chain products, gradually insurance technology was applied to the business process and service link, realize the underwriting, underwriting, fee, claims, and other functions of intelligent. From the perspective of the development strategy of insurance technology, on the one hand, we insist on independent research and development, and promote the transformation from capital driven to technology-driven by innovative intelligent products. On the other hand, we should strengthen the strategic cooperation with Internet enterprises and enhance the service efficiency and customer experience based on their strong financial and technological advantages. In the first three quarters, four Internet insurance companies developed rapidly based on the gradual improvement of the product line, the accelerated application of new technologies and the constant introduction of innovative insurance. In terms of premium income, the original insurance premium income reached 6.464 billion yuan, a year-on-year increase of 133.77%. In terms of number of policies, 4.456 billion of the four companies, up 110.13% year on year.
Fifth, based on the national development strategy, significantly improve the insurance service capacity.The insurance industry, carry out the national financial work conference spirit, in the circ "1 + 4" series file, do the prominent main business, professional, widen the channel of the support of the real economy, innovation way of use of insurance funds, actively promote the insurance service ability. By the end of September, agricultural insurance provided 1.81 million rural households with a risk guarantee of 1.61 trillion yuan, an increase of 13.45 percent compared with the same period last year. Payment of compensation of 17.65 billion yuan, an increase of 26.18%; The number of poor households and affected farmers increased by 30.92%. From the perspective of financial support, the deposit balance of the insurance industry is more than 1.4 trillion yuan, which is an important source of long-term loans for the real economy. The direct financing of investment bonds and shares in the real economy exceeded 7.01 trillion yuan, an increase of 15.23% over the beginning of the year. From the perspective of the implementation of the national economic development strategy, the strategic investment of "One Belt And One Road" in the form of creditor's rights and equity plans reached 772.74 billion yuan. In the form of creditor's rights plan, the strategic investment of the Yangtze river economic belt and the beijing-tianjin-hebei cooperative development strategy amounted to 298.618 billion yuan and 122.435 billion yuan respectively. The investment plan of the insurance fund entities involved in the green industry debt investment plan involving clean energy, resource conservation and pollution control amounted to 616.675 billion yuan.
