Economic Observation Network intern reporter Du Ma Ruihong reporter Jiang Xin On January 30, the Consumer Rights Protection Bureau of the China Banking and Insurance Regulatory Commission issued the “Notice on Complaints about Banking Consumers in the Third Quarter of 2022” and “Notice on Complaints about Insurance Consumers in the Third Quarter of 2022” (hereinafter referred to as the “Notice”) .
The “Notice” shows that in the third quarter of 2022, the China Banking Regulatory Commission and its dispatched agencies received and forwarded a total of 75,627 and 32,726 consumer complaints from the banking industry and insurance respectively.
In terms of banking business, there were 38,016 complaints involving credit card business, accounting for 50.3% of the total; 24,743 complaints involving personal loan business, accounting for 32.7% of the total; 3,195 complaints involving wealth management business, accounting for 4.2% of the total %.
In terms of insurance consumption complaints, 12,203 cases were related to property insurance companies, accounting for 37.29% of the total complaints; 20,523 cases were related to personal insurance companies, accounting for 62.71%.
The “Notice” also disclosed some individual institutions with a relatively high volume of complaints.
The number of complaints from large state-owned commercial banks, in the third quarter of 2022, the median number of complaints from large state-owned commercial banks is 3284.0. Among them, 3,821 were filed by Industrial and Commercial Bank of China, accounting for 19.2% of the total complaints from large state-owned commercial banks; 3,820 were filed by Bank of Communications, accounting for 19.2%; 3,520 were filed by China Construction Bank, accounting for 17.7%; 3,048 were filed by Postal Savings Bank of China, accounting for 15.3%; Agricultural Bank of China has 3002 cases, accounting for 15.1%; Bank of China has 2659 cases, accounting for 13.4%.
Complaints of large state-owned commercial banks
In terms of the number of complaints from joint-stock commercial banks, in the third quarter of 2022, the median number of complaints from joint-stock commercial banks was 2386.0. Among them, Industrial Bank had 4,721 complaints, accounting for 15.5% of the total number of joint-stock commercial bank complaints; Ping An Bank had 4,590 complaints, accounting for 15.1%; Shanghai Pudong Development Bank had 4,088 complaints, accounting for 13.4%; China Merchants Bank had 3,431 complaints, accounting for 11.3%; 3083 cases, accounting for 10.1%; China Everbright Bank 2941 cases, accounting for 9.7%; Minsheng Bank 2386 cases, accounting for 7.8%; China Guangfa Bank 2215 cases, accounting for 7.3%; Huaxia Bank 1418 cases, accounting for 4.7%; 481 banks, accounting for 1.6%; Bohai Bank 466, accounting for 1.5%; China Zheshang Bank 342, accounting for 1.1%; Hengfeng Bank 288, accounting for 0.9%.
Complaints of joint-stock commercial banks
In terms of foreign-funded corporate banks, the number of complaints from Bank of East Asia far exceeds that of other banks. The data shows that in the third quarter of 2022, the median number of complaints from foreign-funded corporate banks is 24.5. Among them, the most complaints are: Bank of East Asia 154 cases, accounting for 36.7% of the total number of foreign-funded corporate banks; HSBC Bank 72 cases, accounting for 17.1%; Citibank 43 cases, accounting for 10.2%; DBS Bank 40 cases , accounting for 9.5%; Standard Chartered Bank 39 cases, accounting for 9.3%; Fubon Sino-First Bank 10 cases, accounting for 2.4%.
Complaints of foreign-funded corporate banks
In terms of complaints in the insurance industry, in terms of quantity, the top 10 complaints from property insurance companies are: PICC Property & Casualty Insurance 2,479, accounting for 20.31% of the total number of property insurance complaints; Zhongan Online Property Insurance 2,000, accounting for 16.39% %; Zhonghui Mutual Insurance 1815 cases, accounting for 14.87%; Ping An Property & Casualty Insurance 813 cases, accounting for 6.66%; Pacific Property & Casualty Insurance 684 cases, accounting for 5.61%; Insurance 360, accounting for 2.95%; Continent Property & Casualty Insurance 354, accounting for 2.90%; Sunshine Property & Casualty Insurance 317, accounting for 2.60%; Taiping Property & Casualty Insurance 236, accounting for 1.93%.
Complaints of property insurance companies
The top 10 complaints of life insurance companies are: Ping An Life Insurance 6171, accounting for 30.07% of the total life insurance complaints; Pacific Life Insurance 1935, accounting for 9.43%; China Life Insurance 1730, accounting for 8.43%; Taikang Life Insurance 1381 New China Life Insurance 1272, accounting for 6.20%; Taiping Life Insurance 1076, accounting for 5.24%; Funde Life Insurance 721, accounting for 3.51%; Fosun United Health 678, accounting for 3.30% ; People’s Life Insurance 584, accounting for 2.85%; Centennial Life Insurance 456, accounting for 2.22%.
Complaints of life insurance companies
Comparing complaints and business volume, what is different from the past is that the number of complaints from many small and medium-sized property insurance companies has soared. In the third quarter of 2022, the median number of complaints from property insurance companies for 100 million yuan of premiums was 437 cases per 100 million yuan. Among them, the top 10 complaints of 100 million yuan premiums are: Zhonghui Mutual Insurance 34.218 cases/100 million yuan; Sunshine Credit Insurance 16.034 cases/100 million yuan; Strait Insurance 32.82 cases/100 million yuan; Zhongan Online Property Insurance 27.16 cases/100 million yuan ; Modern Property & Casualty Insurance 1.788 cases/100 million yuan; Qianhai Property & Casualty Insurance 1.639 cases/100 million yuan; Xinan Auto Insurance 14.01 cases/100 million yuan; Rongsheng Insurance 10.99 cases/100 million yuan; Bohai Property Insurance 8.20 cases/100 million yuan; Changan Liability Insurance 7.99 pieces/100 million yuan.
The number of complaints of property insurance premiums of 100 million yuan
The data shows that in the third quarter of 2022, the median number of complaints from personal insurance companies for 100 million yuan in premiums is 1.95 cases per 100 million yuan. Among them, the top 10 complaints of 100 million yuan premiums are: Fosun United Health 6.410 cases/100 million yuan; Taiping Pension 8.76 cases/100 million yuan; Peking University Founder Life Insurance 8.70 cases/100 million yuan; Cigna Life Insurance 6.78 cases/100 million yuan; Ping An Life Insurance 6.72 cases/100 million yuan; China Korea Life Insurance 6.59 cases/100 million yuan; China-US United Thai Life Insurance 6.48 cases/100 million yuan; Three Gorges Life Insurance 6.40 cases/100 million yuan; Union Life Insurance 6.26 cases /billion yuan.
The number of complaints of personal insurance premiums of 100 million yuan