CPIC Newsletter for Investors_No. 9 (2022)
Investor's Newsletter( |
vol. No.9 in 2022 |
|
CPIC(SH601601, HK02601, LSE CPIC) |
||
Stock Data (ending
Total equity base (in million) |
9,620 |
A-share |
6,845 |
H-share |
2,775 |
Total Cap (in RMB million) |
178,165 |
A-share |
138,201 |
H-share (in HKD million) |
46,514 |
6-month highest/lowest |
|
A-share (in RMB) |
27.57/19.18 |
H-share (in HKD) |
23.94/15.66 |
GDR (in USD) |
20.43/14.22 |
Contents
- Regulatory Updates
Insurance firms allowed to issue perpetual capital bonds
CBIRC issues regulations on insurance AMCs
PBoC and CBIRC solicit public opinions on assessment of Domestic Systemically Important Insurer
IR Calendar
2022 Interim Results Announcement
Investor Relations Department
Tel: 021-58767282
Fax: 021-68870791
E-MAIL: [email protected]
Add: 15F,
E-MAIL:[email protected]
Company News
Deployment in elderly care gains momentum
CPIC and
Jan.- Jul. |
Changes |
Jul. |
Changes |
|
P&C |
105,027 |
12.06% |
13,201 |
10.80% |
Life |
159,595 |
5.51% |
10,542 |
6.64% |
Disclaimer:
All copyrights are reserved by the Company. The newsletter belongs to non-public information. Without written authorization by the Company, none part of the newsletter could be copied or substituted to others in any circumstance
CPIC Investor's Newsletter |
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Regulatory Updates
- Insurance firms allowed to issue perpetual capital bonds
Recently, PBoC and CBIRC jointly issued The Circular on Issurance of Perpetual Capital Bonds by Insurance Companies. Such bonds can be used to replenish tier-2 core capital, and shall not exceed 30% of total core capital. Insurance groups (holding companies) cannot issue the bond.
The bond shall contain terms on write-offs or share conversion in case of trigger events, which include "triggers of going-concern" and "triggers of non-survival". The former refers to the fact that insurance firms' core solvency margin ratio falls below 30%, and the latter refers to the following circumstances: (1) CBIRC is of the view that insurance firms will be unable to continue their business operation without write-offs or conversion; (2) Competent authorities are of the view that insurance firms will be unable to continue their business operation without capital injection from public sector departments or bail-out to the same effect. - CBIRC issues regulations on insurance AMCs
The document seeks to boost operational independence of insurance asset management companies and safeguard long-term safety of insurance funds. It abolishes the caps on foreign shareholding and strictly prohibits "channel business", i.e., business nominally managed by AMCs to bypass regulatory restrictions.
First, it lowers the limits on total shareholding of insurance companies, both domestic and foreign, to 50%.
Second, it clarifies the business scope of insurance AMCs. In addition to insurance money, they may also engage in insurance asset management products, management of other long-term funds or funds of eligible investors. They may establish specialised asset management subsidiaries in wealth management, mutual funds management, PE, real estate and infrastructure. Third, it seeks to discipline conduct of shareholders. Promoters, majority shareholders and de facto shareholders are required to commit, in writing, to long-term shareholding.
Fourth, it optimises business rules, banning external guarantees or using assets or products under management to further illegitimate interests of third parties.
- PBoC and CBIRC solicit public opinions on assessment of
Domestic Systemically Important Insurer
The assessment will cover the top 10 of insurance groups, life/health insurance companies, property and casualty insurance companies, reinsurance companies in term of asset scale, and entities previously recognised as being systemically important. The document clarifies the metrics and weighting for assessment, including scale, relevance, asset liquidation and how replaceable the company is. It also sets out the
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procedures of assessment, whereby the PBoC and CBIRC will collect data from companies under coverage annually, and those scoring over 1,000 points on a weighted basis will be designated as D-SII, and those below 1,000 will be subject to further evaluation of regulators.
- Deployment in elderly care gains momentum
On
On
So far, there are 12 projects under CPIC Home in 11 cities, with the experience centres for Chongming of
- CPIC and
Guangci Memorial Hospital boost integration of
insurance and medical service
On
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Insurance Software Market Is Set to Fly High in Years to Come
Property and Casualty Insurance Market Size, Share, Industry Analysis, Growth, Trends, Emerging Technologies, Recent Developments and Forecast 2022-2028: Global Property and Casualty Insurance Market Dynamics 2022-2028, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact and SWOT Analysis of Key Players like State Farm, Berkshire Hathaway, Liberty Mutual, Allstate, Progressive, Travelers, Chubb, USAA, Farmers, Nationwide, AIG, Zurich, AXA, China Life Insurance Company Limited, Allianz, Ping An Insurance, UnitedHealth Group, AIA, Prudential plc, Aegon
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