The CBRC's solvency supervision supports insurance companies' investment in the broader market blue chip stocks, and supports encouraging insurance companies to invest in bank shares

Southern Finance All Media Reporter Zheng Jiayi Beijing report

On September 1, the person in charge of the relevant departments of the Banking Insurance Regulatory Commission answered questions from reporters on the ability of the CBRC to supervise the ability to serve the real economy and support the development of the capital market.

In December 2021, the CBRC issued the "Insurance Company's Capital Capacity Supervision Rules (II)" (referred to as the Rules II), which was implemented since 2022.

According to the person in charge of the CBRC, from the perspective of the implementation of the first half of this year, rules II improved the risk sensitivity and effectiveness of regulatory indicators, and achieved positive results in guiding the insurance industry to serve the real economy and supporting the development of the capital market.

Actively guide the insurance industry to serve the real economy

The person in charge of the China Banking Regulatory Commission stated that rules II gave a number of support policies for green bonds, technological innovation, export credit insurance, agricultural insurance and pension insurance to effectively promote the insurance industry to enhance the service real economy and enhance the quality of the real economy.

The first is to guide insurance companies to support technological innovation. Rules II allows professional technology insurance companies to measure the minimum insurance risk of insurance companies at a ratio of 90%to guide them to better serve the field of science and technology and implement the concept of innovation and development. This policy can greatly save the minimum capital of professional technology insurance companies and increase its solvency adequacy ratio. As of the end of the second quarter of this year, it supports the company to provide more than 2.1 billion yuan in risk protection for the technology field.

The second is to encourage the development of exclusive business endowment insurance business. The Rules II allows the minimum longevity risk of exclusive commercial pension insurance products to measure at a rate of 90%, which effectively supports the development of the third pillar pension insurance. As of the end of the second quarter of this year, the insurance industry's exclusive commercial pension insurance products achieved a premium of about 2.2 billion yuan, showing a trend of rapid growth.

The third is to support insurance companies to invest in green bonds. The Rules II allows insurance companies to invest in the minimum capital of green bonds to measure at a proportion of 90%to guide the insurance industry to implement the concept of green development and effectively enhance the enthusiasm of insurance companies to invest in green bonds.

The fourth is to support the development of agricultural insurance business. Rules II allows insurance companies to measure the lowest capital risk of agricultural insurance business insurance at a ratio of 90%. At the end of the second quarter of this year, the policy saved the minimum capital of the insurance industry about 2.7 billion yuan, which could support insurance companies to provide more than 420 billion yuan in risk guarantees for "three rural areas", and effectively implemented the decision -making deployment of "food and energy security".

Fifth, support the development of export credit insurance and overseas investment insurance. Rules II supports policy -long -term export credit insurance and overseas investment insurance, allowing its minimum insurance risk to measure at a ratio of 90%. Based on data at the end of the second quarter of this year, the policy can support insurance companies to provide risk protection for about 240 billion yuan for my country's exports and overseas investment, and effectively implement decision -making deployment of foreign trade.

Maintain the healthy and stable development of the capital market

The person in charge of the China Banking Regulatory Commission stated that the Rules II provides preferential policies for insurance capital investment bank stocks, large -scale blue -chip stocks, and publicly raised infrastructure securities investment funds (public offerings REITs) to support the insurance industry to participate in the capital market reform and maintain the healthy and stable development of the capital market.

The first is to support insurance companies investing in blue chip stocks. Rules II's 300 major stocks invested by insurance companies allow its minimum capital to measure at a rate of 95%to support the smooth operation of the capital market. Under the guidance of policy support, as of the end of the second quarter of this year, the insurance industry invested a total of about 790 billion yuan in Shanghai and Shenzhen, saving the minimum capital of 13.8 billion yuan, which has strongly supported the smooth operation of the capital market.

The second is to support insurance companies to invest in publicly raising infrastructure securities investment funds (public offerings REITs). Rules II has a public offering of REITs of insurance companies, allowing the minimum capital to measure at a ratio of 80%to support the reform and development of the capital market. As of the end of the second quarter of this year, the insurance industry invested a total of about 7 billion yuan of REITs, accounting for about 13%of the total scale of REITs, and is an important institutional investor. The above -mentioned policy saving the minimum capital of insurance companies was about 720 million yuan, which strongly supported the insurance industry to participate in the capital market reform and development.

The third is to support the encouragement of insurance companies to invest in bank stocks. Rules II has long -term equity investment in insurance companies' investment in the bank. If the dividend rate is met, it can exempt the impairment requirements and allow insurance companies to use its book value as a recognition value. This policy supports insurance companies' long -term holding shares of listed banks to maintain the healthy development of the capital market.

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