Yesterday, the insurance Regulatory Commission issued the Notice on Strengthening and Improving the supervision of the proportion of insurance funds used, which means that the supervision of the proportion of insurance funds used in the past two years has been officially completed. "Notice" issued from the same day of implementation, before the specific proportion of supervision on the subdivision of the field abolished, which gives the use of insurance funds greater flexibility. In theory, the proportion of insurance capital investment in stocks and equity funds can be increased to no more than 30%. According to statistics, from January 7 to February 18 this year, a total of 14 insurance companies (excluding asset management companies affiliated with insurance companies, the same below) investigated 17 GEM listed companies such as the Institute of Electrical Science and Technology.

Securities Times news, "Notice" according to the characteristics of asset risk and return, the various forms of insurance funds will be integrated into liquidity assets, fixed income assets, equity assets, real estate assets and other financial assets and other five categories of assets. The proportion of supervision has been greatly reduced, from more than 50 items to more than 10 items, and basically achieved the "one document management ratio".

"Notice" said that the insurance capital investment equity assets, real estate assets, other financial assets, overseas investment book balance accounted for the total assets of the insurance company at the end of the last quarter of the supervision ratio of no more than 30%, 30%, 25%, 15%. The regulatory proportion of investment in a single asset is no higher than 5% of the total assets of the insurance company at the end of the previous quarter, and the regulatory proportion of investment in the balance of the main body of a single legal person is no higher than 20% of the total assets of the insurance company at the end of the previous quarter.

The entry of insurance capital into the market has always been the focus of investors, according to the Notice, equity assets include listed equity assets and unlisted equity assets.

China's listed equity assets mainly include stocks, equity funds, hybrid funds and equity insurance asset management products, while overseas listed equity assets mainly include ordinary shares, preferred shares, global depositary receipts, American depositary receipts and equity securities investment funds, as well as other instruments or products identified by the China Insurance Regulatory Commission as belonging to this category. China's and overseas unlisted equity asset varieties mainly include unlisted enterprise equity, equity investment funds and other related financial products, as well as other such instruments or products recognized by the CIRC.

According to the relevant regulations issued previously, the proportion of insurance capital investment in stocks and equity funds shall not be higher than 20%, and the proportion of investment in unlisted companies and equity investment funds shall not be higher than 10%. Circ capital operation Department relevant personnel said at yesterday's media briefing that the "Notice" was issued from the same day, before the specific proportion of supervision on the subdivision of the field was abolished, which gives the insurance fund use greater flexibility. In theory, the proportion of insurance capital investment in stocks and stock funds can be increased to no more than 30%.

Data show that by the end of last year, the balance of funds used was 7.687.341 billion yuan, of which 786.482 billion yuan was invested in stocks and securities investment funds, accounting for 10.23%.

However, industry insiders said that insurance capital investment has its own characteristics, which is why the proportion of insurance capital investment in stocks and securities investment funds has been maintained at about 10%.

The notice also requires insurance companies to formulate internal risk control ratios for investment and report to the CIRC, while reporting the actual implementation of the previous year's ratios to the CIRC before March 31 each year.

In addition, the circular stipulates that the proportion of overseas investment in insurance capital should not be higher than 15%, compared with about 1% at present. In this regard, the insurance Regulatory Commission insurance capital application Department director Zeng Yujin said that this is mainly overseas investment on the investment ability of insurance companies is high, many insurance companies do not meet the requirements, followed by the Chinese market is large enough, even if not to go out to meet the demand for insurance capital investment. In addition, Zeng Yujin said that the next step of the insurance regulatory Commission will strengthen the supervision of non-standard assets, and introduce some regulatory measures.

(Securities Times Online News Center)

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