Home Business Insurance companies hold intensive semi-annual summary meeting and follow-up work has its own focus_China Life Group_Development_Meeting

Insurance companies hold intensive semi-annual summary meeting and follow-up work has its own focus_China Life Group_Development_Meeting

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Original title: Insurance companies hold intensive semi-annual summary meeting and follow-up work focuses on each

Securities Times reporter Yang Zhuoqing

As they bid farewell to July, a number of leading insurance companies held intensive work meetings in the first half of the year, summarizing their gains and losses, and judging the market, which also revealed the focus of their work in the second half of the year.

Insurance companies generally gave positive comments on the results in the first half of the year. China Life Group said, “It has stabilized its market position, and its important indicators are better than its peers”; PICC said, “The growth rate of the group’s business is ahead of major peers”; China Taiping said, “The scale of assets under management exceeded 2 trillion yuan for the first time, and the core business There has been progress in stability, and the total manpower has maintained positive growth compared with the end of the previous year.” Xinhua Insurance said, “The main business of life insurance has stabilized the fundamentals, and equity investment has outperformed the market.”

China Life Insurance:

Stronger market dominance

On July 26, China Life Insurance (Group) Company (hereinafter referred to as “China Life Group”) 2022 first half working meeting was held in Beijing. Bai Tao, Secretary of the Party Committee and Chairman of the Group, delivered an important speech on behalf of the Party Committee of the Group, and Cai Xiliang, Deputy Secretary of the Party Committee and President of the Group, made a management report for the first half of the year.

The meeting pointed out that in the first half of the year, China Life Group has stabilized its market position. The company’s operations have been steadily improving and improving. The stable foundation has been consolidated, and the trend of progress has begun to appear. The important indicators are better than those of the industry, and the industry’s stability has been better played. Development of the “ballast stone” role. Among them, life insurance companies in the insurance segment ranked first in the industry in embedded value, property insurance companies continued to grow faster than the industry average and major peers, and pension insurance companies continued to maintain an industry-leading position in the annuity business; the consolidated financial yield of the investment segment was higher than the industry average The year-on-year growth rate of China Guangfa Bank’s net fee income in the banking sector ranks first among its joint-stock peers.

The meeting revealed that China Life Group’s consolidated total assets in the first half of the year exceeded 6 trillion yuan, and third-party assets under its consolidated management reached nearly 2.2 trillion yuan, providing risk protection for the economy and society exceeding 480 trillion yuan, and directly serving the real economy. The stock investment scale exceeds 36,000 yuan. billion.

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In addition, according to the first half working meeting of China Life, a listed life insurance subsidiary of China Life Group, in the first half of the year, China Life faced a complex situation, coordinated epidemic prevention and control and business development, and achieved an original insurance premium income of about 439.7 billion yuan (unaudited). Market dominance is stronger.

The meeting also pointed out that China Life should be deeply aware of the current situation: first, the life insurance market is still in the stage of stabilization and bottoming out, and the industry transformation and transformation are more urgent; second, the long-term development foundation of life insurance has not changed, but the connotation of new strategic opportunities has occurred. Changes; third, the company has the conditions and advantages to take the lead in breaking through, and it needs to target its shortcomings and weaknesses and continue to make efforts.

For the work in the second half of the year, the China Life meeting put forward six requirements: first, to promote continuous rectification in a strict and practical manner; second, to do everything possible to maintain stable business development; third, to promote the implementation of major decisions and arrangements of the central government; fourth, to unswervingly deepen reform and innovation; It is to resolutely adhere to the bottom line of risk prevention and control; the sixth is to deepen the comprehensive and strict governance of the party.

PICC:

Growth rate ahead of major peers

On July 27, the People’s Insurance Company of China held its 2022 semi-annual executive meeting in Beijing. Luo Xi, Secretary of the Party Committee and Chairman of the Group, made a closing speech, and Wang Tingke, Deputy Secretary of the Party Committee, Vice Chairman and President of the Group, made a report on the operation and management work in the first half of the year.

The meeting pointed out that in the first half of this year, the Group’s business growth rate was ahead of the major peers, the development quality continued to improve, and the operating efficiency increased steadily. The trend of achieving a high-quality development inflection point has emerged. The next step is to focus on optimizing the service mode, optimizing the business structure, optimizing the investment method, optimizing the resource allocation, and optimizing the “five optimizations” of risk prevention and control, and continue to deepen and improve the quality of development.

The meeting proposed that in-depth inspection and rectification should be carried out. In the first half of the year, the Group regards the inspection and rectification of the central government as the most important political task. Through three months of centralized rectification, it has strengthened the political “three forces”, improved the performance of duties, implemented the three major tasks, promoted the establishment of regulations, and seriously held accountable. Preliminary results have been achieved in such areas, and many deep-seated contradictions that have long been unwilling, afraid, or unable to move in history have been initially resolved. However, the work during the intensive rectification period is only the first step in the inspection and rectification. Some deep-seated problems pointed out by the feedback of the central inspection have not been completely solved. It is necessary to resolutely prevent excessive concern, from consolidating the main responsibility, strengthening the political “three forces”, strengthening organizational construction, Strengthen the strict atmosphere and other aspects, further do a good job in the central inspection and rectification work, and persevere in the “second half article” of inspection and rectification.

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At the same time, the meeting put forward the key points of PICC’s operation and management work in the second half of the year: first, to promote business development while serving the “three essentials and three stability”; second, to optimize the business structure while accelerating product and service innovation; third, to deepen the “four major transformations” The fourth is to optimize the investment structure and management level in the implementation of the “dual service” requirements; the fifth is to strengthen the technological empowerment in building the core competitiveness of science and technology; the sixth is to further strengthen the bottom-line thinking Strengthen the responsibility and effectiveness of risk control.

China Taiping:

Gross premiums increased by 1.4% year-on-year

China Taiping also recently held a mid-year work conference in 2022. China Taiping Party Committee Secretary and Chairman Wang Sidong delivered an important speech, and China Taiping Party Committee Deputy Secretary and General Manager Yin Zhaojun made a business report.

In the first half of the year, China Taiping achieved total premiums of 130 billion yuan, a year-on-year increase of 1.4%; total assets reached 1.2 trillion yuan, an increase of 9.7% from the beginning of the year; the scale of assets under management exceeded 2 trillion yuan for the first time, an increase of 9.2% from the beginning of the year.

In terms of serving the national strategy and supporting the real economy, China Taiping has introduced 15 measures to help stabilize economic growth, invested more than 90 billion yuan in infrastructure, and invested more than 1 billion yuan in special rescue asset management products, accumulatively reaching 19,000 Logistics enterprises provided risk protection of 80.5 billion yuan, with a total investment balance of 77.4 billion yuan in the Greater Bay Area, providing risk protection of about 310 billion yuan for 281 major projects along the “Belt and Road”. In addition, the original premiums of agricultural insurance increased by 54.9% year-on-year, participated in 61 urban Huimin insurance projects, and long-term care insurance covered about 26 million people.

According to the arrangement of the meeting, China Taiping’s business work in the second half of the year will focus on fulfilling the responsibilities of a central SOE to help the country stabilize economic growth; adhere to value growth, and fully promote the achievement of the annual goal; strengthen risk prevention and control, and firmly hold the bottom line against systemic risks; Improve investment management capabilities to further enhance and stabilize investment returns; deepen strategic layout and accelerate the creation of Taiping’s unique advantages; focus on digital transformation and increase technological innovation; , to build a solid foundation for high-quality development and other aspects.

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In Taiping Life’s first half working meeting, Cheng Yonghong, secretary of the party committee and general manager of Taiping Life, revealed that the company’s core business has made steady progress in the first half of the year, and its business quality indicators have maintained a leading position in the industry.

It was also revealed that in the first half of 2022, Taiping Life Insurance provided a total of 302,500 customers with claim settlement services, with an average daily claim amount of nearly 26 million yuan and more than 2,100 claims per day.

New China Insurance:

Insurance premiums up 2% year-on-year

On the afternoon of July 18, New China Insurance held a mid-year work meeting in 2022 to summarize the operation work in the first half of the year, study and judge the current situation and challenges, clarify the goals and requirements for the second half of the year, and deploy the operation and management work for the second half of the year.

Xu Zhibin, chairman of New China Insurance, said that in the first half of the year, in the face of the complicated external situation, the company implemented the decisions and arrangements of the Party Central Committee and the work requirements of the CIC Party Committee, earnestly implemented inspection and rectification tasks, actively promoted the implementation of strategic plans, and worked hard to overcome the impact of the epidemic. Focusing on stable operation and management, it has achieved hard-won results. We hope to create more and better results in the future by facing and solving problems head-on.

According to reports, the main business of New China Life Insurance has stabilized the basic market. In the first half of the year, the company achieved original insurance premium income of 102.586 billion yuan, a year-on-year increase of 2%. The investment business consolidated its dominant position. Equity investment seized the opportunity of rebound and outperformed the market; wealth management business developed steadily, and the development of third-party business was further strengthened.Return to Sohu, see more

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